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.

Analysts Set New Price Targets

DEI has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Wells Fargo & Company lifted their price target on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Scotiabank increased their price objective on Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Citigroup boosted their target price 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, Evercore ISI upped their price target on Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Seven investment 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 an average price target of $16.29.

Douglas Emmett Trading Up 3.7 %

Shares of NYSE:DEI traded up $0.66 during midday trading on Tuesday, hitting $18.66. The company had a trading volume of 965,411 shares, compared to its average volume of 1,643,211. The firm has a fifty day simple moving average of $17.30 and a 200 day simple moving average of $15.26. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -85.71 and a beta of 1.10. Douglas Emmett has a 12 month low of $10.76 and a 12 month high of $19.27. 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 (NYSE:DEI) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.38). Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business had revenue of $250.75 million during the quarter, compared to analyst estimates of $242.75 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts predict 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. Investors 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 4.07%. Douglas Emmett’s dividend payout ratio is presently -361.90%.

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.