Principal Financial Group Inc. Sells 36,292 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Principal Financial Group Inc. lowered its holdings in Douglas Emmett, Inc. (NYSE:DEI) by 4.4% in the third quarter, HoldingsChannel.com reports. The firm owned 788,777 shares of the real estate investment trust’s stock after selling 36,292 shares during the quarter. Principal Financial Group Inc.’s holdings in Douglas Emmett were worth $13,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DEI. Wolverine Asset Management LLC acquired a new stake in shares of Douglas Emmett during the 2nd quarter worth $32,000. Quarry LP lifted its position in Douglas Emmett by 155.0% during 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 period. Blue Trust Inc. grew its stake in 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 buying an additional 3,396 shares in the last quarter. GAMMA Investing LLC increased its holdings in Douglas Emmett by 44.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 1,175 shares during the period. Finally, Raleigh Capital Management Inc. increased its holdings in Douglas Emmett by 62.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,856 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 1,476 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analysts Set New Price Targets

DEI has been the topic of several analyst reports. Scotiabank upgraded shares of Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $16.00 to $21.00 in a research report on Thursday. Piper Sandler upped their target price on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Evercore ISI lifted their price target on Douglas Emmett from $16.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Citigroup upped their price objective on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. raised their price objective on Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.43.

Douglas Emmett Stock Down 0.5 %

Shares of NYSE:DEI opened at $18.39 on Friday. Douglas Emmett, Inc. has a 52-week low of $11.08 and a 52-week high of $19.59. The company has a market capitalization of $3.08 billion, a PE ratio of -183.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 5.11 and a current ratio of 4.09. The company has a fifty day moving average of $17.79 and a 200-day moving average of $15.56.

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

Douglas Emmett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a $0.19 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 4.13%. Douglas Emmett’s dividend payout ratio (DPR) is presently -760.00%.

Douglas Emmett Profile

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.