Douglas Elliman (DOUG) Declares $0.05 Dividend

Douglas Elliman said on March 13, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.

Shares must be purchased before the ex-div date of March 22, 2023 to qualify for the dividend. Shareholders of record as of March 23, 2023 will receive the payment on March 31, 2023.

At the current share price of $3.13 / share, the stock's dividend yield is 6.39%. Looking back five years and taking a sample every week, the average dividend yield has been 4.00%, the lowest has been 1.84%, and the highest has been 6.23%. The standard deviation of yields is 0.94 (n=45).

The current dividend yield is 2.55 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -2.89. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 95.53% Upside

As of March 14, 2023, the average one-year price target for Douglas Elliman is $6.12. The forecasts range from a low of $6.06 to a high of $6.30. The average price target represents an increase of 95.53% from its latest reported closing price of $3.13.

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The projected annual revenue for Douglas Elliman is $1,218MM, an increase of 5.62%. The projected annual non-GAAP EPS is $0.10.

What is the Fund Sentiment?

There are 406 funds or institutions reporting positions in Douglas Elliman. This is an increase of 3 owner(s) or 0.74% in the last quarter. Average portfolio weight of all funds dedicated to DOUG is 0.04%, an increase of 24.32%. Total shares owned by institutions increased in the last three months by 4.96% to 61,257K shares. The put/call ratio of DOUG is 0.22, indicating a bullish outlook.

What are Large Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 5,067K shares representing 6.24% ownership of the company. In it's prior filing, the firm reported owning 4,961K shares, representing an increase of 2.08%. The firm decreased its portfolio allocation in DOUG by 7.77% over the last quarter.

Capital Research Global Investors holds 4,016K shares representing 4.94% ownership of the company. In it's prior filing, the firm reported owning 4,800K shares, representing a decrease of 19.52%. The firm decreased its portfolio allocation in DOUG by 23.60% over the last quarter.

SMCWX - SMALLCAP WORLD FUND INC holds 4,016K shares representing 4.94% ownership of the company. In it's prior filing, the firm reported owning 1,832K shares, representing an increase of 54.38%. The firm increased its portfolio allocation in DOUG by 103.37% over the last quarter.

Renaissance Technologies holds 3,402K shares representing 4.19% ownership of the company. In it's prior filing, the firm reported owning 3,457K shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in DOUG by 5.51% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 3,314K shares representing 4.08% ownership of the company. In it's prior filing, the firm reported owning 3,215K shares, representing an increase of 2.97%. The firm decreased its portfolio allocation in DOUG by 4.43% over the last quarter.

Douglas Elliman Background Information
(This description is provided by the company.)

Douglas Elliman Inc. is one of the largest residential brokerage companies in the New York metropolitan area, which includes New York City, Long Island, Westchester, Connecticut, New Jersey and the Hamptons, and the sixth largest in the U.S., with substantial businesses in California, Colorado, Texas, Florida and Massachusetts. In addition, Douglas Elliman sources, uses and invests in early-stage, disruptive property technology ("PropTech") solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets.

This story originally appeared on Fintel.