State of New Jersey Common Pension Fund D Increases Stock Position in Douglas Emmett, Inc. (NYSE:DEI)

State of New Jersey Common Pension Fund D raised its position in Douglas Emmett, Inc. (NYSE:DEI) by 8.8% in the fourth quarter, Holdings Channel reports. The fund owned 331,927 shares of the real estate investment trust’s stock after buying an additional 26,766 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Douglas Emmett were worth $4,813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DEI. Wolverine Asset Management LLC acquired a new position in shares of Douglas Emmett in the 4th quarter valued at $516,000. GAMMA Investing LLC acquired a new position in Douglas Emmett during the fourth quarter worth about $43,000. New York State Common Retirement Fund raised its position in Douglas Emmett by 3.8% during the fourth quarter. New York State Common Retirement Fund now owns 66,452 shares of the real estate investment trust’s stock worth $964,000 after acquiring an additional 2,411 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Douglas Emmett by 64.0% in the fourth quarter. Handelsbanken Fonder AB now owns 77,360 shares of the real estate investment trust’s stock worth $1,122,000 after purchasing an additional 30,200 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Douglas Emmett in the fourth quarter worth approximately $1,209,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DEI. Jefferies Financial Group upgraded shares of Douglas Emmett from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $10.00 to $15.00 in a research note on Tuesday, January 2nd. Piper Sandler lowered their price objective on Douglas Emmett from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.67.

Douglas Emmett Stock Performance

Douglas Emmett stock traded up $0.07 during trading on Friday, hitting $13.38. The stock had a trading volume of 896,230 shares, compared to its average volume of 1,870,841. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -51.46 and a beta of 1.07. The stock’s 50 day moving average is $13.40 and its two-hundred day moving average is $13.26. Douglas Emmett, Inc. has a 1 year low of $10.09 and a 1 year high of $16.12. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 1.44.

Douglas Emmett Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.68%. Douglas Emmett’s dividend payout ratio (DPR) is currently -292.31%.

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.