NYSE:DEI

Stock Analysis Report

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.

Snowflake

Fundamentals

Average dividend payer with questionable 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


Market Performance


7 Day Return

0.2%

DEI

-0.3%

US REITs

1.8%

US Market


1 Year Return

15.2%

DEI

19.5%

US REITs

7.3%

US Market

Return vs Industry: DEI underperformed the US REITs industry which returned 19.5% over the past year.

Return vs Market: DEI exceeded the US Market which returned 7.3% over the past year.


Shareholder returns

DEIIndustryMarket
7 Day0.2%-0.3%1.8%
30 Day0.9%0.9%-0.7%
90 Day4.5%7.0%0.06%
1 Year18.4%15.2%24.9%19.5%9.7%7.3%
3 Year25.3%15.9%34.5%17.4%46.3%36.9%
5 Year76.0%53.9%63.3%28.9%64.5%46.5%

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

Valuation

Is Douglas Emmett undervalued compared to its fair value and its price relative to the market?

61.11x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: DEI ($42.37) is trading above our estimate of fair value ($40.15)

Significantly Undervalued: DEI is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DEI is poor value based on its PE Ratio (61.1x) compared to the REITs industry average (36.2x).

PE vs Market: DEI is poor value based on its PE Ratio (61.1x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: DEI is poor value based on its PEG Ratio (4.4x)


Price to Book Ratio

PB vs Industry: DEI is overvalued based on its PB Ratio (3x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

How is Douglas Emmett forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

13.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DEI's forecast earnings growth (13.9% per year) is above the savings rate (2.7%).

Earnings vs Market: DEI's earnings (13.9% per year) are forecast to grow slower than the US market (14.6% per year).

High Growth Earnings: DEI's earnings are forecast to grow, but not significantly.

Revenue vs Market: DEI's revenue (3.4% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: DEI's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: DEI's Return on Equity is forecast to be low in 3 years time (7%).


Next Steps

Past Performance

How has Douglas Emmett performed over the past 5 years?

22.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: DEI's earnings have grown significantly by 22% per year over the past 5 years.

Accelerating Growth: DEI's earnings growth over the past year (3.5%) is below its 5-year average (22% per year).

Earnings vs Industry: DEI earnings growth over the past year (3.5%) underperformed the REITs industry 17.6%.


Return on Equity

High ROE: DEI's Return on Equity (3.2%) is considered low.


Return on Assets

ROA vs Industry: DEI's Return on Assets is below or equal to the REITs industry average last year.


Return on Capital Employed

ROCE Improving: DEI has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Douglas Emmett's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: DEI has a high level of physical assets or inventory.

Debt Coverage by Assets: DEI's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: DEI's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if DEI has a sufficient allowance for bad loans.

Low Risk Liabilities: DEI reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if DEI has an acceptable proportion of non-loan assets held.

Low Risk Deposits: DEI has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if DEI has an appropriate level of bad loans.


Next Steps

Dividend

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

2.45%

Current Dividend Yield


Dividend Yield vs Market

company2.5%marketbottom25%1.5%markettop25%3.7%industryaverage3.6%forecastin3Years2.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: DEI's dividend (2.45%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: DEI's dividend (2.45%) is low compared to the top 25% of dividend payers in the US market (3.72%).

Stable Dividend: DEI's dividend payments have been volatile 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 (41.9%), 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 thoroughly covered by earnings (0.2% payout ratio).


Next Steps

Management

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

13.0yrs

Average management tenure


CEO

Jordan Kaplan (58yo)

14.8yrs

Tenure

US$8,738,314

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 ($USD8.74M) is about average for companies of similar size in the US market ($USD6.79M).

Compensation vs Earnings: Jordan's compensation has been consistent with company performance over the past year.


Management Age and Tenure

13.0yrs

Average Tenure

58yo

Average Age

Experienced Management: DEI's management team is seasoned and experienced (13 years average tenure).


Board Age and Tenure

13.0yrs

Average Tenure

61yo

Average Age

Experienced Board: DEI's board of directors are seasoned and experienced ( 13 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$1,631,26809 May 19
Dan Emmett
EntityIndividual
Role
Chairman of the Board
Executive Chairman
Shares40,000
Max PriceUS$40.78
BuyUS$297,29621 Dec 18
William Simon
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares8,700
Max PriceUS$34.17

Ownership Breakdown


Management Team

  • Ted Guth (64yo)

    Senior Advisor

    • Tenure: 0yrs
    • Compensation: US$1.62m
  • Dan Emmett (79yo)

    Executive Chairman

    • Tenure: 14.8yrs
    • Compensation: US$253.00k
  • Peter Seymour (51yo)

    Chief Financial Officer

    • Tenure: 0.7yrs
  • Ken Panzer (59yo)

    COO & Director

    • Tenure: 13yrs
    • Compensation: US$8.73m
  • Michael Means (58yo)

    Senior Vice President of Commercial Leasing

    • Tenure: 0yrs
  • Jordan Kaplan (58yo)

    President

    • Tenure: 14.8yrs
    • Compensation: US$8.74m
  • Allan Golad (64yo)

    Senior Vice President of Property Management

    • Tenure: 13yrs
  • Kevin Crummy (53yo)

    Chief Investment Officer

    • Tenure: 5.8yrs
    • Compensation: US$1.94m
  • Stuart McElhinney

    Vice President of Investor Relations

    • Tenure: 0yrs
  • Mona Gisler (45yo)

    Chief Accounting Officer

    • Tenure: 0yrs
    • Compensation: US$617.33k

Board Members

  • Chris Anderson (76yo)

    Independent Director

    • Tenure: 7.9yrs
    • Compensation: US$182.89k
  • William Simon (68yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: US$195.35k
  • Tom O'Hern (63yo)

    Independent Director

    • Tenure: 13yrs
    • Compensation: US$201.60k
  • Les Bider (68yo)

    Independent Director

    • Tenure: 13yrs
    • Compensation: US$195.35k
  • Dan Emmett (79yo)

    Executive Chairman

    • Tenure: 14.8yrs
    • Compensation: US$253.00k
  • Ken Panzer (59yo)

    COO & Director

    • Tenure: 13yrs
    • Compensation: US$8.73m
  • Jordan Kaplan (58yo)

    President

    • Tenure: 14.8yrs
    • Compensation: US$8.74m
  • Johnese Spisso (58yo)

    Director

    • Tenure: 0.08yrs
  • David Feinberg (57yo)

    Independent Director

    • Tenure: 3.7yrs
    • Compensation: US$182.89k
  • Virginia McFerran (55yo)

    Independent Director

    • Tenure: 4.4yrs
    • Compensation: US$182.89k

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$8.573b
  • Market Cap: US$7.425b
  • Shares outstanding: 203.35m
  • Website: https://www.douglasemmett.com

Number of Employees


Location

  • Douglas Emmett, Inc.
  • 1299 Ocean Avenue
  • Suite 1000
  • Santa Monica
  • California
  • 90401
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DEINYSE (New York Stock Exchange)YesCommon SharesUSUSDOct 2006
D8KDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 23:53
End of Day Share Price2019/10/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.