Douglas Emmett (NYSE:DEI) Issues FY24 Earnings Guidance

Douglas Emmett (NYSE:DEI) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.64-$1.70 for the period, compared to the consensus EPS estimate of $1.67.

Douglas Emmett Stock Down 1.1 %

Shares of NYSE:DEI traded down $0.15 during trading hours on Tuesday, hitting $13.75. The company’s stock had a trading volume of 2,096,751 shares, compared to its average volume of 1,850,887. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.91 and a quick ratio of 4.91. The firm’s fifty day moving average price is $13.44 and its 200 day moving average price is $13.37. Douglas Emmett has a 52 week low of $10.09 and a 52 week high of $16.12. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -52.88 and a beta of 1.05.

Douglas Emmett Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.76 annualized dividend and a yield of 5.53%. Douglas Emmett’s dividend payout ratio (DPR) is presently -292.31%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their target price on Douglas Emmett from $17.00 to $15.00 and set a neutral rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $13.67.

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.