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Douglas Emmett

NYSE:DEI
Snowflake Description

Established dividend payer with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DEI
NYSE
$8B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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. The last earnings update was 14 days ago. More info.


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DEI Share Price and Events
7 Day Returns
0.8%
NYSE:DEI
1.8%
US REITs
-0.7%
US Market
1 Year Returns
11.9%
NYSE:DEI
16.3%
US REITs
3%
US Market
DEI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Douglas Emmett (DEI) 0.8% 1.6% 6.6% 11.9% 26.5% 46.9%
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • DEI underperformed the REITs industry which returned 16.3% over the past year.
  • DEI outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
DEI
Industry
5yr Volatility vs Market

DEI Value

 Is Douglas Emmett undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Douglas Emmett to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Douglas Emmett.

NYSE:DEI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:DEI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (50.92%))
0.829
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.829 * 5.96%)
7.67%

Discounted Cash Flow Calculation for NYSE:DEI using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Douglas Emmett is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Douglas Emmett is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:DEI DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.67%)
2019 334.33 Analyst x9 310.52
2020 351.18 Analyst x9 302.93
2021 374.40 Analyst x1 299.95
2022 392.31 Est @ 4.78% 291.91
2023 408.66 Est @ 4.17% 282.42
2024 423.93 Est @ 3.74% 272.10
2025 438.49 Est @ 3.43% 261.40
2026 452.63 Est @ 3.22% 250.60
2027 466.55 Est @ 3.08% 239.91
2028 480.41 Est @ 2.97% 229.44
Present value of next 10 years cash flows $2,741.16
NYSE:DEI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $480.41 × (1 + 2.73%) ÷ (7.67% – 2.73%)
$9,990.41
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $9,990.41 ÷ (1 + 7.67%)10
$4,771.29
NYSE:DEI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,741.16 + $4,771.29
$7,512.45
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,512.45 / 196.61
$38.21
NYSE:DEI Discount to Share Price
Calculation Result
Value per share (USD) From above. $38.21
Current discount Discount to share price of $41.41
= -1 x ($41.41 - $38.21) / $38.21
-8.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Douglas Emmett is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Douglas Emmett's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Douglas Emmett's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:DEI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.68
NYSE:DEI Share Price ** NYSE (2019-05-17) in USD $41.41
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Douglas Emmett.

NYSE:DEI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:DEI Share Price ÷ EPS (both in USD)

= 41.41 ÷ 0.68

60.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Douglas Emmett is overvalued based on earnings compared to the US REITs industry average.
  • Douglas Emmett is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Douglas Emmett's expected growth come at a high price?
Raw Data
NYSE:DEI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 60.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
6.7%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:DEI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 60.69x ÷ 6.7%

9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Douglas Emmett is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Douglas Emmett's assets?
Raw Data
NYSE:DEI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $13.87
NYSE:DEI Share Price * NYSE (2019-05-17) in USD $41.41
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:DEI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:DEI Share Price ÷ Book Value per Share (both in USD)

= 41.41 ÷ 13.87

2.98x

* Primary Listing of Douglas Emmett.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Douglas Emmett is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Douglas Emmett's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Douglas Emmett has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

DEI Future Performance

 How is Douglas Emmett expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Douglas Emmett expected to grow at an attractive rate?
  • Douglas Emmett's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Douglas Emmett's earnings growth is positive but not above the United States of America market average.
  • Douglas Emmett's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:DEI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:DEI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 6.7%
NYSE:DEI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 3.4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:DEI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:DEI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 980 130 2
2020-12-31 947 127 6
2019-12-31 913 113 5
NYSE:DEI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 900 448 116
2018-12-31 888 433 116
2018-09-30 870 426 119
2018-06-30 855 420 114
2018-03-31 835 413 103
2017-12-31 818 403 94
2017-09-30 804 382 84
2017-06-30 789 371 90
2017-03-31 777 357 89
2016-12-31 750 339 85
2016-09-30 718 331 79
2016-06-30 685 302 60

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Douglas Emmett's earnings are expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
  • Douglas Emmett's revenue is expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:DEI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Douglas Emmett Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:DEI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.59 0.59 0.59 1.00
2020-12-31 0.67 0.80 0.51 4.00
2019-12-31 0.60 0.73 0.45 4.00
NYSE:DEI Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.68
2018-12-31 0.68
2018-09-30 0.70
2018-06-30 0.68
2018-03-31 0.62
2017-12-31 0.58
2017-09-30 0.54
2017-06-30 0.59
2017-03-31 0.59
2016-12-31 0.57
2016-09-30 0.54
2016-06-30 0.41

