Douglas Emmett (NYSE:DEI) Updates FY24 Earnings Guidance

Douglas Emmett (NYSE:DEI) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $1.69-1.73 for the period, compared to the consensus earnings per share estimate of $1.67. Douglas Emmett also updated its FY 2024 guidance to 1.690-1.730 EPS.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DEI shares. Scotiabank boosted their target price on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Piper Sandler lifted their target price on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. raised their price target on Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Citigroup upped their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Wells Fargo & Company raised their price objective 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. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.71.

Douglas Emmett Stock Up 2.1 %

Shares of NYSE DEI traded up $0.40 during trading on Thursday, hitting $19.04. The company had a trading volume of 368,947 shares, compared to its average volume of 1,651,728. 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 business’s 50-day moving average is $17.40 and its 200 day moving average is $15.32. Douglas Emmett has a 52 week low of $10.76 and a 52 week high of $19.50.

Douglas Emmett (NYSE:DEI) last issued 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). Douglas Emmett had a negative return on equity of 0.42% and a negative net margin of 1.68%. The company had revenue of $250.75 million during the quarter, compared to analysts’ expectations of $242.75 million. During the same period in the prior year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts forecast that Douglas Emmett will post 1.68 EPS for the current year.

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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Monday, September 30th. Douglas Emmett’s dividend payout ratio (DPR) is currently -760.00%.

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.