Douglas Emmett (NYSE:DEI) Releases Quarterly Earnings Results, Misses Estimates By $0.38 EPS

Douglas Emmett (NYSE:DEI) posted its earnings results on Monday. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.38), Zacks reports. The business had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. Douglas Emmett’s revenue for the quarter 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 Performance

NYSE:DEI traded up $0.13 during mid-day trading on Wednesday, hitting $18.62. The stock had a trading volume of 2,860,375 shares, compared to its average volume of 1,657,804. Douglas Emmett has a twelve month low of $10.76 and a twelve month high of $19.50. 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 stock has a market cap of $3.12 billion, a price-to-earnings ratio of -87.05 and a beta of 1.10. The company’s 50 day simple moving average is $17.35 and its 200 day simple moving average is $15.29.

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 $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 4.08%. Douglas Emmett’s payout ratio is -361.90%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective 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. Wells Fargo & Company boosted their price target on Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Citigroup boosted their target price on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Piper Sandler lifted their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Scotiabank boosted their price objective on shares of 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.