State of New Jersey Common Pension Fund D Reduces Position in Douglas Emmett, Inc. (NYSE:DEI)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 7.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 208,776 shares of the real estate investment trust’s stock after selling 15,687 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.12% of Douglas Emmett worth $3,668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wolverine Asset Management LLC bought a new position in shares of Douglas Emmett in the second quarter worth about $32,000. Quarry LP grew its stake in Douglas Emmett by 155.0% in the 2nd quarter. Quarry LP now owns 4,121 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 2,505 shares in the last quarter. Blue Trust Inc. increased its position in shares of Douglas Emmett by 1,081.5% during the third quarter. Blue Trust Inc. now owns 3,710 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 3,396 shares during the period. GAMMA Investing LLC raised its stake in shares of Douglas Emmett by 44.6% during the third quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 1,175 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Douglas Emmett by 62.0% in the third quarter. Raleigh Capital Management Inc. now owns 3,856 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 1,476 shares during the period. 97.37% of the stock is owned by institutional investors.

Douglas Emmett Trading Down 4.6 %

Shares of NYSE:DEI opened at $18.16 on Wednesday. The business’s 50-day moving average is $17.59 and its 200 day moving average is $15.45. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.09 and a quick ratio of 5.11. Douglas Emmett, Inc. has a 1 year low of $10.76 and a 1 year high of $19.59. The firm has a market capitalization of $3.04 billion, a P/E ratio of -181.60 and a beta of 1.10.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.38). The company had revenue of $250.75 million for the quarter, compared to analyst estimates of $242.75 million. Douglas Emmett had a negative net margin of 1.68% and a negative return on equity of 0.43%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. On average, research analysts predict that Douglas Emmett, Inc. will post 1.7 earnings per share for the current fiscal year.

Douglas Emmett Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s payout ratio is -760.00%.

Analyst Upgrades and Downgrades

Several research firms have commented on DEI. Evercore ISI raised their price objective on Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Piper Sandler boosted their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Citigroup increased their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Douglas Emmett has an average rating of “Hold” and a consensus target price of $16.71.

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.