Douglas Emmett, Inc. Declares Quarterly Dividend of $0.23 (DEI)
Douglas Emmett, Inc. (NYSE:DEI) announced a quarterly dividend on Friday, September 8th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be given a dividend of 0.23 per share by the real estate investment trust on Friday, October 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 28th.
Douglas Emmett has raised its dividend payment by an average of 6.9% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Douglas Emmett has a dividend payout ratio of 48.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Douglas Emmett to earn $0.70 per share next year, which means the company may not be able to cover its $0.92 annual dividend with an expected future payout ratio of 131.4%.
Douglas Emmett (DEI) traded down 0.13% during midday trading on Friday, hitting $38.67. The stock had a trading volume of 788,551 shares. Douglas Emmett has a one year low of $33.78 and a one year high of $40.79. The firm has a market cap of $6.30 billion, a PE ratio of 66.10 and a beta of 0.69. The stock has a 50-day moving average price of $38.15 and a 200 day moving average price of $38.48.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.01. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The company had revenue of $199.60 million for the quarter, compared to analyst estimates of $198.60 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts predict that Douglas Emmett will post $0.55 earnings per share for the current year.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction on Friday, June 16th. The stock was sold at an average price of $38.97, for a total transaction of $3,897,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 300,000 shares of company stock worth $11,490,000 in the last ninety days. 17.80% of the stock is owned by company insiders.
A number of research analysts recently issued reports on DEI shares. Stifel Nicolaus upgraded Douglas Emmett from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $42.00 in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Tuesday, July 18th. BMO Capital Markets restated a “hold” rating and set a $39.00 price objective on shares of Douglas Emmett in a research report on Tuesday, July 4th. BidaskClub upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Janney Montgomery Scott started coverage on Douglas Emmett in a research report on Friday. They set a “neutral” rating for the company. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $39.56.
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About Douglas Emmett
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in Los Angeles and Honolulu. The Company operates through two segments: the acquisition, development, ownership and management of office real estate (Office Segment), and the acquisition, development, ownership and management of multifamily real estate (Multifamily Segment).
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