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 limited growth.


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

2.9%

NYSE:DEI

1.6%

US REITs

2.9%

US Market


1 Year Return

8.8%

NYSE:DEI

9.9%

US REITs

0.2%

US Market

DEI matched the REITs industry (9.1%) over the past year.

DEI outperformed the Market in United States of America which returned -0.7% over the past year.


Share holder returns

DEIIndustryMarket
7 Day2.9%1.6%2.9%
30 Day5.6%3.8%-2.3%
90 Day2.9%3.3%3.1%
1 Year11.8%8.8%14.9%9.9%2.4%0.2%
3 Year23.4%14.2%25.0%8.7%41.7%32.4%
5 Year69.5%48.0%59.2%25.3%55.1%37.9%

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 based on future cash flows and its price relative to the stock market?

3%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Douglas Emmett's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Douglas Emmett's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

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

Douglas Emmett is poor value based on expected growth next year.


Price Based on Value of Assets

Douglas Emmett is overvalued based on assets compared to the US REITs industry average.


Next Steps

Future Growth

How is Douglas Emmett expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

14.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Douglas Emmett's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).

Douglas Emmett's earnings are expected to grow by 14.8% yearly, however this is not considered high growth (20% yearly).

Douglas Emmett's revenue growth is positive but not above the United States of America market average.

Douglas Emmett's earnings growth is expected to exceed the United States of America market average.

Douglas Emmett's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Douglas Emmett is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


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

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 (3.5% vs 22%)

Douglas Emmett's earnings growth has not exceeded the US REITs industry average in the past year (3.5% vs 16.9%).


Return on Equity

Douglas Emmett has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Douglas Emmett used its assets less efficiently than the US REITs industry average last year based on Return on Assets.


Return on Capital Employed

Douglas Emmett has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Douglas Emmett's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

Douglas Emmett's level of debt (107.5%) 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 (140.3% vs 107.5% today).

Debt is not well covered by operating cash flow (10.2%, 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).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.1x debt.


Next Steps

Dividend

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

2.60%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Douglas Emmett's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

Douglas Emmett's dividend is below the markets top 25% of dividend payers in United States of America (3.85%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

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 (409.8x coverage).


Next Steps

Management

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

12.8yrs

Average management tenure


CEO

Jordan Kaplan (58yo)

14.6yrs

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

Jordan's remuneration is about average for companies of similar size in United States of America.

Jordan's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

12.8yrs

Average Tenure

58yo

Average Age

The average tenure for the Douglas Emmett management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

12.8yrs

Average Tenure

63yo

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.


Insider Trading

No 3 month open market individual insider trading information.


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: 0.0yrs
    • Compensation: US$1.62m
  • Dan Emmett (79yo)

    Executive Chairman

    • Tenure: 14.6yrs
    • Compensation: US$253.00k
  • Peter Seymour (51yo)

    Chief Financial Officer

    • Tenure: 0.5yrs
  • Ken Panzer (59yo)

    COO & Director

    • Tenure: 12.8yrs
    • Compensation: US$8.73m
  • Michael Means (58yo)

    Senior Vice President of Commercial Leasing

    • Tenure: 0.0yrs
  • Jordan Kaplan (58yo)

    President

    • Tenure: 14.6yrs
    • Compensation: US$8.74m
  • Allan Golad (64yo)

    Senior Vice President of Property Management

    • Tenure: 12.8yrs
  • Kevin Crummy (53yo)

    Chief Investment Officer

    • Tenure: 5.6yrs
    • Compensation: US$1.94m
  • Stuart McElhinney

    Vice President of Investor Relations

    • Tenure: 0.0yrs
  • Mona Gisler (45yo)

    Chief Accounting Officer

    • Tenure: 0.0yrs
    • Compensation: US$617.33k

Board Members

  • Chris Anderson (76yo)

    Director

    • Tenure: 7.8yrs
    • Compensation: US$182.89k
  • William Simon (68yo)

    Lead Independent Director

    • Tenure: 0.0yrs
    • Compensation: US$195.35k
  • Tom O'Hern (63yo)

    Director

    • Tenure: 12.8yrs
    • Compensation: US$201.60k
  • Les Bider (68yo)

    Director

    • Tenure: 12.8yrs
    • Compensation: US$195.35k
  • Dan Emmett (79yo)

    Executive Chairman

    • Tenure: 14.6yrs
    • Compensation: US$253.00k
  • Ken Panzer (59yo)

    COO & Director

    • Tenure: 12.8yrs
    • Compensation: US$8.73m
  • Jordan Kaplan (58yo)

    President

    • Tenure: 14.6yrs
    • Compensation: US$8.74m
  • David Feinberg (57yo)

    Director

    • Tenure: 3.5yrs
    • Compensation: US$182.89k
  • Virginia McFerran (55yo)

    Director

    • Tenure: 4.3yrs
    • 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$8.543b
  • Market Cap: US$7.357b
  • 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 Analysis2019/08/21 23:59
End of Day Share Price2019/08/21 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.