Principal Financial Group Inc. Buys 21,771 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Principal Financial Group Inc. raised its holdings in Douglas Emmett, Inc. (NYSE:DEI - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 833,426 shares of the real estate investment trust's stock after buying an additional 21,771 shares during the quarter. Principal Financial Group Inc. owned 0.50% of Douglas Emmett worth $13,335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEI. Proficio Capital Partners LLC acquired a new stake in Douglas Emmett in the 4th quarter valued at approximately $602,000. Raymond James Financial Inc. bought a new stake in shares of Douglas Emmett during the fourth quarter valued at approximately $7,829,000. Amundi increased its position in shares of Douglas Emmett by 47.7% during the fourth quarter. Amundi now owns 170,038 shares of the real estate investment trust's stock valued at $2,874,000 after purchasing an additional 54,899 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Douglas Emmett by 49.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,952 shares of the real estate investment trust's stock valued at $1,966,000 after purchasing an additional 35,081 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of Douglas Emmett by 6.9% during the fourth quarter. HighTower Advisors LLC now owns 14,257 shares of the real estate investment trust's stock valued at $265,000 after purchasing an additional 922 shares during the period. Institutional investors and hedge funds own 97.37% of the company's stock.

Douglas Emmett Price Performance

DEI stock traded up $0.03 during trading on Monday, hitting $16.13. The company had a trading volume of 100,677 shares, compared to its average volume of 1,780,763. The company has a fifty day moving average price of $14.83 and a two-hundred day moving average price of $15.76. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.54. The company has a market cap of $2.70 billion, a P/E ratio of 50.41 and a beta of 1.23. Douglas Emmett, Inc. has a fifty-two week low of $12.39 and a fifty-two week high of $20.50.

Douglas Emmett (NYSE:DEI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. The company had revenue of $251.54 million for the quarter, compared to analyst estimates of $246.49 million. Douglas Emmett had a return on equity of 1.48% and a net margin of 5.48%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Equities research analysts expect that Douglas Emmett, Inc. will post 1.45 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Monday, June 30th. Douglas Emmett's dividend payout ratio is currently 237.50%.

Wall Street Analyst Weigh In

DEI has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Douglas Emmett from $20.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 19th. 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 report on Friday, May 23rd. Jefferies Financial Group began coverage on shares of Douglas Emmett in a report on Monday, March 17th. They set a "hold" rating and a $16.00 price objective for the company. Finally, Wall Street Zen raised Douglas Emmett from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Douglas Emmett has a consensus rating of "Hold" and a consensus target price of $18.13.

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.