Millennium Management LLC Sells 622,110 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Millennium Management LLC lowered its stake in Douglas Emmett, Inc. (NYSE:DEI) by 61.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 382,604 shares of the real estate investment trust’s stock after selling 622,110 shares during the quarter. Millennium Management LLC’s holdings in Douglas Emmett were worth $5,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new position in shares of Douglas Emmett in the second quarter worth about $32,000. Quarry LP bought a new position in Douglas Emmett in the 4th quarter valued at approximately $57,000. Aspire Private Capital LLC raised its holdings in Douglas Emmett by 20.0% in the 2nd quarter. Aspire Private Capital LLC now owns 9,537 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 1,592 shares during the last quarter. Xponance Inc. bought a new position in Douglas Emmett in the 2nd quarter valued at approximately $137,000. Finally, Choreo LLC bought a new position in Douglas Emmett in the 2nd quarter valued at approximately $147,000. Institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DEI. Wells Fargo & Company raised their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Citigroup raised their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Piper Sandler raised their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Evercore ISI increased their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.29.

Douglas Emmett Stock Performance

NYSE:DEI opened at $17.65 on Friday. The company has a market capitalization of $2.95 billion, a PE ratio of -84.02 and a beta of 1.11. The company has a 50 day simple moving average of $16.21 and a two-hundred day simple moving average of $14.65. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.11 and a current ratio of 5.11. Douglas Emmett, Inc. has a fifty-two week low of $10.76 and a fifty-two week high of $17.94.

Douglas Emmett (NYSE:DEI) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.06 EPS 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 analyst estimates of $246.62 million. Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. Research analysts anticipate that Douglas Emmett, Inc. will post 1.67 earnings per share for the current year.

Douglas Emmett Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders 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 dividend yield of 4.31%. The ex-dividend date is Monday, September 30th. Douglas Emmett’s dividend payout ratio (DPR) is -361.90%.

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.