Douglas Emmett (NYSE:DEI) Posts Earnings Results, Misses Expectations By $0.38 EPS

Douglas Emmett (NYSE:DEI) released its 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. 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 company posted $0.45 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. 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 0.7 %

Shares of NYSE DEI opened at $18.62 on Thursday. The stock has a fifty day moving average price of $17.40 and a 200 day moving average price of $15.32. 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 has a 12-month low of $10.76 and a 12-month high of $19.50. The company has a market cap of $3.12 billion, a P/E ratio of -88.64 and a beta of 1.10.

Douglas Emmett Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 4.08%. Douglas Emmett’s dividend payout ratio (DPR) is -361.90%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Scotiabank upped 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 note on Monday, August 26th. Wells Fargo & Company upped their price target 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. Evercore ISI lifted their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Citigroup lifted their target price on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.