Douglas Emmett, Inc. (NYSE:DEI) announced a quarterly dividend on Friday, December 7th, Wall Street Journal reports. Shareholders of record on Monday, December 31st will be paid a dividend of 0.26 per share by the real estate investment trust on Tuesday, January 15th. This represents a $1.04 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, December 28th. This is an increase from Douglas Emmett’s previous quarterly dividend of $0.25.
Douglas Emmett has raised its dividend by an average of 4.8% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Douglas Emmett has a payout ratio of 49.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Douglas Emmett to earn $2.10 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 47.6%.
Shares of DEI opened at $36.80 on Friday. The company has a market capitalization of $6.32 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.62. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.96 and a quick ratio of 1.96. Douglas Emmett has a fifty-two week low of $34.72 and a fifty-two week high of $41.59.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.33). The business had revenue of $223.30 million during the quarter, compared to the consensus estimate of $222.50 million. Douglas Emmett had a return on equity of 3.06% and a net margin of 14.32%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Equities research analysts expect that Douglas Emmett will post 2.02 earnings per share for the current year.
A number of equities research analysts have recently weighed in on DEI shares. Sandler O’Neill upgraded shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Thursday, November 15th. Zacks Investment Research upgraded shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Wednesday, October 3rd. Bank of America lowered their price objective on shares of Douglas Emmett from $44.00 to $42.50 and set a “buy” rating for the company in a report on Monday, September 10th. TheStreet lowered shares of Douglas Emmett from a “b-” rating to a “c+” rating in a report on Monday, December 3rd. Finally, Raymond James lowered their price objective on shares of Douglas Emmett from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Douglas Emmett presently has a consensus rating of “Hold” and an average target price of $41.45.
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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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