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

Douglas Emmett, Inc. (NYSE:DEI - Get Free Report) declared a quarterly dividend on Thursday, May 29th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, July 15th. This represents a $0.76 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Monday, June 30th.

Douglas Emmett has decreased its dividend payment by an average of 7.2% per year over the last three years. Douglas Emmett has a dividend payout ratio of -400.0% meaning 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 $1.49 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 51.0%.

Douglas Emmett Price Performance

Shares of DEI traded down $0.34 during trading hours on Friday, hitting $14.20. 2,006,859 shares of the company were exchanged, compared to its average volume of 1,744,065. The company has a market capitalization of $2.38 billion, a PE ratio of 109.24 and a beta of 1.21. The firm has a fifty day simple moving average of $14.40 and a 200-day simple moving average of $16.61. The company has a debt-to-equity ratio of 1.50, a current ratio of 4.32 and a quick ratio of 4.09. Douglas Emmett has a one year low of $12.39 and a one year high of $20.50.

Douglas Emmett (NYSE:DEI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.01. Douglas Emmett had a return on equity of 0.63% and a net margin of 2.38%. The firm had revenue of $251.54 million during the quarter, compared to analysts' expectations of $246.49 million. During the same quarter last year, the firm earned $0.45 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Douglas Emmett will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On Douglas Emmett

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in Douglas Emmett by 43.4% during the first quarter. Royal Bank of Canada now owns 29,746 shares of the real estate investment trust's stock worth $476,000 after acquiring an additional 9,007 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Douglas Emmett by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,105 shares of the real estate investment trust's stock worth $1,538,000 after buying an additional 4,186 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Douglas Emmett by 8.4% in the first quarter. Empowered Funds LLC now owns 24,086 shares of the real estate investment trust's stock worth $385,000 after purchasing an additional 1,864 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Douglas Emmett by 33.4% in the first quarter. Intech Investment Management LLC now owns 83,994 shares of the real estate investment trust's stock valued at $1,344,000 after buying an additional 21,035 shares during the period. Institutional investors own 97.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DEI. Piper Sandler dropped their price objective on Douglas Emmett from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Wells Fargo & Company reduced their price objective on Douglas Emmett from $20.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Jefferies Financial Group began coverage on shares of Douglas Emmett in a research report on Monday, March 17th. They set a "hold" rating and a $16.00 target price for the company. Finally, Wall Street Zen upgraded shares of Douglas Emmett from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Douglas Emmett has an average rating of "Hold" and an average price target of $18.13.

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.