Principal Financial Group Inc. Decreases Stock Holdings in Douglas Emmett, Inc. (NYSE:DEI)

Principal Financial Group Inc. lessened its holdings in Douglas Emmett, Inc. (NYSE:DEI) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 788,777 shares of the real estate investment trust’s stock after selling 36,292 shares during the period. Principal Financial Group Inc. owned about 0.47% of Douglas Emmett worth $13,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DEI. Wolverine Asset Management LLC purchased a new position in shares of Douglas Emmett in the second quarter valued at $32,000. Venturi Wealth Management LLC acquired a new position in Douglas Emmett in the 3rd quarter worth $48,000. Quarry LP boosted its position in Douglas Emmett by 155.0% in the 2nd quarter. Quarry LP now owns 4,121 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 2,505 shares during the last quarter. Blue Trust Inc. grew its stake in shares of 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 valued at $65,000 after acquiring an additional 3,396 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Douglas Emmett by 44.6% during the third quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 1,175 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. 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. Scotiabank upgraded shares of Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $16.00 to $21.00 in a research note on Thursday, November 14th. Wells Fargo & Company increased their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Citigroup boosted their target price on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Evercore ISI lifted their price target on Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.43.

Douglas Emmett Price Performance

Shares of NYSE:DEI opened at $18.63 on Friday. The company has a market cap of $3.12 billion, a PE ratio of -186.30 and a beta of 1.11. Douglas Emmett, Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $20.50. The firm has a 50-day simple moving average of $18.86 and a 200 day simple moving average of $16.70. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 1.51.

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

Douglas Emmett Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 4.08%. Douglas Emmett’s dividend payout ratio is currently -760.00%.

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.