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

Douglas Emmett (NYSE:DEI) 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.

Analysts Set New Price Targets

DEI has been the subject of a number of research analyst reports. 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 report on Wednesday, August 28th. Piper Sandler increased their price objective on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Wells Fargo & Company boosted their price target on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on 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 price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, September 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.29.

Douglas Emmett Price Performance

Shares of Douglas Emmett stock traded down $0.09 during trading on Wednesday, hitting $18.39. 1,089,106 shares of the company were exchanged, compared to its average volume of 1,649,565. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -87.98 and a beta of 1.10. The firm has a 50 day moving average price of $17.35 and a 200 day moving average price of $15.29. Douglas Emmett has a fifty-two week low of $10.76 and a fifty-two week high of $19.46. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 1.47.

Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.38). The company had revenue of $250.75 million during the quarter, compared to analyst estimates of $242.75 million. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. On average, equities analysts expect that Douglas Emmett will post 1.68 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 4.13%. Douglas Emmett’s dividend payout ratio (DPR) is presently -361.90%.

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.