Intrinsic value of Douglas Emmett - DEI

Previous Close

$38.96

  Intrinsic Value

$9.12

stock screener

  Rating & Target

str. sell

-77%

Previous close

$38.96

 
Intrinsic value

$9.12

 
Up/down potential

-77%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as DEI.

We calculate the intrinsic value of DEI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 6.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.40
  8.96
  8.56
  8.21
  7.89
  7.60
  7.34
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.01
  5.91
  5.82
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
  5.21
Revenue, $m
  888
  968
  1,051
  1,137
  1,227
  1,320
  1,417
  1,517
  1,622
  1,731
  1,844
  1,962
  2,084
  2,212
  2,344
  2,483
  2,627
  2,778
  2,935
  3,099
  3,271
  3,450
  3,638
  3,834
  4,039
  4,254
  4,478
  4,714
  4,960
  5,218
Variable operating expenses, $m
  624
  680
  739
  799
  862
  928
  996
  1,067
  1,140
  1,217
  1,296
  1,379
  1,465
  1,555
  1,648
  1,745
  1,847
  1,953
  2,063
  2,179
  2,299
  2,425
  2,557
  2,695
  2,839
  2,990
  3,148
  3,314
  3,487
  3,669
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  624
  680
  739
  799
  862
  928
  996
  1,067
  1,140
  1,217
  1,296
  1,379
  1,465
  1,555
  1,648
  1,745
  1,847
  1,953
  2,063
  2,179
  2,299
  2,425
  2,557
  2,695
  2,839
  2,990
  3,148
  3,314
  3,487
  3,669
Operating income, $m
  264
  287
  312
  338
  364
  392
  421
  451
  482
  514
  548
  583
  619
  657
  696
  737
  780
  825
  872
  921
  971
  1,025
  1,080
  1,139
  1,200
  1,263
  1,330
  1,400
  1,473
  1,550
EBITDA, $m
  1,134
  1,235
  1,341
  1,451
  1,566
  1,685
  1,808
  1,937
  2,070
  2,209
  2,354
  2,504
  2,660
  2,823
  2,992
  3,169
  3,353
  3,546
  3,746
  3,956
  4,175
  4,404
  4,643
  4,893
  5,155
  5,429
  5,716
  6,017
  6,331
  6,661
Interest expense (income), $m
  138
  74
  75
  76
  77
  78
  79
  80
  81
  82
  83
  84
  86
  87
  88
  89
  91
  92
  94
  95
  97
  99
  101
  103
  105
  107
  109
  111
  113
  116
  119
Earnings before tax, $m
  189
  212
  236
  261
  286
  313
  341
  370
  400
  431
  463
  497
  532
  569
  607
  647
  688
  731
  776
  823
  873
  924
  978
  1,034
  1,093
  1,154
  1,219
  1,286
  1,357
  1,431
Tax expense, $m
  51
  57
  64
  70
  77
  85
  92
  100
  108
  116
  125
  134
  144
  154
  164
  175
  186
  197
  210
  222
  236
  249
  264
  279
  295
  312
  329
  347
  366
  386
Net income, $m
  138
  155
  172
  190
  209
  228
  249
  270
  292
  315
  338
  363
  388
  415
  443
  472
  502
  534
  567
  601
  637
  675
  714
  755
  798
  843
  890
  939
  991
  1,045

