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

Douglas Emmett (NYSE:DEI) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 1.690-1.730 for the period, compared to the consensus EPS estimate of 1.670. The company issued revenue guidance of -. Douglas Emmett also updated its FY24 guidance to $1.69-1.73 EPS.

Douglas Emmett Price Performance

Shares of NYSE DEI traded up $0.48 during midday trading on Monday, reaching $18.00. The stock had a trading volume of 1,681,210 shares, compared to its average volume of 1,646,388. Douglas Emmett has a 12-month low of $10.76 and a 12-month high of $19.27. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.11 and a current ratio of 5.11. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -83.43 and a beta of 1.10. The stock has a 50-day moving average of $17.26 and a 200-day moving average of $15.22.

Douglas Emmett (NYSE:DEI) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.37). Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. The company had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $246.62 million. During the same period last year, the business posted $0.48 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Douglas Emmett will post 1.68 EPS for the current fiscal year.

Douglas Emmett Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s dividend payout ratio (DPR) is -361.90%.

Analyst Ratings Changes

DEI has been the topic of a number of recent research reports. Piper Sandler boosted their price objective on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Evercore ISI raised their price target on Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Citigroup increased their price objective on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. raised their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Scotiabank boosted their target price on Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.29.

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.