Douglas Emmett Announces $300 Million Share Repurchase Authorization

Rhea-AI Summary

Douglas Emmett, Inc. (NYSE: DEI) has authorized a new share repurchase program allowing up to $300 million of its common shares to be repurchased. This initiative aims to enhance shareholder value and may be executed at management's discretion based on market conditions, stock prices, and alternative capital uses. The company retains the right to suspend or terminate the buyback program at any time. Douglas Emmett focuses on high-quality office and multifamily properties in Los Angeles and Honolulu.

Positive

• Share repurchase program of up to $300 million authorized to boost shareholder value.

Negative

• None.

SANTA MONICA, Calif.--(BUSINESS WIRE)-- Douglas Emmett, Inc. (NYSE: DEI), a real estate investment trust (REIT), announced today that its Board of Directors has authorized the repurchase of up to $300 million of its outstanding common shares under a newly established share repurchase program.

Purchases may be made from time to time in the open market, through privately negotiated transactions or through other means as permitted by federal securities laws, including through the use of trading plans intended to qualify under Rule 10b5-1. The timing, manner, price and amount of any repurchases will be determined in the discretion of company’s management depending on business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, alternative uses for capital and other considerations. The program may be suspended or discontinued at any time and does not obligate the company to make any purchases of its stock.

About Douglas Emmett, Inc.

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. For more information about Douglas Emmett, please visit our website at www.douglasemmett.com.

Safe Harbor Statement

Except for the historical facts, the statements in this press release regarding Douglas Emmett’s business activities are forward-looking statements based on the beliefs of, assumptions made by, and information currently available to us about known and unknown risks, trends, uncertainties and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on forward-looking statements to anticipate future results or trends. For a discussion of some of the risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in our Annual Report on Form 10-K for 2021, filed with the U.S. Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208006050/en/

Stuart McElhinney, Vice President – Investor Relations

310.255.7751 smcelhinney@douglasemmett.com

Source: Douglas Emmett, Inc.

FAQ

What is the purpose of the share repurchase program by DEI?

The share repurchase program aims to enhance shareholder value by reducing the number of outstanding shares.

How much is Douglas Emmett, Inc. authorized to repurchase under its new program?

Douglas Emmett, Inc. is authorized to repurchase up to $300 million of its outstanding common shares.

When can DEI execute its share repurchase program?

The repurchase may occur in the open market, through negotiated transactions, or as permitted by federal securities laws, with timing and amount at management's discretion.

Can the share repurchase program be stopped or changed by DEI?

Yes, the program may be suspended or discontinued at any time by Douglas Emmett, Inc.