Douglas Emmett (NYSE:DEI) Releases 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 Trading Up 3.0 %

Shares of DEI stock traded up $0.54 on Tuesday, reaching $18.54. 1,308,203 shares of the company’s stock were exchanged, compared to its average volume of 1,644,813. The company’s fifty day simple moving average is $17.30 and its 200 day simple moving average is $15.26. The stock has a market capitalization of $3.10 billion, a PE ratio of -85.71 and a beta of 1.10. 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 52 week low of $10.76 and a 52 week high of $19.27.

Douglas Emmett (NYSE:DEI) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. During the same period last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, analysts forecast that Douglas Emmett will post 1.68 EPS for the current year.

Douglas Emmett Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s dividend payout ratio (DPR) is currently -361.90%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DEI. Evercore ISI lifted their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Piper Sandler boosted their price target on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Wells Fargo & Company lifted their target price on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Finally, Citigroup lifted their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research note 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. According to data from MarketBeat.com, the company presently has an average 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.