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.
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.
Recommended Story: Trading Ex-Dividend Strategy
Receive News & Ratings for Douglas Emmett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Douglas Emmett and related companies with MarketBeat.com's FREE daily email newsletter.