Douglas Emmett (NYSE:DEI) Announces Earnings Results

Douglas Emmett (NYSE:DEI - Get Free Report) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.38), Zacks reports. The firm had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.45 EPS. Douglas Emmett updated its FY24 guidance to $1.69-1.73 EPS and its FY 2024 guidance to 1.690-1.730 EPS.

Douglas Emmett Stock Up 2.6 %

Shares of DEI stock traded up $0.48 during trading on Tuesday, reaching $18.48. The company's stock had a trading volume of 2,885,799 shares, compared to its average volume of 1,652,185. Douglas Emmett has a 1-year low of $10.76 and a 1-year high of $19.27. The stock's 50-day moving average price is $17.35 and its 200 day moving average price is $15.29. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.11 and a quick ratio of 5.11. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -87.98 and a beta of 1.10.

Douglas Emmett Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 4.11%. Douglas Emmett's dividend payout ratio is presently -361.90%.

Analyst Ratings Changes

DEI has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, August 12th. Scotiabank raised their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. Wells Fargo & Company increased their target price on shares of Douglas Emmett from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th. Finally, Citigroup lifted their target price on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Douglas Emmett currently has an average rating of "Hold" and an average target price of $16.29.

Douglas Emmett Company Profile

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.