Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in Douglas Emmett, Inc. (NYSE:DEI)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,877 shares of the real estate investment trust’s stock after selling 1,075 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Douglas Emmett worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Douglas Emmett by 130.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,684,597 shares of the real estate investment trust’s stock valued at $49,826,000 after buying an additional 1,520,348 shares during the last quarter. Norges Bank purchased a new stake in shares of Douglas Emmett during the fourth quarter valued at approximately $23,526,000. Pictet Asset Management Holding SA grew its holdings in shares of Douglas Emmett by 8.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 53,832 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 4,413 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Douglas Emmett by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,943,811 shares of the real estate investment trust’s stock valued at $147,437,000 after buying an additional 125,727 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Douglas Emmett during the fourth quarter valued at approximately $1,234,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of Douglas Emmett from $20.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. BMO Capital Markets set a $17.00 price target on shares of Douglas Emmett and gave the stock a “market perform” rating in a research report on Wednesday, July 16th. Scotiabank reduced their price objective on shares of Douglas Emmett from $21.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Monday, July 14th. Wall Street Zen raised shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Piper Sandler reduced their price objective on shares of Douglas Emmett from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.78.

Douglas Emmett Stock Performance

DEI opened at $14.90 on Friday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 46.56 and a beta of 1.26. The company has a fifty day moving average of $15.15 and a 200 day moving average of $15.53. Douglas Emmett, Inc. has a fifty-two week low of $12.39 and a fifty-two week high of $20.50. The company has a debt-to-equity ratio of 1.54, a quick ratio of 3.89 and a current ratio of 3.89.

Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $251.54 million during the quarter, compared to analysts’ expectations of $246.49 million. Douglas Emmett had a net margin of 5.48% and a return on equity of 1.48%. Douglas Emmett’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.45 earnings per share. As a group, sell-side analysts forecast that Douglas Emmett, Inc. will post 1.45 earnings per share for the current fiscal year.

Douglas Emmett Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Monday, June 30th. Douglas Emmett’s dividend payout ratio (DPR) is presently 237.50%.

Douglas Emmett Company 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.