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  -907
  -989
  -1,073
  -1,161
  -1,253
  -1,348
  -1,447
  -1,550
  -1,657
  -1,768
  -1,883
  -2,004
  -2,129
  -2,259
  -2,395
  -2,536
  -2,684
  -2,837
  -2,998
  -3,166
  -3,341
  -3,524
  -3,716
  -3,916
  -4,125
  -4,345
  -4,574
  -4,815
  -5,067
  -5,330
Adjusted assets (=assets-cash), $m
  -907
  -989
  -1,073
  -1,161
  -1,253
  -1,348
  -1,447
  -1,550
  -1,657
  -1,768
  -1,883
  -2,004
  -2,129
  -2,259
  -2,395
  -2,536
  -2,684
  -2,837
  -2,998
  -3,166
  -3,341
  -3,524
  -3,716
  -3,916
  -4,125
  -4,345
  -4,574
  -4,815
  -5,067
  -5,330
Revenue / Adjusted assets
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
  -0.979
Average production assets, $m
  8,700
  9,480
  10,292
  11,136
  12,015
  12,928
  13,876
  14,862
  15,887
  16,952
  18,060
  19,212
  20,411
  21,660
  22,961
  24,317
  25,731
  27,207
  28,747
  30,355
  32,035
  33,791
  35,627
  37,547
  39,556
  41,659
  43,860
  46,166
  48,580
  51,110
Working capital, $m
  -4,799
  -5,229
  -5,677
  -6,142
  -6,627
  -7,130
  -7,654
  -8,197
  -8,763
  -9,350
  -9,961
  -10,597
  -11,258
  -11,947
  -12,664
  -13,412
  -14,192
  -15,006
  -15,856
  -16,743
  -17,669
  -18,638
  -19,650
  -20,710
  -21,818
  -22,978
  -24,192
  -25,463
  -26,795
  -28,190
Total debt, $m
  65
  66
  67
  68
  69
  69
  70
  71
  72
  73
  74
  75
  76
  78
  79
  80
  81
  83
  84
  86
  87
  89
  91
  93
  94
  96
  98
  101
  103
  105
Total liabilities, $m
  8
  9
  10
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  20
  22
  23
  24
  26
  27
  28
  30
  32
  33
  35
  37
  39
  41
  43
  46
  48
Total equity, $m
  -916
  -998
  -1,083
  -1,172
  -1,264
  -1,360
  -1,460
  -1,564
  -1,672
  -1,784
  -1,900
  -2,022
  -2,148
  -2,279
  -2,416
  -2,559
  -2,708
  -2,863
  -3,025
  -3,194
  -3,371
  -3,556
  -3,749
  -3,951
  -4,163
  -4,384
  -4,616
  -4,858
  -5,112
  -5,378
Total liabilities and equity, $m
  -908
  -989
  -1,073
  -1,162
  -1,253
  -1,348
  -1,447
  -1,550
  -1,657
  -1,768
  -1,883
  -2,004
  -2,129
  -2,259
  -2,394
  -2,536
  -2,684
  -2,837
  -2,998
  -3,166
  -3,341
  -3,524
  -3,716
  -3,916
  -4,126
  -4,345
  -4,575
  -4,815
  -5,066
  -5,330
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009
  1.009

