Douglas Emmett, Inc. (DEI) to Issue Quarterly Dividend of $0.19 on January 15th

Douglas Emmett, Inc. (NYSE:DEI) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders 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 annualized dividend and a dividend yield of 4.07%. 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 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 opened at $18.66 on Thursday. The stock has a market cap of $3.12 billion, a P/E ratio of -186.60 and a beta of 1.11. The firm’s 50-day simple moving average is $18.84 and its 200 day simple moving average is $16.45. Douglas Emmett has a fifty-two week low of $12.35 and a fifty-two week high of $20.50. 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 (NYSE:DEI) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.38). The business had revenue of $250.75 million during 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%. Douglas Emmett’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. Equities analysts expect that Douglas Emmett will post 1.7 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DEI. JPMorgan Chase & Co. upped their target price on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Scotiabank upgraded Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $16.00 to $21.00 in a report on Thursday, November 14th. Evercore ISI lifted their target price on shares of Douglas Emmett from $16.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Citigroup increased their price target on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Company lifted 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.