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Douglas Emmett is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Douglas Emmett's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Douglas Emmett has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

DEI Past Performance

  How has Douglas Emmett performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Douglas Emmett's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Douglas Emmett has delivered over 20% year on year earnings growth in the past 5 years.
  • Douglas Emmett's 1-year earnings growth is less than its 5-year average (12.7% vs 22.4%)
  • Douglas Emmett's earnings growth has not exceeded the US REITs industry average in the past year (12.7% vs 16%).
Earnings and Revenue History
Douglas Emmett's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Douglas Emmett Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:DEI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 899.70 116.03 38.91
2018-12-31 887.72 115.54 38.64
2018-09-30 870.21 119.26 37.49
2018-06-30 855.44 114.32 36.49
2018-03-31 835.05 102.96 37.05
2017-12-31 817.96 93.82 36.23
2017-09-30 804.18 84.16 36.57
2017-06-30 788.75 90.36 36.23
2017-03-31 776.86 88.60 35.64
2016-12-31 750.36 84.93 34.96
2016-09-30 718.05 79.41 34.37
2016-06-30 684.57 59.75 33.14
2016-03-31 657.37 54.75 31.21
2015-12-31 643.47 58.07 30.50
2015-09-30 630.97 54.84 28.85
2015-06-30 618.80 50.19 28.64
2015-03-31 609.50 50.13 27.88
2014-12-31 603.24 44.45 27.33
2014-09-30 598.60 42.45 26.07
2014-06-30 600.29 45.83 25.96
2014-03-31 597.98 46.15 26.33
2013-12-31 594.62 45.13 26.61
2013-09-30 591.40 42.44 28.62
2013-06-30 586.23 36.75 28.68
2013-03-31 581.53 29.64 28.34
2012-12-31 577.29 22.94 27.94
2012-09-30 575.56 20.39 28.08
2012-06-30 574.01 18.73 28.42

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Douglas Emmett has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Douglas Emmett used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Douglas Emmett has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Douglas Emmett's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Douglas Emmett has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

DEI Health

 How is Douglas Emmett's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Douglas Emmett's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Douglas Emmett is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Douglas Emmett's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Douglas Emmett's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Douglas Emmett Company Filings, last reported 1 month ago.

NYSE:DEI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,788.18 4,145.44 196.60
2018-12-31 3,848.43 4,135.56 219.64
2018-09-30 3,923.54 4,122.28 297.11
2018-06-30 3,930.29 4,106.50 286.48
2018-03-31 3,926.47 4,098.95 282.47
2017-12-31 3,902.05 4,118.20 236.71
2017-09-30 3,787.08 4,050.83 204.86
2017-06-30 3,390.54 4,317.49 210.24
2017-03-31 2,951.31 4,394.01 126.77
2016-12-31 3,014.07 4,376.37 148.58
2016-09-30 2,967.04 4,429.90 158.42
2016-06-30 2,713.72 4,326.98 77.17
2016-03-31 2,560.62 4,503.03 73.68
2015-12-31 2,281.55 3,627.59 106.63
2015-09-30 2,269.81 3,505.58 9.93
2015-06-30 2,298.11 3,581.10 77.35
2015-03-31 2,305.19 3,538.74 16.64
2014-12-31 2,313.72 3,457.05 18.82
2014-09-30 2,321.02 3,252.84 12.47
2014-06-30 2,333.37 3,274.09 12.79
2014-03-31 2,349.49 3,278.10 12.42
2013-12-31 2,367.21 3,304.28 44.21
2013-09-30 2,376.26 3,422.25 148.81
2013-06-30 2,393.61 3,422.46 184.42
2013-03-31 2,382.61 3,444.42 292.64
2012-12-31 2,390.46 3,541.43 373.21
2012-09-30 2,396.24 3,552.13 369.03
2012-06-30 2,414.95 3,363.61 162.05
  • Douglas Emmett's level of debt (109.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (139.5% vs 109.4% today).
  • Debt is not well covered by operating cash flow (10.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Douglas Emmett's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Douglas Emmett has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

