Douglas Elliman Hits New York Stock Exchange As Independent Company - 27 East

Real Estate News

Real Estate News / 1861304

Douglas Elliman Hits New York Stock Exchange As Independent Company

authorStaff Writer on Jan 10, 2022

Douglas Elliman’s got a brand new bag — or, rather, a new ticker symbol.

Last month, the company completed its spin-off from Vector Group Ltd. and, on December 30, began trading on the New York Stock Exchange under the symbol “DOUG” as an independent company. It has also been added to the S&P SmallCap 600.

“Today marks an exciting new chapter for Douglas Elliman,” Howard M. Lorber, chairman and chief executive officer of Douglas Elliman, said in a statement. “As a standalone company, Douglas Elliman will leverage its differentiated approach, portfolio of innovative technology services and a best-in-class team of employees and agents to capitalize on growth opportunities in the highly attractive U.S. residential real estate market. We believe there is a bright future ahead for our company as a standalone entity.”

Douglas Elliman Inc. is primarily known for its residential brokerage company, Douglas Elliman Realty — one of the largest in the New York metropolitan area, not to mention the sixth largest in the United States. It has an “established and growing presence in most luxury markets,” according to a press release, including international finance and technology hubs that are “densely populated and offer housing inventory at premium pricing points.”

The company’s financial profile includes a balance sheet with $200 million of net cash and “significant operating leverage,” the release said, “supported by a track record of impressive revenue growth, disciplined expense management led by seasoned industry executives, healthy margins and limited capital expenditures.”

“We are thrilled that Douglas Elliman has reached this milestone — one that would not be possible without the hard work and dedication of our incredible agents and employees,” Scott Durkin, chief executive officer of Douglas Elliman Realty, said in a statement. “As a standalone company, we look forward to building on Douglas Elliman’s leading luxury brand and longstanding tradition of excellence, while continuing to drive long-term value for stockholders.”

You May Also Like:

Quail Ridge Residents Scramble After Apartments Are Purchased for Redevelopment | 27Speaks Podcast

The tenants of Quail Ridge — the two dozen studio and one-bedroom apartments spread over ... 3 Jul 2025 by 27Speaks

Water Mill Property Where Hal Buckner and Dorothy Lichtenstein Left Their Marks Is for Sale

A Water Mill property that hosts a former dairy barn turned artist’s studio and a ... 30 Jun 2025 by Brendan J. O’Reilly

Sundays on the Bay Hits the Market

Sundays on the Bay restaurant and marina on Dune Road in Hampton Bays has hit ... 29 Jun 2025 by Staff Writer

Hamptons Rental Market Remains Alive and Well

To paraphrase Mark Twain, reports of the demise of the Hamptons summer-rental market are greatly exaggerated. “Any hint that the Hamptons rental market is anything but robust is completely wrong,” said Corcoran associate broker Gary DePersia in East Hampton. An interesting dynamic is stirring in the Hamptons vacation-rental market. Although there has been an unprecedented rise in short-term rentals and the aftershocks of the COVID-19 pandemic linger, it has been a bumper crop year for Wall Street, interest rates have remained steady and a new breed of demanding customer is emerging. Despite it all, the Hamptons vacation-rental market remains as ... 19 Jun 2025 by Joseph Finora

Jon Vaccari Joins Noble Black & Partners at Douglas Elliman

Jon Vaccari, a longtime resident of Sag Harbor, has joined Noble Black & Partners at ... 18 Jun 2025 by Staff Writer

Appeals Court Sides With Landowner Over Southampton Village ZBA

Southampton Village has lost an appeal that sought to reinstate a Zoning Board of Appeals ... 12 Jun 2025 by Brendan J. O’Reilly

Last Parcel of Startop Ranch in Montauk Sells

The last plot of land at Startop Ranch in Montauk, 107 Startop Drive, has sold ... by Staff Writer

Hamptons Real Estate Roundtable, Memorial Day Weekend 2025 Edition

With Memorial Day weekend about to kick the Hamptons into high season, The Express News ... 22 May 2025 by Moderated by Brendan J. O’Reilly

Au-Delà Real Estate Vows To Go 'Beyond'

Au-Delà Real Estate, a new boutique real estate firm based in East Hampton, is now ... 20 May 2025 by Brendan J. O’Reilly

AI Helps Rental Seekers Find Homes That Match Their Aesthetic Preferences

Consumers increasingly have an expectation of superior, more personalized service based on their own particular ... by Steven Loeb