Texas Permanent School Fund Corp Sells 21,129 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Texas Permanent School Fund Corp cut its stake in Douglas Emmett, Inc. (NYSE:DEI) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,798 shares of the real estate investment trust’s stock after selling 21,129 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Douglas Emmett worth $1,661,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DEI. Victory Capital Management Inc. lifted its position in Douglas Emmett by 13.3% in the fourth quarter. Victory Capital Management Inc. now owns 34,574 shares of the real estate investment trust’s stock worth $501,000 after buying an additional 4,049 shares during the last quarter. Norges Bank bought a new stake in Douglas Emmett in the fourth quarter worth $26,467,000. Quest Partners LLC bought a new stake in Douglas Emmett in the fourth quarter worth $383,000. Frazier Financial Advisors LLC bought a new stake in Douglas Emmett in the fourth quarter worth $46,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in Douglas Emmett by 0.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 188,400 shares of the real estate investment trust’s stock worth $2,732,000 after buying an additional 1,700 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

Douglas Emmett Stock Performance

Shares of Douglas Emmett stock opened at $17.01 on Thursday. The firm has a market cap of $2.85 billion, a P/E ratio of -54.87 and a beta of 1.10. 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, Inc. has a 12 month low of $10.76 and a 12 month high of $17.40. The stock’s fifty day moving average price is $15.46 and its 200-day moving average price is $14.21.

Douglas Emmett (NYSE:DEI) last announced 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 firm had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $246.62 million. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. On average, equities research analysts expect that Douglas Emmett, Inc. will post 1.67 earnings per share for the current fiscal year.

Douglas Emmett Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 4.47%. Douglas Emmett’s dividend payout ratio is currently -245.16%.

Analyst Ratings Changes

DEI has been the subject of a number of analyst reports. Piper Sandler raised their price target on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Citigroup lifted their target price on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Scotiabank lifted their target price on Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. 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 research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lifted their target price on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.88.

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.