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

Douglas Emmett, Inc. (NYSE:DEI) announced a quarterly dividend on Thursday, September 5th, NASDAQ reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, October 16th. This represents a $0.76 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Monday, September 30th.

Douglas Emmett has raised its dividend payment by an average of 10.3% annually over the last three years. Douglas Emmett has a dividend payout ratio of -316.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Douglas Emmett to earn $1.45 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 52.4%.

Douglas Emmett Stock Down 1.1 %

DEI traded down $0.17 during midday trading on Friday, hitting $15.61. 941,546 shares of the company’s stock traded hands, compared to its average volume of 1,679,090. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.11 and a quick ratio of 5.11. The company has a market cap of $2.61 billion, a PE ratio of -50.34 and a beta of 1.09. Douglas Emmett has a one year low of $10.76 and a one year high of $16.57. The stock’s fifty day simple moving average is $14.94 and its 200-day simple moving average is $14.02.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.37). The business had revenue of $245.80 million during the quarter, compared to analyst estimates of $246.62 million. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, equities analysts anticipate that Douglas Emmett will post 1.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on DEI. StockNews.com raised Douglas Emmett from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Scotiabank upped their price target on Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Piper Sandler boosted their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Evercore ISI increased their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Douglas Emmett currently has a consensus rating of “Hold” and an average price target of $15.20.

Insider Activity

In other news, Director William E. Simon, Jr. bought 45,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $13.15 per share, for a total transaction of $591,750.00. Following the completion of the acquisition, the director now owns 45,000 shares in the company, valued at approximately $591,750. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.70% of the stock is currently owned by company insiders.

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.