Douglas Emmett
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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
1 Year Returns
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.
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Douglas Emmett.
| 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.
| 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.
| 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 | ||
| 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 |
| 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 |
| 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.
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?
| 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.
| 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?
| 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 .
| 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?
| 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 |
| 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.
Value checks
We assess Douglas Emmett's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess Douglas Emmett's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Douglas Emmett Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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).
Past performance checks
We assess Douglas Emmett's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Douglas Emmett Company Filings, last reported 1 month ago.
| 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).
Financial health checks
We assess Douglas Emmett's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Douglas Emmett has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
$2,000 of
Douglas Emmett
shares you are expected to receive
$50
in your first year as a dividend.
Dividend Amount
- 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.
| 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.
| 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 |
| 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).
- Dividends after 3 years are expected to be thoroughly covered by earnings (398.4x coverage).
Income/ dividend checks
We assess Douglas Emmett's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- 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
Executive Chairman
$253K
78
Jordan Kaplan
President
$9M
57
14.3 yrs
Ken Panzer
COO & Director
$9M
58
12.6 yrs
Kevin Crummy
Chief Investment Officer
$2M
52
5.3 yrs
Mona Gisler
Chief Accounting Officer
$617K
44
Peter Seymour
Chief Financial Officer
50
0.3 yrs
Stuart McElhinney
Vice President of Investor Relations
Michael Means
Senior Vice President of Commercial Leasing
57
Allan Golad
Senior Vice President of Property Management
63
12.6 yrs
Ted Guth
Senior Advisor
$2M
63
Board of Directors Tenure
Average tenure and age of the Douglas Emmett board of directors in years:
- 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
President
$9M
57
14.3 yrs
Ken Panzer
COO & Director
$9M
58
12.6 yrs
Tom O'Hern
Director
$202K
62
12.6 yrs
Dan Emmett
Executive Chairman
$253K
78
14.3 yrs
Les Bider
Director
$195K
67
12.6 yrs
William Simon
Lead Independent Director
$162K
67
David Feinberg
Director
$183K
56
3.3 yrs
Chris Anderson
Director
$183K
75
7.5 yrs
Virginia McFerran
Director
$183K
54
4 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | 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 | ||
Management checks
We assess Douglas Emmett's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleWhy 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 - – Full articleBased 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 - – Full articleIs 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 - – Full articleWhat 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 - – Full articleHow 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 - – Full articleHave 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 - – Full articleOne 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 - – Full articleIs 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 - – Full articleIs 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 - – Full articleDEI 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
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.
