Victory Capital Management Inc. Sells 1,195 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Victory Capital Management Inc. decreased its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 3.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,106 shares of the real estate investment trust’s stock after selling 1,195 shares during the period. Victory Capital Management Inc.’s holdings in Douglas Emmett were worth $467,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Douglas Emmett during the 4th quarter valued at approximately $26,467,000. Nomura Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 1,700 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Douglas Emmett by 8.0% during the fourth quarter. Hsbc Holdings PLC now owns 3,375,431 shares of the real estate investment trust’s stock valued at $49,403,000 after acquiring an additional 249,482 shares in the last quarter. First Pacific Advisors LP raised its position in shares of Douglas Emmett by 10.5% in the 4th quarter. First Pacific Advisors LP now owns 5,546,488 shares of the real estate investment trust’s stock worth $80,424,000 after purchasing an additional 527,036 shares during the last quarter. Finally, Evoke Wealth LLC bought a new position in Douglas Emmett in the 4th quarter worth about $1,095,000. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Douglas Emmett Stock Down 1.5 %

Shares of DEI stock opened at $17.23 on Monday. 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 $17.54. The stock has a market cap of $2.88 billion, a P/E ratio of -55.58 and a beta of 1.10. The company has a 50 day simple moving average of $15.58 and a two-hundred day simple moving average of $14.27.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.37). Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The firm had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $246.62 million. During the same period in the prior year, the firm earned $0.48 EPS. Douglas Emmett’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, research analysts expect that Douglas Emmett, Inc. will post 1.67 earnings per share for the current year.

Douglas Emmett Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors 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 yield of 4.41%. Douglas Emmett’s payout ratio is -245.16%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DEI shares. Piper Sandler raised their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. raised their price target on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Scotiabank upped their price objective on Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI increased their target price on Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company boosted their target price on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.88.

About Douglas Emmett

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.