Douglas Emmett (NYSE:DEI) Issues Quarterly Earnings Results

Douglas Emmett (NYSE:DEI) issued its 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 company had revenue of $250.75 million for the quarter, compared to analysts’ expectations of $242.75 million. Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. 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 Performance

Shares of DEI stock traded up $0.62 on Tuesday, hitting $18.62. The company had a trading volume of 1,071,053 shares, compared to its average volume of 1,643,704. Douglas Emmett has a twelve month low of $10.76 and a twelve month high of $19.27. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 1.47. The firm has a market cap of $3.12 billion, a P/E ratio of -85.71 and a beta of 1.10. The company has a 50-day moving average price of $17.30 and a 200-day moving average price of $15.26.

Douglas Emmett Dividend Announcement

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

Wall Street Analyst Weigh In

DEI has been the subject of several research reports. Scotiabank upped their price target 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. Evercore ISI raised their price objective 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. Piper Sandler increased their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Citigroup lifted their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.