Brokers Set Expectations for Douglas Emmett FY2024 Earnings

Douglas Emmett, Inc. (NYSE:DEI) – Stock analysts at Wedbush increased their FY2024 earnings per share estimates for Douglas Emmett in a research report issued on Wednesday, November 13th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $1.71 for the year, up from their previous forecast of $1.67. The consensus estimate for Douglas Emmett’s current full-year earnings is $1.70 per share.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Monday, November 4th. 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). The company had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. Douglas Emmett had a negative net margin of 1.68% and a negative return on equity of 0.43%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share.

A number of other analysts have also weighed in on DEI. Evercore ISI raised their target price on Douglas Emmett from $16.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Piper Sandler lifted their price objective on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Citigroup lifted their price objective on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Scotiabank upgraded Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $16.00 to $21.00 in a research report on Thursday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Douglas Emmett has a consensus rating of “Hold” and an average target price of $17.43.

Douglas Emmett Stock Up 2.1 %

Shares of NYSE:DEI opened at $18.48 on Friday. Douglas Emmett has a twelve month low of $11.08 and a twelve month high of $19.59. The company has a debt-to-equity ratio of 1.51, a quick ratio of 5.11 and a current ratio of 4.09. The business has a fifty day moving average of $17.68 and a 200-day moving average of $15.50.

Douglas Emmett Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Monday, September 30th. Douglas Emmett’s dividend payout ratio (DPR) is currently -760.00%.

Hedge Funds Weigh In On Douglas Emmett

Several institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Douglas Emmett by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,090,198 shares of the real estate investment trust’s stock valued at $107,681,000 after purchasing an additional 165,425 shares in the last quarter. FMR LLC lifted its holdings in shares of Douglas Emmett by 8.5% during the 3rd quarter. FMR LLC now owns 4,883,814 shares of the real estate investment trust’s stock valued at $85,809,000 after purchasing an additional 384,371 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Douglas Emmett by 20.8% during the 1st quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock valued at $59,817,000 after purchasing an additional 751,419 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Douglas Emmett by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,797,822 shares of the real estate investment trust’s stock valued at $66,728,000 after purchasing an additional 127,274 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Douglas Emmett by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,495,263 shares of the real estate investment trust’s stock valued at $33,212,000 after purchasing an additional 186,385 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

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.