Louisiana State Employees Retirement System Sells 3,300 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Louisiana State Employees Retirement System cut its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,900 shares of the real estate investment trust’s stock after selling 3,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Douglas Emmett were worth $1,421,000 as of its most recent SEC filing.

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

Douglas Emmett Price Performance

Shares of DEI stock opened at $17.53 on Friday. Douglas Emmett, Inc. has a twelve month low of $10.76 and a twelve month high of $19.27. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -83.45 and a beta of 1.11. The stock has a fifty day simple moving average of $17.26 and a two-hundred day simple moving average of $15.19. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 1.47.

Douglas Emmett (NYSE:DEI) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $246.62 million. Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, analysts predict that Douglas Emmett, Inc. will post 1.68 EPS for the current fiscal year.

Douglas Emmett Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 4.34%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s dividend payout ratio is currently -361.90%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup lifted their price objective on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Scotiabank lifted their price objective on Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price objective on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Evercore ISI lifted their target price on Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Finally, Piper Sandler lifted their target price on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.29.

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.