Maryland State Retirement & Pension System Cuts Stock Position in Douglas Emmett, Inc. (NYSE:DEI)

Maryland State Retirement & Pension System lessened its holdings in Douglas Emmett, Inc. (NYSE:DEI) by 12.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 48,894 shares of the real estate investment trust’s stock after selling 7,210 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Douglas Emmett were worth $782,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of DEI. Principal Financial Group Inc. grew its position in shares of Douglas Emmett by 2.7% during the first quarter. Principal Financial Group Inc. now owns 833,426 shares of the real estate investment trust’s stock valued at $13,335,000 after purchasing an additional 21,771 shares in the last quarter. Bank of America Corp DE grew its position in shares of Douglas Emmett by 42.5% during the fourth quarter. Bank of America Corp DE now owns 609,662 shares of the real estate investment trust’s stock valued at $11,315,000 after purchasing an additional 181,909 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Douglas Emmett during the first quarter valued at about $392,000. KBC Group NV grew its position in shares of Douglas Emmett by 39.6% during the first quarter. KBC Group NV now owns 9,669 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 2,743 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Douglas Emmett during the first quarter valued at about $1,219,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Douglas Emmett Stock Up 3.8%

Shares of NYSE DEI opened at $14.59 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.49 and a quick ratio of 3.89. The company has a market cap of $2.44 billion, a P/E ratio of 66.34 and a beta of 1.26. Douglas Emmett, Inc. has a 1 year low of $12.39 and a 1 year high of $20.50. The firm has a 50-day simple moving average of $15.19 and a two-hundred day simple moving average of $15.39.

Douglas Emmett (NYSE:DEI) last announced its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $252.43 million during the quarter, compared to the consensus estimate of $250.98 million. Douglas Emmett had a net margin of 3.77% and a return on equity of 1.04%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. Research analysts anticipate that Douglas Emmett, Inc. will post 1.45 earnings per share for the current year.

Douglas Emmett Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.76 annualized dividend and a yield of 5.2%. Douglas Emmett’s dividend payout ratio (DPR) is presently 345.45%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DEI. Wall Street Zen lowered Douglas Emmett from a “hold” rating to a “sell” rating in a research report on Saturday. Scotiabank dropped their price target on Douglas Emmett from $21.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Monday, July 14th. BMO Capital Markets set a $17.00 target price on Douglas Emmett and gave the company a “market perform” rating in a research report on Wednesday, July 16th. Piper Sandler cut their target price on Douglas Emmett from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Finally, Wells Fargo & Company cut their target price on Douglas Emmett from $20.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Douglas Emmett has a consensus rating of “Hold” and an average target price of $17.78.

About Douglas Emmett

Douglas Emmett, Inc (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities.