Douglas Emmett, Inc. (NYSE:DEI) declared a quarterly dividend on Thursday, May 30th, Zacks reports. Shareholders of record on Friday, June 28th will be given 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 yield of 2.60%. 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 annually for the last 8 consecutive years. Douglas Emmett has a payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Douglas Emmett to earn $2.19 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 47.5%.
Douglas Emmett stock opened at $40.07 on Wednesday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 3.14 and a beta of 0.74. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $41.01. Douglas Emmett has a twelve month low of $32.32 and a twelve month high of $42.41.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The firm had revenue of $224.19 million for the quarter, compared to analyst estimates of $227.52 million. Douglas Emmett had a net margin of 13.45% and a return on equity of 3.01%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. Research analysts expect that Douglas Emmett will post 2.11 EPS for the current fiscal year.
In other news, Chairman Dan A. Emmett sold 40,000 shares of the stock in a transaction on 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 16.20% of the company’s stock.
Separately, Zacks Investment Research lowered shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating and five 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 $41.33.
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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