Douglas Emmett (NYSE:DEI) Releases Earnings Results, Misses Estimates By $0.38 EPS

Douglas Emmett (NYSE:DEI) released its quarterly earnings results on Monday. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.38), Zacks reports. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The company had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. During the same period last year, the company earned $0.45 earnings per share. Douglas Emmett’s revenue for the quarter was down 1.8% compared to the same quarter last year. 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 Trading Up 0.7 %

DEI traded up $0.13 during mid-day trading on Wednesday, hitting $18.62. The stock had a trading volume of 2,860,375 shares, compared to its average volume of 1,657,804. The stock’s fifty day simple moving average is $17.35 and its 200-day simple moving average is $15.29. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -87.05 and a beta of 1.10. Douglas Emmett has a 1-year low of $10.76 and a 1-year high of $19.50. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.11 and a quick ratio of 5.11.

Douglas Emmett Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.08%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s payout ratio is presently -361.90%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DEI. Scotiabank increased their price objective on Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company boosted their price objective on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. raised their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Evercore ISI boosted their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler raised their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.29.

About Douglas Emmett

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.