Principal Financial Group Inc. Cuts Stake in Douglas Emmett, Inc. (NYSE:DEI)

Principal Financial Group Inc. lowered its stake in Douglas Emmett, Inc. (NYSE:DEI - Free Report) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 788,777 shares of the real estate investment trust's stock after selling 36,292 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Douglas Emmett worth $13,859,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Wolverine Asset Management LLC acquired a new stake in shares of Douglas Emmett during the 2nd quarter valued at $32,000. Venturi Wealth Management LLC acquired a new stake in shares of Douglas Emmett during the third quarter valued at about $48,000. Quarry LP grew its holdings in shares of Douglas Emmett by 155.0% during the second quarter. Quarry LP now owns 4,121 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 2,505 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Douglas Emmett by 1,081.5% in the third quarter. Blue Trust Inc. now owns 3,710 shares of the real estate investment trust's stock valued at $65,000 after buying an additional 3,396 shares during the period. Finally, GAMMA Investing LLC increased its position in Douglas Emmett by 44.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 1,175 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Douglas Emmett Trading Down 1.9 %

Shares of DEI stock traded down $0.36 during trading hours on Friday, hitting $18.63. 799,600 shares of the company were exchanged, compared to its average volume of 1,617,072. The company has a 50 day simple moving average of $18.86 and a two-hundred day simple moving average of $16.72. The firm has a market cap of $3.12 billion, a P/E ratio of -186.30 and a beta of 1.11. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.09 and a current ratio of 4.09. Douglas Emmett, Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $20.50.

Douglas Emmett (NYSE:DEI - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS 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 during the quarter, compared to analyst estimates of $242.75 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts anticipate that Douglas Emmett, Inc. will post 1.7 EPS for the current year.

Douglas Emmett Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on DEI shares. Wells Fargo & Company lifted their target price on Douglas Emmett from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, September 11th. Scotiabank raised Douglas Emmett from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the stock from $16.00 to $21.00 in a research note on Thursday, November 14th. Evercore ISI raised their price target on shares of Douglas Emmett from $16.00 to $19.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Citigroup upped their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Douglas Emmett has a consensus rating of "Hold" and an average price target of $17.43.

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.