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

Douglas Emmett, Inc. (NYSE:DEI – Get Rating) declared a quarterly dividend on Wednesday, May 24th, Zacks reports. Investors of record on Friday, June 30th will be given a dividend of 0.19 per share by the real estate investment trust on Tuesday, July 18th. This represents a $0.76 annualized dividend 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% per year over the last three years. Douglas Emmett has a dividend payout ratio of 292.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 %

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

Hedge Funds Weigh In On Douglas Emmett

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new stake in Douglas Emmett in the first quarter worth approximately $210,000. PNC Financial Services Group Inc. lifted its position in Douglas Emmett by 16.9% in the first 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 period. Natixis Advisors L.P. acquired a new stake in Douglas Emmett in the first quarter worth approximately $371,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Douglas Emmett by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,314 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 6,132 shares during the period. Finally, APG Asset Management N.V. acquired a new stake in Douglas Emmett in the first quarter worth approximately $448,000. 97.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on DEI shares. Wells Fargo & Company cut their price target on Douglas Emmett from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, March 16th. StockNews.com initiated coverage on Douglas Emmett in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Evercore ISI cut their price objective on Douglas Emmett from $17.00 to $16.00 in a research note on Monday, March 27th. JPMorgan Chase & Co. cut their price objective on Douglas Emmett from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, April 10th. Finally, TheStreet cut Douglas Emmett from a “c” rating to a “d+” rating in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock 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.