DEI Dividends

 What is Douglas Emmett's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.51%
Current annual income from Douglas Emmett dividends. Estimated to be 2.63% next year.
If you bought $2,000 of Douglas Emmett shares you are expected to receive $50 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Douglas Emmett's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Douglas Emmett's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:DEI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:DEI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.16 3.00
2020-12-31 1.09 12.00
2019-12-31 1.04 6.00
NYSE:DEI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-08 1.040 2.543
2018-12-06 1.040 2.853
2018-09-17 1.000 2.731
2018-05-31 1.000 2.553
2018-03-01 1.000 2.706
2017-12-07 1.000 2.598
2017-09-07 0.920 2.306
2017-06-01 0.920 2.407
2017-03-02 0.920 2.387
2016-12-08 0.920 2.433
2016-09-12 0.880 2.434
2016-06-02 0.880 2.436
2016-03-03 0.880 2.811
2015-12-03 0.880 3.076
2015-09-14 0.840 2.772
2015-05-28 0.840 2.926
2015-03-12 0.840 2.867
2014-12-05 0.840 2.920
2014-09-15 0.800 2.954
2014-05-29 0.800 2.808
2014-03-13 0.800 2.920
2013-11-05 0.800 3.263
2013-09-04 0.720 2.987
2013-06-04 0.720 2.926
2013-03-07 0.720 2.781
2013-01-15 0.720 3.013
2012-09-13 0.600 2.573
2012-05-24 0.600 2.598
2012-03-05 0.600 2.661
2011-12-01 0.520 2.638
2011-09-01 0.520 2.918
2011-05-31 0.520 2.709
2011-03-04 0.400 2.071
2010-12-03 0.400 2.290
2010-09-10 0.400 2.292
2010-05-27 0.400 2.585
2010-03-08 0.400 2.494
2009-12-03 0.400 2.845
2009-09-03 0.400 3.132
2009-06-11 0.400 4.041

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Douglas Emmett's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (398.4x coverage).
X
Income/ dividend checks
We assess Douglas Emmett's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Douglas Emmett afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Douglas Emmett has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

DEI Management

 What is the CEO of Douglas Emmett's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jordan Kaplan
COMPENSATION $8,738,314
AGE 57
TENURE AS CEO 14.3 years
CEO Bio

Mr. Jordan L. Kaplan serves as the Chief Executive Officer, President and a Member of the Board at Douglas Emmett Inc. since 2005. Mr. Kaplan joined Douglas Emmett and Company in 1986. He co-founded Douglas Emmett Realty Advisors and P.L.E. Builders, Inc. in 1991 and served as the Chief Financial Officer and Director of the Capital Markets Division for all of Douglas Emmett, operating companies since 1991. Since founding DERA, Mr. Kaplan has been responsible for all capital markets transactions including all acquisitions, dispositions and financings. He serves as a Member of International Advisory Board of Hypothekenbank Frankfurt Aktiengesellschaft. Mr. Kaplan received his M.B.A from the University of California, Los Angeles in 1986 and his Bachelor's Degree from the University of California, Santa Barbara in 1983.

CEO Compensation
  • Jordan's compensation has been consistent with company performance over the past year.
  • Jordan's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Douglas Emmett management team in years:

12.6
Average Tenure
57
Average Age
  • The average tenure for the Douglas Emmett management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dan Emmett

TITLE
Executive Chairman
COMPENSATION
$253K
AGE
78

Jordan Kaplan

TITLE
President
COMPENSATION
$9M
AGE
57
TENURE
14.3 yrs

Ken Panzer

TITLE
COO & Director
COMPENSATION
$9M
AGE
58
TENURE
12.6 yrs

Kevin Crummy

TITLE
Chief Investment Officer
COMPENSATION
$2M
AGE
52
TENURE
5.3 yrs

Mona Gisler

TITLE
Chief Accounting Officer
COMPENSATION
$617K
AGE
44

Peter Seymour

TITLE
Chief Financial Officer
AGE
50
TENURE
0.3 yrs

Stuart McElhinney

TITLE
Vice President of Investor Relations

Michael Means

TITLE
Senior Vice President of Commercial Leasing
AGE
57

Allan Golad

TITLE
Senior Vice President of Property Management
AGE
63
TENURE
12.6 yrs

Ted Guth

TITLE
Senior Advisor
COMPENSATION
$2M
AGE
63
Board of Directors Tenure

Average tenure and age of the Douglas Emmett board of directors in years:

12.6
Average Tenure
62
Average Age
  • The average tenure for the Douglas Emmett board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Jordan Kaplan

