California Public Employees Retirement System Has $5.05 Million Stake in Douglas Emmett, Inc. (NYSE:DEI)

California Public Employees Retirement System lowered its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 348,408 shares of the real estate investment trust’s stock after selling 4,734 shares during the period. California Public Employees Retirement System’s holdings in Douglas Emmett were worth $5,052,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DEI. Rush Island Management LP grew its position in Douglas Emmett by 271.4% in the third 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. Wellington Management Group LLP increased its position in shares of Douglas Emmett by 26.8% in the third quarter. Wellington Management Group LLP now owns 9,201,972 shares of the real estate investment trust’s stock valued at $117,417,000 after acquiring an additional 1,947,720 shares during the last quarter. Lasalle Investment Management Securities LLC bought a new stake in Douglas Emmett during the third quarter worth about $13,648,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Douglas Emmett by 516.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,219,895 shares of the real estate investment trust’s stock valued at $15,566,000 after purchasing an additional 1,021,891 shares during the last quarter. Finally, Cooper Financial Group acquired a new position in shares of Douglas Emmett during the 4th quarter worth approximately $6,799,000. 97.37% of the stock is owned by institutional investors.

Douglas Emmett Price Performance

NYSE:DEI opened at $13.85 on Friday. Douglas Emmett, Inc. has a 12-month low of $10.09 and a 12-month high of $16.12. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -53.27 and a beta of 1.05. The stock’s 50 day moving average price is $13.42 and its two-hundred day moving average price is $13.33. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 1.44.

Douglas Emmett Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, March 28th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date was Wednesday, March 27th. Douglas Emmett’s dividend payout ratio (DPR) is presently -292.31%.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price objective on Douglas Emmett from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Douglas Emmett has a consensus rating of “Hold” and an average target price of $13.67.

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.