Douglas Emmett (DEI) will raise its quarterly dividend by 7.7 percent to $0.28 per share in the fourth quarter of 2019. This comes after a 4.0 percent dividend hike by the REIT last year.

The next dividend will be paid on January 15, 2020 to shareholders of record as of December 31, 2019. A new annualized dividend rate of $1.12 per share for the real estate investment trust yields 2.5% at a stock price of $44.62.

Douglas Emmett, Inc. (DEI) is real estate investment trust (REIT). The company is one of the largest owners and operators of office and multifamily properties located in the 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.