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  138
  155
  172
  190
  209
  228
  249
  270
  292
  315
  338
  363
  388
  415
  443
  472
  502
  534
  567
  601
  637
  675
  714
  755
  798
  843
  890
  939
  991
  1,045
Depreciation, amort., depletion, $m
  870
  948
  1,029
  1,114
  1,201
  1,293
  1,388
  1,486
  1,589
  1,695
  1,806
  1,921
  2,041
  2,166
  2,296
  2,432
  2,573
  2,721
  2,875
  3,035
  3,203
  3,379
  3,563
  3,755
  3,956
  4,166
  4,386
  4,617
  4,858
  5,111
Funds from operations, $m
  1,008
  1,103
  1,201
  1,304
  1,410
  1,521
  1,636
  1,756
  1,880
  2,010
  2,144
  2,284
  2,430
  2,581
  2,739
  2,904
  3,075
  3,254
  3,441
  3,637
  3,840
  4,054
  4,276
  4,510
  4,753
  5,009
  5,276
  5,556
  5,849
  6,156
Change in working capital, $m
  -412
  -430
  -448
  -466
  -484
  -504
  -523
  -544
  -565
  -587
  -611
  -636
  -662
  -689
  -718
  -748
  -780
  -814
  -849
  -887
  -927
  -969
  -1,013
  -1,059
  -1,108
  -1,160
  -1,214
  -1,271
  -1,332
  -1,395
Cash from operations, $m
  1,421
  1,533
  1,649
  1,770
  1,895
  2,025
  2,160
  2,300
  2,446
  2,597
  2,755
  2,920
  3,091
  3,270
  3,457
  3,652
  3,855
  4,068
  4,291
  4,524
  4,767
  5,022
  5,289
  5,569
  5,862
  6,168
  6,490
  6,827
  7,181
  7,551
Maintenance CAPEX, $m
  -795
  -870
  -948
  -1,029
  -1,114
  -1,201
  -1,293
  -1,388
  -1,486
  -1,589
  -1,695
  -1,806
  -1,921
  -2,041
  -2,166
  -2,296
  -2,432
  -2,573
  -2,721
  -2,875
  -3,035
  -3,203
  -3,379
  -3,563
  -3,755
  -3,956
  -4,166
  -4,386
  -4,617
  -4,858
New CAPEX, $m
  -747
  -780
  -812
  -845
  -878
  -913
  -949
  -986
  -1,025
  -1,065
  -1,108
  -1,152
  -1,199
  -1,249
  -1,301
  -1,356
  -1,414
  -1,475
  -1,540
  -1,608
  -1,680
  -1,756
  -1,836
  -1,920
  -2,009
  -2,103
  -2,201
  -2,305
  -2,415
  -2,530
Cash from investing activities, $m
  -1,542
  -1,650
  -1,760
  -1,874
  -1,992
  -2,114
  -2,242
  -2,374
  -2,511
  -2,654
  -2,803
  -2,958
  -3,120
  -3,290
  -3,467
  -3,652
  -3,846
  -4,048
  -4,261
  -4,483
  -4,715
  -4,959
  -5,215
  -5,483
  -5,764
  -6,059
  -6,367
  -6,691
  -7,032
  -7,388
Free cash flow, $m
  -122
  -117
  -111
  -104
  -97
  -90
  -82
  -74
  -65
  -57
  -48
  -39
  -29
  -20
  -10
  -1
  9
  20
  30
  41
  52
  63
  74
  86
  98
  110
  123
  136
  149
  163
Issuance/(repayment) of debt, $m
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
Issuance/(repurchase) of shares, $m
  -79
  -82
  -85
  -89
  -92
  -96
  -100
  -104
  -108
  -112
  -117
  -121
  -126
  -131
  -137
  -143
  -149
  -155
  -162
  -169
  -177
  -185
  -193
  -202
  -211
  -221
  -232
  -243
  -254
  -266
Cash from financing (excl. dividends), $m  
  -78
  -81
  -84
  -88
  -91
  -95
  -99
  -103
  -107
  -111
  -116
  -120
  -125
  -130
  -136
  -142
  -148
  -154
  -161
  -167
  -175
  -183
  -191
  -200
  -209
  -219
  -230
  -241
  -252
  -264
Total cash flow (excl. dividends), $m
  -200
  -198
  -195
  -192
  -189
  -185
  -181
  -176
  -172
  -168
  -163
  -159
  -155
  -150
  -146
  -142
  -138
  -134
  -131
  -127
  -124
  -120
  -117
  -115
  -112
  -109
  -107
  -105
  -102
  -100
Retained Cash Flow (-), $m
  79
  82
  85
  89
  92
  96
  100
  104
  108
  112
  117
  121
  126
  131
  137
  143
  149
  155
  162
  169
  177
  185
  193
  202
  211
  221
  232
  243
  254
  266
Prev. year cash balance distribution, $m
  837
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  19
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  716
  82
  85
  89
  92
  96
  100
  104
  108
  112
  117
  121
  126
  131
  137
  143
  149
  155
  162
  169
  177
  185
  193
  202
  211
  221
  232
  243
  254
  266
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  678
  73
  71
  69
  66
  63
  60
  57
  53
  49
  45
  40
  36
  32
  28
  25
  21
  18
  15
  12
  10
  8
  6
  4
  3
  2
  2
  1
  1
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Douglas Emmett, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in Los Angeles and Honolulu. The Company operates through two segments: the acquisition, development, ownership and management of office real estate (Office Segment), and the acquisition, development, ownership and management of multifamily real estate (Multifamily Segment). The services for its Office segment include primarily rental of office space and other tenant services, including parking and storage space rental. The services for its Multifamily segment include primarily rental of apartments and other tenant services, including parking and storage space rental. It focuses on owning, acquiring developing and managing a substantial share of office properties and multifamily communities in neighborhoods.

