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

Douglas Emmett, Inc. (NYSE:DEI – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Friday, June 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, July 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date is Thursday, June 29th.

Douglas Emmett has decreased its dividend by an average of 1.0% annually over the last three years. Douglas Emmett has a payout ratio of 292.3% 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 research analysts expect Douglas Emmett to earn $1.82 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 41.8%.

Douglas Emmett Trading Down 1.2 %

Shares of NYSE:DEI opened at $11.17 on Friday. Douglas Emmett has a 1 year low of $10.09 and a 1 year high of $28.65. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 21.90 and a beta of 0.94. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.54 and a quick ratio of 2.54. The business’s 50 day moving average price is $11.94 and its 200-day moving average price is $14.37.

Hedge Funds Weigh In On Douglas Emmett

Hedge funds and other institutional investors have recently modified their holdings of the company. Cibc World Markets Corp raised its holdings in shares of Douglas Emmett by 0.7% during the 1st quarter. Cibc World Markets Corp now owns 88,337 shares of the real estate investment trust’s stock valued at $2,952,000 after buying an additional 610 shares during the period. Centersquare Investment Management LLC increased its holdings in Douglas Emmett by 0.3% during the 1st quarter. Centersquare Investment Management LLC now owns 218,255 shares of the real estate investment trust’s stock worth $7,294,000 after purchasing an additional 635 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Douglas Emmett by 0.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 97,549 shares of the real estate investment trust’s stock worth $2,183,000 after purchasing an additional 761 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Douglas Emmett by 16.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,420 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 1,071 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Douglas Emmett by 9.1% during the 1st quarter. Russell Investments Group Ltd. now owns 13,533 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 1,131 shares during the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DEI has been the subject of a number of recent research reports. Evercore ISI cut their target price on Douglas Emmett from $17.00 to $16.00 in a research note on Monday, March 27th. Wells Fargo & Company cut their price objective on Douglas Emmett from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, March 16th. StockNews.com assumed coverage on Douglas Emmett in a research report on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler raised Douglas Emmett from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $15.00 in a research report on Wednesday, April 5th. Finally, JPMorgan Chase & Co. cut their price objective on Douglas Emmett from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Douglas Emmett currently has a consensus rating of “Hold” and an average target price of $15.78.

About Douglas Emmett

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Douglas Emmett, Inc is a real estate investment trust, engages in the acquisition, development, ownership, and management of real estate properties. It operates through the following segments: Office, and Multifamily. The Office segment comprises rental of office space and other tenant services, including parking and storage space rental.