Bank of New York Mellon Corp Sells 640,343 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Bank of New York Mellon Corp lowered its holdings in Douglas Emmett, Inc. (NYSE:DEI - Free Report) by 27.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,684,861 shares of the real estate investment trust's stock after selling 640,343 shares during the period. Bank of New York Mellon Corp owned approximately 1.01% of Douglas Emmett worth $26,958,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in Douglas Emmett by 203.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,927 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 1,964 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Douglas Emmett in the 4th quarter worth approximately $56,000. Sterling Capital Management LLC lifted its holdings in shares of Douglas Emmett by 808.8% during the fourth quarter. Sterling Capital Management LLC now owns 5,089 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 4,529 shares during the period. FIL Ltd boosted its position in Douglas Emmett by 19.0% in the fourth quarter. FIL Ltd now owns 5,546 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 884 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Douglas Emmett by 39.6% in the 1st quarter. KBC Group NV now owns 9,669 shares of the real estate investment trust's stock worth $155,000 after acquiring an additional 2,743 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company's stock.

Analyst Upgrades and Downgrades

DEI has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Douglas Emmett from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Wells Fargo & Company reduced their price target on Douglas Emmett from $20.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Scotiabank decreased 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 report on Monday, July 14th. Piper Sandler dropped their price target on Douglas Emmett from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, BMO Capital Markets set a $17.00 price objective on Douglas Emmett and gave the company a "market perform" rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $17.78.

Douglas Emmett Stock Performance

Shares of NYSE:DEI traded down $0.25 on Friday, hitting $15.44. The company had a trading volume of 1,142,077 shares, compared to its average volume of 1,773,042. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 48.25 and a beta of 1.23. The stock has a 50 day moving average price of $14.96 and a 200 day moving average price of $15.71. Douglas Emmett, Inc. has a 1-year low of $12.39 and a 1-year high of $20.50. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.54.

Douglas Emmett (NYSE:DEI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. The business 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%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 EPS. Analysts expect that Douglas Emmett, Inc. will post 1.45 EPS for the current year.

Douglas Emmett Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Monday, June 30th. Douglas Emmett's dividend payout ratio (DPR) is presently 237.50%.

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.