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

Douglas Emmett, Inc. (NYSE:DEI) declared a quarterly dividend on Wednesday, June 17th, Zacks reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.28 per share by the real estate investment trust on Wednesday, July 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Monday, June 29th.

Douglas Emmett has a dividend payout ratio of 658.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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%.

NYSE:DEI opened at $30.19 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market cap of $5.29 billion, a PE ratio of 14.66, a P/E/G ratio of 2.56 and a beta of 0.73. The firm has a 50 day simple moving average of $29.87 and a 200-day simple moving average of $35.85. Douglas Emmett has a 1-year low of $23.16 and a 1-year high of $45.59.

Douglas Emmett (NYSE:DEI) last released its earnings results on Thursday, May 7th. The real estate investment trust reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.40). Douglas Emmett had a return on equity of 8.75% and a net margin of 37.55%. The firm had revenue of $251.40 million during the quarter, compared to analysts’ expectations of $236.99 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts expect that Douglas Emmett will post 2.13 earnings per share for the current fiscal year.

In other Douglas Emmett news, Director Christopher H. Anderson purchased 40,000 shares of Douglas Emmett stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $30.32 per share, with a total value of $1,212,800.00. Following the completion of the acquisition, the director now owns 2,341,660 shares of the company’s stock, valued at approximately $70,999,131.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.90% of the company’s stock.

DEI has been the topic of a number of research analyst reports. Evercore ISI raised Douglas Emmett from an “in-line” rating to an “outperform” rating and decreased their price target for the stock from $45.00 to $35.00 in a research note on Wednesday, March 25th. Stifel Nicolaus decreased their price objective on shares of Douglas Emmett from $47.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, April 3rd. Wells Fargo & Co cut their target price on shares of Douglas Emmett from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 10th. JPMorgan Chase & Co. decreased their price target on shares of Douglas Emmett from $44.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Finally, Citigroup raised their price objective on Douglas Emmett from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $37.82.

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.

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Dividend History for Douglas Emmett (NYSE:DEI)

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