FINANCIAL RATIOS  of  Douglas Emmett (DEI)

Valuation Ratios
P/E Ratio 69.5
Price to Sales 7.9
Price to Book 3.1
Price to Tangible Book
Price to Cash Flow 17.4
Price to Free Cash Flow -4.2
Growth Rates
Sales Growth Rate 16.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 612.7%
Cap. Spend. - 3 Yr. Gr. Rate 51.6%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 227.5%
Total Debt to Equity 227.5%
Interest Coverage 2
Management Effectiveness
Return On Assets 3.3%
Ret/ On Assets - 3 Yr. Avg. 3.1%
Return On Total Capital 1.4%
Ret/ On T. Cap. - 3 Yr. Avg. 1.1%
Return On Equity 4.4%
Return On Equity - 3 Yr. Avg. 3.2%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 68%
Gross Margin - 3 Yr. Avg. 67%
EBITDA Margin 65%
EBITDA Margin - 3 Yr. Avg. 63.8%
Operating Margin 30.8%
Oper. Margin - 3 Yr. Avg. 30.2%
Pre-Tax Margin 12.9%
Pre-Tax Margin - 3 Yr. Avg. 10.9%
Net Profit Margin 11.4%
Net Profit Margin - 3 Yr. Avg. 9.4%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 154.1%

DEI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DEI stock intrinsic value calculation we used $812 million for the last fiscal year's total revenue generated by Douglas Emmett. The default revenue input number comes from 2017 income statement of Douglas Emmett. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DEI stock valuation model: a) initial revenue growth rate of 9.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for DEI is calculated based on our internal credit rating of Douglas Emmett, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Douglas Emmett.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DEI stock the variable cost ratio is equal to 70.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for DEI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 115.2% for Douglas Emmett.

Corporate tax rate of 27% is the nominal tax rate for Douglas Emmett. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DEI stock is equal to 2.3%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DEI are equal to 979.4%.

Life of production assets of 10 years is the average useful life of capital assets used in Douglas Emmett operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DEI is equal to -540.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Douglas Emmett - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 170 million for Douglas Emmett is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Douglas Emmett at the current share price and the inputted number of shares is $6.6 billion.

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COMPANY NEWS

▶ Douglas Emmett Declares Quarterly Cash Dividend   [May-31-18 04:15PM  PR Newswire]
▶ Douglas Emmett: 1Q Earnings Snapshot   [May-08-18 04:56PM  Associated Press]
▶ Douglas Emmett, Inc to Host Earnings Call   [Feb-14-18 10:00AM  ACCESSWIRE]
▶ Douglas Emmett reports 4Q results   [Feb-13-18 06:10PM  Associated Press]
▶ Douglas Emmett Announces 2017 Tax Treatment of Dividends   [Jan-17-18 04:15PM  PR Newswire]
▶ Douglas Emmett Increases Quarterly Cash Dividend by 9%   [Dec-07-17 04:07PM  PR Newswire]
▶ Douglas Emmett, Inc to Host Earnings Call   [Nov-08-17 09:00AM  ACCESSWIRE]
▶ Douglas Emmett reports 3Q results   [Nov-07-17 04:53PM  Associated Press]
▶ Douglas Emmett Declares Quarterly Cash Dividend   [Sep-07-17 05:30PM  PR Newswire]
▶ Douglas Emmett reports 2Q results   [Aug-01-17 11:15PM  Associated Press]
▶ Douglas Emmett Declares Quarterly Cash Dividend   [Jun-01-17 07:26PM  PR Newswire]
▶ Douglas Emmett reports 1Q results   [May-02-17 05:44PM  Associated Press]
▶ Douglas Emmett Declares Quarterly Cash Dividend   [Mar-02-17 05:00PM  PR Newswire]
▶ Douglas Emmett to complete $120M apartment expansion project in 2018   [11:30AM  American City Business Journals]
▶ Douglas Emmett eyes buying Honoulu office tower for residential project   [06:30PM  American City Business Journals]
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