Douglas Emmett, Inc. DEI

Competitive advantage analysis · real-estate

REIT Specialized
Overall moat score
56/100
Moderate

Ranked against 30 peers in REIT - Office

About Douglas Emmett, Inc.

Douglas Emmett, Inc. is a fully integrated, self-administered and self-managed real estate investment trust , 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 … Full DEI analysis →

Key strengths

  • Strong NOI Margins NOI margins are strong (score 0.71), demonstrating rent pricing power.
  • Accretive Growth Track Record Growth appears accretive (score 0.64), suggesting disciplined capital allocation.

Key risks

  • Elevated Leverage Risk Leverage is elevated (score 0.29), raising refinancing risk.
  • Volatile Occupancy/NOI NOI volatility is high (stability 0.46), raising occupancy concerns.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Rent Pricing Power

Moderate
61
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Signals, strengths and risks for Rent Pricing Power

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Signals, strengths and risks for AFFO Strength

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Signals, strengths and risks for Balance Sheet & Cost of Capital

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Signals, strengths and risks for Capital Recycling & Growth

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Signals, strengths and risks for Operational Efficiency

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Signals, strengths and risks for Portfolio Quality & Diversification

Where DEI ranks in REIT - Office

Douglas Emmett, Inc. ranks #12 of 27 scored companies in REIT - Office by moat score — the top 44%. The widest moat in the group is Easterly Government Properties, (DEA) at 78/100.

# Company Moat score Rating
8 Empire State Realty OP, L.P. Se FISK 59/100 Moderate
9 Empire State Realty OP, L.P. Se OGCP 59/100 Moderate
10 Empire State Realty OP, L.P. Se ESBA 58/100 Moderate
11 Net Lease Office Properties NLOP 57/100 Moderate
12 Douglas Emmett, Inc. DEI 56/100 Moderate
13 Postal Realty Trust, Inc. PSTL 55/100 Moderate
14 Equity EQC 55/100 Moderate
15 Alexandria Real Estate Equities ARE 51/100 Moderate
16 Piedmont Office Realty Trust, I PDM 49/100 Developing

See every Real Estate Investment Trusts company ranked by moat score →

How DEI scores on the REIT Specialized defenses

Rent Pricing Power

Score 61 · 20% of the moat score

For a REIT, pricing power is the ability to raise rents at renewal and still keep the space occupied.

AFFO Strength

Score 45 · 18% of the moat score

AFFO — adjusted funds from operations — is the cash a REIT can actually distribute after the recurring capital spending buildings need in order to stay leasable.

Balance Sheet & Cost of Capital

Score 41 · 20% of the moat score

Real estate is bought with borrowed money, so a REIT's cost of capital is its competitive advantage.

Capital Recycling & Growth

Score 73 · 16% of the moat score

REITs grow by issuing shares and debt to buy more property, which creates value only when the yield on the asset exceeds the cost of the capital raised.

Operational Efficiency

Score 62 · 14% of the moat score

Running property — leasing, maintenance, taxes, management — is the part of the business a REIT genuinely controls.

Portfolio Quality & Diversification

Score 55 · 12% of the moat score

Portfolio quality is really a question about what happens when a tenant fails.

How each REIT Specialized defense is measured, in full →

Understanding DEI's moat

What is Douglas Emmett, Inc.'s moat score?

Douglas Emmett, Inc. (DEI) scores 56 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #12 of 27 scored companies in REIT - Office, the top 44%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 30 companies in REIT - Office. Its strongest defense is Capital Recycling & Growth (73/100) and its weakest is Balance Sheet & Cost of Capital (41/100).

How does Douglas Emmett, Inc. compare with other REIT - Office companies?

Douglas Emmett, Inc. ranks #12 of 27 scored companies in REIT - Office by moat score. The widest moat in REIT - Office is Easterly Government Properties, (DEA) at 78/100. The companies ranked closest are Net Lease Office Properties (NLOP) at 57 just above it and Postal Realty Trust, Inc. (PSTL) at 55 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — REIT Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 30 companies in REIT - Office. The defenses are then weighted to produce the overall score out of 100.

Why is Douglas Emmett, Inc. scored with the REIT Specialized template?

A REIT is a portfolio of buildings financed with debt and required to distribute most of its taxable income. Reported earnings are dominated by depreciation on assets that often appreciate, so net income says very little; the real question is how much cash the properties distribute, and how securely. The REIT template scores what determines that: rent pricing, distributable cash, cost of capital, and the discipline behind growth.

Which competitive defenses are measured for Douglas Emmett, Inc.?

The REIT Specialized template measures 6 defenses, and DEI scores: Rent Pricing Power (61), AFFO Strength (45), Balance Sheet & Cost of Capital (41), Capital Recycling & Growth (73), Operational Efficiency (62), Portfolio Quality & Diversification (55). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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