Douglas Emmett (NYSE:DEI) Updates FY24 Earnings Guidance

Douglas Emmett (NYSE:DEI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.64-$1.70 for the period, compared to the consensus EPS estimate of $1.67.

Douglas Emmett Stock Down 1.1 %

Shares of NYSE DEI traded down $0.15 during mid-day trading on Tuesday, hitting $13.75. 2,096,751 shares of the stock traded hands, compared to its average volume of 1,850,887. The stock has a fifty day moving average price of $13.43 and a 200-day moving average price of $13.36. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 1.44. Douglas Emmett has a 52 week low of $10.09 and a 52 week high of $16.12.

Douglas Emmett Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.76 annualized dividend and a dividend yield of 5.53%. Douglas Emmett’s payout ratio is -292.31%.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their target price on Douglas Emmett from $17.00 to $15.00 and set a neutral rating on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $13.67.

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.