Douglas Emmett (NYSE:DEI) Posts Quarterly 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. The firm had revenue of $250.75 million for the quarter, compared to analysts’ expectations of $242.75 million. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company 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 Up 2.6 %

Shares of DEI stock opened at $18.48 on Wednesday. Douglas Emmett has a twelve month low of $10.76 and a twelve month high of $19.27. The stock has a market cap of $3.09 billion, a P/E ratio of -87.98 and a beta of 1.10. The stock has a 50 day moving average of $17.35 and a 200 day moving average of $15.29. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 1.47.

Douglas Emmett Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 4.11%. Douglas Emmett’s payout ratio is -361.90%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup raised their price objective on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Evercore ISI boosted their price target on Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Scotiabank increased their price objective on shares of 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 target price on shares of Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Douglas Emmett has an average rating of “Hold” and a consensus 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.