Douglas Emmett, Inc. Announces Quarterly Dividend of $0.19 (NYSE:DEI)

Douglas Emmett, Inc. (NYSE:DEI) declared a quarterly dividend on Thursday, May 29th, RTT News reports. Shareholders of record on Monday, June 30th will be given a dividend of 0.19 per share by the real estate investment trust on Tuesday, July 15th. This represents a $0.76 annualized dividend and a dividend yield of 5.23%.

Douglas Emmett has decreased its dividend by an average of 7.2% annually over the last three years. Douglas Emmett has a payout ratio of -400.0% 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 $1.49 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 51.0%.

Douglas Emmett Trading Up 2.3%

Shares of DEI stock opened at $14.54 on Friday. The company has a current ratio of 4.32, a quick ratio of 4.09 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 111.85 and a beta of 1.21. Douglas Emmett has a 12-month low of $12.39 and a 12-month high of $20.50. The stock’s 50-day moving average price is $14.45 and its 200-day moving average price is $16.65.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Douglas Emmett had a return on equity of 0.63% and a net margin of 2.38%. The business had revenue of $251.54 million for the quarter, compared to analysts’ expectations of $246.49 million. During the same period in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts predict that Douglas Emmett will post 1.45 EPS for the current fiscal year.

Institutional Trading of Douglas Emmett

A number of large investors have recently modified their holdings of the company. Intech Investment Management LLC lifted its holdings in shares of Douglas Emmett by 33.4% in the 1st quarter. Intech Investment Management LLC now owns 83,994 shares of the real estate investment trust’s stock worth $1,344,000 after buying an additional 21,035 shares during the period. Empowered Funds LLC raised its holdings in shares of Douglas Emmett by 8.4% in the first quarter. Empowered Funds LLC now owns 24,086 shares of the real estate investment trust’s stock valued at $385,000 after acquiring an additional 1,864 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Douglas Emmett by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,105 shares of the real estate investment trust’s stock worth $1,538,000 after acquiring an additional 4,186 shares during the period. Finally, Royal Bank of Canada increased its position in Douglas Emmett by 43.4% during the 1st quarter. Royal Bank of Canada now owns 29,746 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 9,007 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Douglas Emmett from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Wells Fargo & Company reduced their target price on shares of Douglas Emmett from $20.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Jefferies Financial Group started coverage on shares of Douglas Emmett in a research note on Monday, March 17th. They set a “hold” rating and a $16.00 price target for the company. Finally, Piper Sandler decreased their price objective on shares of Douglas Emmett from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.13.

Douglas Emmett Company 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.