JPMorgan Chase & Co. Sells 1,096,657 Shares of Douglas Emmett, Inc. (NYSE:DEI)

JPMorgan Chase & Co. reduced its stake in Douglas Emmett, Inc. (NYSE:DEIGet Rating) by 24.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,431,207 shares of the real estate investment trust’s stock after selling 1,096,657 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.95% of Douglas Emmett worth $76,792,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC bought a new position in Douglas Emmett in the 1st quarter worth $30,000. Parallel Advisors LLC increased its stake in Douglas Emmett by 292.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,716 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,279 shares in the last quarter. CWM LLC increased its stake in Douglas Emmett by 444.4% in the 2nd quarter. CWM LLC now owns 1,764 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 1,440 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Douglas Emmett in the 1st quarter worth $40,000. Finally, Lazard Asset Management LLC increased its stake in Douglas Emmett by 89.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,537 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 1,199 shares in the last quarter. 93.57% of the stock is owned by institutional investors.

Douglas Emmett Stock Up 0.1 %

Shares of NYSE:DEI opened at $16.79 on Thursday. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.21. Douglas Emmett, Inc. has a 12 month low of $15.90 and a 12 month high of $36.97. The company has a 50-day moving average price of $17.59 and a 200 day moving average price of $21.38. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 1.53 and a beta of 0.90.

Douglas Emmett Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 18th. Investors of record on Friday, September 30th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date was Thursday, September 29th. Douglas Emmett’s payout ratio is 215.39%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DEI shares. Piper Sandler lowered Douglas Emmett from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $19.00 in a research note on Friday, October 7th. StockNews.com assumed coverage on Douglas Emmett in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James cut their price objective on Douglas Emmett from $28.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, October 18th. Wells Fargo & Company cut their price objective on Douglas Emmett from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, October 18th. Finally, Credit Suisse Group cut their price objective on Douglas Emmett to $22.00 in a research report on Thursday, October 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Douglas Emmett has an average rating of “Moderate Buy” and a consensus price target of $24.71.

Insider Activity at Douglas Emmett

In other Douglas Emmett news, insider Jordan L. Kaplan purchased 48,750 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was purchased at an average price of $20.48 per share, with a total value of $998,400.00. Following the acquisition, the insider now owns 2,851,640 shares in the company, valued at $58,401,587.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William E. Simon, Jr. acquired 13,200 shares of the firm’s stock in a transaction on Wednesday, September 28th. The stock was acquired at an average price of $18.73 per share, with a total value of $247,236.00. Following the completion of the purchase, the director now directly owns 81,000 shares in the company, valued at $1,517,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jordan L. Kaplan acquired 48,750 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was purchased at an average cost of $20.48 per share, with a total value of $998,400.00. Following the purchase, the insider now owns 2,851,640 shares of the company’s stock, valued at $58,401,587.20. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 345,950 shares of company stock valued at $7,257,916. Insiders own 13.40% of the company’s stock.

Douglas Emmett Profile

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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.

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Institutional Ownership by Quarter for Douglas Emmett (NYSE:DEI)

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