Douglas Emmett
Market Cap
US$6.3b
Last Updated
2020/12/01 23:58 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 6.4% per year for the next 3 years
Snowflake Analysis
Established dividend payer with proven track record.
Similar Companies
Share Price & News
How has Douglas Emmett's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: DEI is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: DEI's weekly volatility (6%) has been stable over the past year.
Market Performance
7 Day Return
-5.5%
DEI
-0.2%
US REITs
0.6%
US Market
1 Year Return
-28.3%
DEI
-7.6%
US REITs
22.7%
US Market
Return vs Industry: DEI underperformed the US REITs industry which returned -8.3% over the past year.
Return vs Market: DEI underperformed the US Market which returned 21% over the past year.
Shareholder returns
| DEI | Industry | Market | |
|---|---|---|---|
| 7 Day | -5.5% | -0.2% | 0.6% |
| 30 Day | 33.4% | 10.5% | 13.1% |
| 90 Day | 14.6% | 1.3% | 4.5% |
| 1 Year | -25.7%-28.3% | -3.7%-7.6% | 25.5%22.7% |
| 3 Year | -13.6%-21.0% | 20.0%5.7% | 49.0%39.1% |
| 5 Year | 18.3%2.8% | 48.8%18.9% | 98.3%76.5% |
Long-Term Price Volatility Vs. Market
How volatile is Douglas Emmett's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
Can Douglas Emmett, Inc.'s (NYSE:DEI) ROE Continue To Surpass The Industry Average?4 weeks ago | Simply Wall St
Douglas Emmett, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year1 month ago | Simply Wall St
Here's What We Learned About The CEO Pay At Douglas Emmett, Inc. (NYSE:DEI)Valuation
Is Douglas Emmett undervalued compared to its fair value and its price relative to the market?
7.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: DEI ($31.48) is trading below our estimate of fair value ($34.03)
Significantly Below Fair Value: DEI is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: DEI is good value based on its PE Ratio (17.8x) compared to the US REITs industry average (37.5x).
PE vs Market: DEI is good value based on its PE Ratio (17.8x) compared to the US market (19.3x).
Price to Earnings Growth Ratio
PEG Ratio: DEI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: DEI is overvalued based on its PB Ratio (2.3x) compared to the US REITs industry average (1.6x).
Next Steps
Future Growth
How is Douglas Emmett forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
-6.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DEI's earnings are forecast to decline over the next 3 years (-6.4% per year).
Earnings vs Market: DEI's earnings are forecast to decline over the next 3 years (-6.4% per year).
High Growth Earnings: DEI's earnings are forecast to decline over the next 3 years.
Revenue vs Market: DEI's revenue (4.4% per year) is forecast to grow slower than the US market (10.3% per year).
High Growth Revenue: DEI's revenue (4.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: DEI's Return on Equity is forecast to be low in 3 years time (4.3%).
Next Steps
Past Performance
How has Douglas Emmett performed over the past 5 years?
38.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DEI has a large one-off gain of $267.6M impacting its September 30 2020 financial results.
Growing Profit Margin: DEI's current net profit margins (33.6%) are higher than last year (12.2%).
Past Earnings Growth Analysis
Earnings Trend: DEI's earnings have grown significantly by 38.2% per year over the past 5 years.
Accelerating Growth: DEI's earnings growth over the past year (173.7%) exceeds its 5-year average (38.2% per year).
Earnings vs Industry: DEI earnings growth over the past year (173.7%) exceeded the REITs industry 2%.
Return on Equity
High ROE: DEI's Return on Equity (8.6%) is considered low.
Next Steps
Financial Health
How is Douglas Emmett's financial position?
Financial Position Analysis
Short Term Liabilities: DEI's short term assets ($344.9M) do not cover its short term liabilities ($487.8M).
Long Term Liabilities: DEI's short term assets ($344.9M) do not cover its long term liabilities ($4.8B).
Debt to Equity History and Analysis
Debt Level: DEI's debt to equity ratio (123.7%) is considered high.
