Douglas Emmett (NYSE:DEI) Updates FY 2024 Earnings Guidance

Douglas Emmett (NYSE:DEI - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 1.690-1.730 for the period, compared to the consensus estimate of 1.670. The company issued revenue guidance of -. Douglas Emmett also updated its FY24 guidance to $1.69-1.73 EPS.

Douglas Emmett Stock Up 2.7 %

Shares of NYSE:DEI traded up $0.48 during midday trading on Monday, reaching $18.00. The company had a trading volume of 1,681,210 shares, compared to its average volume of 1,646,388. Douglas Emmett has a one year low of $10.76 and a one year high of $19.27. 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 stock has a market capitalization of $3.01 billion, a P/E ratio of -83.43 and a beta of 1.10. The stock's fifty day moving average price is $17.26 and its 200-day moving average price is $15.22.

Douglas Emmett (NYSE:DEI - Get Free Report) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.37). The firm had revenue of $245.80 million during the quarter, compared to analysts' expectations of $246.62 million. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 EPS. Equities research analysts expect that Douglas Emmett will post 1.68 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Monday, September 30th. Douglas Emmett's dividend payout ratio (DPR) is presently -361.90%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DEI shares. JPMorgan Chase & Co. lifted their target price on Douglas Emmett from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Scotiabank lifted their target price on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Monday, August 26th. Piper Sandler upped their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. Evercore ISI increased their target price on Douglas Emmett from $15.00 to $16.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company lifted their target price on Douglas Emmett from $15.00 to $17.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 11th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.

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