CIBC Asset Management Inc Sells 770 Shares of Douglas Emmett, Inc. (NYSE:DEI)

CIBC Asset Management Inc decreased its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,643 shares of the real estate investment trust’s stock after selling 770 shares during the quarter. CIBC Asset Management Inc’s holdings in Douglas Emmett were worth $222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Douglas Emmett by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 26,187,297 shares of the real estate investment trust’s stock valued at $379,716,000 after buying an additional 229,301 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Douglas Emmett by 12.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,119,643 shares of the real estate investment trust’s stock valued at $45,235,000 after purchasing an additional 349,034 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Douglas Emmett in the 2nd quarter valued at about $3,825,000. GSA Capital Partners LLP raised its holdings in shares of Douglas Emmett by 356.7% in the 1st quarter. GSA Capital Partners LLP now owns 116,902 shares of the real estate investment trust’s stock valued at $1,621,000 after purchasing an additional 91,305 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in shares of Douglas Emmett by 20.8% in the 1st quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock valued at $59,817,000 after purchasing an additional 751,419 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DEI. StockNews.com upgraded shares of Douglas Emmett from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Scotiabank boosted their price target on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday. Evercore ISI boosted their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, Piper Sandler lifted their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.67.

Douglas Emmett Stock Up 0.5 %

NYSE:DEI opened at $15.69 on Tuesday. The company has a market cap of $2.63 billion, a PE ratio of -50.60 and a beta of 1.10. Douglas Emmett, Inc. has a twelve month low of $10.76 and a twelve month high of $16.57. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 1.47. The company’s 50 day moving average is $14.98 and its two-hundred day moving average is $14.04.

Douglas Emmett (NYSE:DEI) last released its earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.37). The company had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $246.62 million. Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. Analysts anticipate that Douglas Emmett, Inc. will post 1.67 EPS for the current year.

Douglas Emmett Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 4.85%. The ex-dividend date is Monday, September 30th. Douglas Emmett’s dividend payout ratio is presently -245.16%.

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.