PNC Financial Services Group Inc. Has $190,000 Stock Position in Douglas Emmett, Inc. (NYSE:DEI)

PNC Financial Services Group Inc. lowered its position in Douglas Emmett, Inc. (NYSE:DEI) by 20.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,072 shares of the real estate investment trust’s stock after selling 3,329 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Douglas Emmett were worth $190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Douglas Emmett by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 26,187,297 shares of the real estate investment trust’s stock valued at $379,716,000 after acquiring an additional 229,301 shares during the period. Massachusetts Financial Services Co. MA grew its position in Douglas Emmett by 12.6% in the fourth 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 acquiring an additional 349,034 shares during the period. Wellington Management Group LLP raised its stake in Douglas Emmett by 26.8% during the third quarter. Wellington Management Group LLP now owns 9,201,972 shares of the real estate investment trust’s stock worth $117,417,000 after acquiring an additional 1,947,720 shares in the last quarter. Norges Bank bought a new position in shares of Douglas Emmett during the fourth quarter valued at $26,467,000. Finally, Rush Island Management LP boosted its stake in shares of Douglas Emmett by 271.4% in the 3rd quarter. Rush Island Management LP now owns 4,152,516 shares of the real estate investment trust’s stock valued at $52,986,000 after purchasing an additional 3,034,375 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Douglas Emmett Trading Up 1.4 %

DEI opened at $13.41 on Wednesday. The firm’s fifty day simple moving average is $13.64 and its 200 day simple moving average is $13.73. The stock has a market capitalization of $2.24 billion, a P/E ratio of -43.26 and a beta of 1.09. The company has a current ratio of 4.42, a quick ratio of 4.42 and a debt-to-equity ratio of 1.45. Douglas Emmett, Inc. has a 12 month low of $10.76 and a 12 month high of $16.12.

Douglas Emmett Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 28th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.76 annualized dividend and a dividend yield of 5.67%. Douglas Emmett’s dividend payout ratio is currently -245.16%.

Insider Buying and Selling

In other Douglas Emmett news, Director William E. Simon, Jr. purchased 45,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $13.15 per share, with a total value of $591,750.00. Following the transaction, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $591,750. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 14.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. Piper Sandler reduced their price target on Douglas Emmett from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.67.

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.