Douglas Emmett, Inc. (NYSE:DEI) declared a quarterly dividend on Thursday, May 30th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.26 per share by the real estate investment trust on Friday, July 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, June 27th.
Douglas Emmett has increased its dividend by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 8 years. Douglas Emmett has a dividend payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Douglas Emmett to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 47.3%.
Shares of DEI stock traded up $0.19 during mid-day trading on Tuesday, hitting $40.83. 11,356 shares of the stock were exchanged, compared to its average volume of 705,367. The firm’s fifty day moving average price is $41.02. The company has a market capitalization of $6.96 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 3.16 and a beta of 0.74. Douglas Emmett has a 12-month low of $32.32 and a 12-month high of $42.41. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.09.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $224.19 million for the quarter, compared to analyst estimates of $227.52 million. Douglas Emmett had a return on equity of 3.01% and a net margin of 13.45%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 earnings per share. As a group, analysts anticipate that Douglas Emmett will post 2.11 earnings per share for the current year.
Separately, Zacks Investment Research lowered Douglas Emmett from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Douglas Emmett presently has a consensus rating of “Hold” and a consensus target price of $41.33.
In other news, Chairman Dan A. Emmett sold 40,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $40.78, for a total transaction of $1,631,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.20% of the company’s stock.
About Douglas Emmett
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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