Reducing Debt: DEI's debt to equity ratio has reduced from 154.5% to 123.7% over the past 5 years.
Debt Coverage: DEI's debt is not well covered by operating cash flow (9.4%).
Interest Coverage: DEI's interest payments on its debt are not well covered by EBIT (1.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Douglas Emmett current dividend yield, its reliability and sustainability?
3.56%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: DEI's dividend (3.56%) is higher than the bottom 25% of dividend payers in the US market (1.5%).
High Dividend: DEI's dividend (3.56%) is low compared to the top 25% of dividend payers in the US market (4.18%).
Stability and Growth of Payments
Stable Dividend: DEI's dividends per share have been stable in the past 10 years.
Growing Dividend: DEI's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (49.6%), DEI's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: DEI's dividends in 3 years are forecast to be covered by earnings (56.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
14.1yrs
Average management tenure
CEO
Jordan Kaplan (59 yo)
15.83yrs
Tenure
US$9,434,604
Compensation
Mr. Jordan L. Kaplan serves as the Chief Executive Officer, President and a Member of the Board at Douglas Emmett Inc. since 2005. Mr. Kaplan joined Douglas Emmett and Company in 1986. He co-founded Dougla...
CEO Compensation Analysis
Compensation vs Market: Jordan's total compensation ($USD9.43M) is above average for companies of similar size in the US market ($USD6.90M).
Compensation vs Earnings: Jordan's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 15.83yrs | US$253.61k | 0.63% $ 39.7m | |
| President | 15.83yrs | US$9.43m | 1.58% $ 100.1m | |
| Chief Financial Officer | 1.75yrs | US$1.20m | no data | |
| COO & Director | 14.08yrs | US$9.43m | 0.50% $ 31.5m | |
| Chief Investment Officer | 6.83yrs | US$2.70m | 0.0013% $ 84.2k | |
| Chief Accounting Officer | no data | US$363.50k | 0% $ 0 | |
| Vice President of Investor Relations | no data | no data | no data | |
| Senior Vice President of Commercial Leasing | no data | no data | no data | |
| Senior Vice President of Property Management | 14.08yrs | no data | no data | |
| Secretary | no data | no data | no data | |
| Senior Advisor | no data | US$1.62m | no data |
14.1yrs
Average Tenure
59yo
Average Age
Experienced Management: DEI's management team is seasoned and experienced (14.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 15.83yrs | US$253.61k | 0.63% $ 39.7m | |
| President | 15.83yrs | US$9.43m | 1.58% $ 100.1m | |
| COO & Director | 14.08yrs | US$9.43m | 0.50% $ 31.5m | |
| Independent Director | 9yrs | US$182.89k | 1.34% $ 84.7m | |
| Lead Independent Director | no data | US$182.89k | 0.024% $ 1.5m | |
| Independent Director | 14.08yrs | US$201.60k | 0.028% $ 1.8m | |
| Independent Director | 14.08yrs | US$195.38k | 0.086% $ 5.4m | |
| Director | 1.17yrs | US$242.50k | no data | |
| Independent Director | 4.75yrs | US$182.89k | no data | |
| Independent Director | 5.5yrs | US$199.47k | no data |
14.1yrs
Average Tenure
62yo
Average Age
Experienced Board: DEI's board of directors are seasoned and experienced ( 14.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: DEI insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Douglas Emmett, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Douglas Emmett, Inc.
- Ticker: DEI
- Exchange: NYSE
- Founded: 1971
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$6.333b
- Market Cap: US$5.521b
- Shares outstanding: 204.47m
- Website: https://www.douglasemmett.com
Number of Employees
Location
- Douglas Emmett, Inc.
- 1299 Ocean Avenue
- Suite 1000
- Santa Monica
- California
- 90401
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DEI | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Oct 2006 |
| D8K | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Oct 2006 |
Biography
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 ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/12/01 23:58 |
| End of Day Share Price | 2020/12/01 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.