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

Douglas Emmett, Inc. (NYSE:DEI) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, December 31st.

Douglas Emmett has increased its dividend payment by an average of 10.3% annually over the last three years. Douglas Emmett has a dividend payout ratio of -447.1% 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 $1.50 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 50.7%.

Douglas Emmett Price Performance

Shares of NYSE DEI traded up $0.04 during mid-day trading on Tuesday, reaching $20.32. 1,040,982 shares of the company were exchanged, compared to its average volume of 1,603,332. The stock has a market capitalization of $3.40 billion, a PE ratio of -202.80 and a beta of 1.11. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 1.51. Douglas Emmett has a 52 week low of $12.35 and a 52 week high of $20.50. The company’s 50 day moving average price is $18.76 and its 200 day moving average price is $16.39.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.38). The firm had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. Douglas Emmett had a negative return on equity of 0.43% and a negative net margin of 1.68%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. Sell-side analysts forecast that Douglas Emmett will post 1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Citigroup boosted their price target on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Scotiabank upgraded shares of Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $16.00 to $21.00 in a report on Thursday, November 14th. Evercore ISI raised their price objective on shares of Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Douglas Emmett presently has an average rating of “Hold” and a consensus target price of $17.43.

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.