Douglas Emmett, Inc. Declares Quarterly Dividend of $0.28 (NYSE:DEI)

Posted by on May 28th, 2022

Douglas Emmett, Inc. (NYSE:DEI – Get Rating) announced a quarterly dividend on Thursday, May 26th, Zacks reports. Stockholders of record on Thursday, June 30th will be given a dividend of 0.28 per share by the real estate investment trust on Friday, July 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, June 29th.

Douglas Emmett has increased its dividend payment by an average of 3.5% per year over the last three years. Douglas Emmett has a dividend payout ratio of 141.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Douglas Emmett to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 50.7%.

DEI stock opened at $28.57 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.99 and a quick ratio of 2.99. The business has a 50 day simple moving average of $30.46 and a 200-day simple moving average of $32.32. The firm has a market capitalization of $5.02 billion, a PE ratio of 64.93, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. Douglas Emmett has a 1 year low of $26.60 and a 1 year high of $36.97.

Douglas Emmett (NYSE:DEI – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.36). The company had revenue of $238.88 million during the quarter, compared to analysts’ expectations of $240.76 million. Douglas Emmett had a net margin of 9.09% and a return on equity of 1.97%. Douglas Emmett’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. On average, equities research analysts expect that Douglas Emmett will post 2.04 EPS for the current year.

A number of institutional investors have recently modified their holdings of DEI. State Street Corp lifted its stake in Douglas Emmett by 13.1% during the first quarter. State Street Corp now owns 9,474,627 shares of the real estate investment trust’s stock worth $319,244,000 after purchasing an additional 1,095,717 shares in the last quarter. Wellington Management Group LLP lifted its stake in Douglas Emmett by 12.5% during the first quarter. Wellington Management Group LLP now owns 6,844,166 shares of the real estate investment trust’s stock worth $228,732,000 after purchasing an additional 759,320 shares in the last quarter. BlackRock Inc. lifted its stake in Douglas Emmett by 3.0% during the fourth quarter. BlackRock Inc. now owns 19,794,944 shares of the real estate investment trust’s stock worth $663,130,000 after purchasing an additional 572,689 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in Douglas Emmett during the first quarter worth $17,790,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Douglas Emmett by 74.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 891,653 shares of the real estate investment trust’s stock worth $29,799,000 after purchasing an additional 380,811 shares in the last quarter. Institutional investors own 97.71% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Douglas Emmett in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Evercore ISI upgraded Douglas Emmett from an “in-line” rating to an “outperform” rating and set a $37.00 price objective for the company in a research report on Thursday, March 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $39.67.

About Douglas Emmett (Get Rating)

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.

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