TITLE
President
COMPENSATION
$9M
AGE
57
TENURE
14.3 yrs

Ken Panzer

TITLE
COO & Director
COMPENSATION
$9M
AGE
58
TENURE
12.6 yrs

Tom O'Hern

TITLE
Director
COMPENSATION
$202K
AGE
62
TENURE
12.6 yrs

Dan Emmett

TITLE
Executive Chairman
COMPENSATION
$253K
AGE
78
TENURE
14.3 yrs

Les Bider

TITLE
Director
COMPENSATION
$195K
AGE
67
TENURE
12.6 yrs

William Simon

TITLE
Lead Independent Director
COMPENSATION
$162K
AGE
67

David Feinberg

TITLE
Director
COMPENSATION
$183K
AGE
56
TENURE
3.3 yrs

Chris Anderson

TITLE
Director
COMPENSATION
$183K
AGE
75
TENURE
7.5 yrs

Virginia McFerran

TITLE
Director
COMPENSATION
$183K
AGE
54
TENURE
4 yrs
Who owns this company?
Recent Insider Trading
  • Douglas Emmett insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
09. May 19 Sell Dan Emmett Individual 08. May 19 08. May 19 -40,000 $40.78 $-1,631,268
21. Dec 18 Buy William Simon Individual 20. Dec 18 20. Dec 18 8,700 $34.17 $297,296
05. Jun 18 Buy William Simon Individual 01. Jun 18 01. Jun 18 7,700 $38.55 $296,861
X
Management checks
We assess Douglas Emmett's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Douglas Emmett has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

DEI News

Simply Wall St News

Is Douglas Emmett, Inc. (NYSE:DEI) An Attractive Dividend Stock?

(NYSE:DEI) a good dividend stock? … Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. … While Douglas Emmett's 2.6% dividend yield is not the highest, we think its lengthy payment history is quite interesting.

Simply Wall St -

Why You Shouldn't Look At Douglas Emmett, Inc.'s (NYSE:DEI) Bottom Line

real estate investment trust (REIT) based in Santa Monica, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.

Simply Wall St -

Based On Its ROE, Is Douglas Emmett, Inc. (NYSE:DEI) A High Quality Stock?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Douglas Emmett has a return on equity of 3.3% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Douglas Emmett, Inc. (NYSE:DEI) Potentially Undervalued?

As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, could the stock still be trading at a relatively cheap price. … Today I will analyse the most recent data on Douglas Emmett’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

What Can We Expect From Douglas Emmett, Inc.'s (NYSE:DEI) Earnings In Next 12 Months?

(NYSE:DEI) released its latest earnings announcement on 31 December 2018, … as a -2.4% fall in profits is expected in the upcoming year

Simply Wall St -

How Much is Douglas Emmett, Inc.'s (NYSE:DEI) CEO Getting Paid?

Jordan Kaplan became the CEO of Douglas Emmett, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Jordan Kaplan's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Have Insiders Been Buying Douglas Emmett, Inc. (NYSE:DEI) Shares?

We often see insiders buying up shares in companies that perform well over the long term. … So shareholders might well want to know whether insiders have been buying or selling shares in Douglas Emmett, Inc. … In any event it's generally a positive if insiders are buying shares at around the current price

Simply Wall St -

One Metric To Rule Them All: Douglas Emmett, Inc. (NYSE:DEI)

This impacts how DEI’s business operates and also how we should analyse its stock. … REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities … These items can distort the bottom line and not necessarily reflective of DEI’s daily operations

Simply Wall St -

Is Douglas Emmett Inc's (NYSE:DEI) 3.5% Worse Than Average?

Douglas Emmett has a ROE of 3.5%, based on the last twelve months. … That means that for every $1 worth of shareholders' equity, it generated $0.035 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Douglas Emmett Inc's (NYSE:DEI) CEO Salary Justified?

How Does Jordan Kaplan's Compensation Compare With Similar Sized Companies. … Our data indicates that Douglas Emmett Inc is worth US$7.3b, and total annual CEO compensation is US$9m. … So Jordan Kaplan receives a similar amount to the median CEO pay, amongst the companies we looked at.

Simply Wall St -

DEI Company Info

Description

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.

Details
Name: Douglas Emmett, Inc.
DEI
Exchange: NYSE
Founded: 1971
$8,141,580,719
$7,051,481,766
196,609,049
Website: http://www.douglasemmett.com
Address: Douglas Emmett, Inc.
1299 Ocean Avenue,
Suite 1000,
Santa Monica,
California, 90401,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE DEI Common Shares New York Stock Exchange US USD 24. Oct 2006
DB D8K Common Shares Deutsche Boerse AG DE EUR 24. Oct 2006
Number of employees
Current staff
Staff numbers
670
Douglas Emmett employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:05
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/18
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.