Douglas Emmett (NYSE:DEI) Releases Earnings Results, Hits Expectations

Douglas Emmett (NYSE:DEI) released its earnings results on Tuesday. The real estate investment trust reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05), FiscalAI reports. Douglas Emmett had a negative net margin of 2.27% and a negative return on equity of 0.66%. The firm had revenue of $260.86 million for the quarter, compared to the consensus estimate of $256.76 million.

Douglas Emmett Stock Performance

Shares of Douglas Emmett stock traded down $0.29 during trading on Tuesday, hitting $9.84. 2,084,303 shares of the company’s stock traded hands, compared to its average volume of 2,355,656. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.60 and a quick ratio of 2.60. Douglas Emmett has a 1 year low of $9.04 and a 1 year high of $12.99. The stock has a market capitalization of $1.65 billion, a P/E ratio of -65.57 and a beta of 1.18. The business has a 50-day simple moving average of $10.35 and a 200-day simple moving average of $10.88.

Douglas Emmett Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 7.7%. Douglas Emmett’s dividend payout ratio (DPR) is -506.67%.

Analysts Set New Price Targets

Several analysts recently commented on DEI shares. Wall Street Zen raised shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Piper Sandler decreased their target price on shares of Douglas Emmett from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, October 12th. Scotiabank decreased their target price on shares of Douglas Emmett from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Thursday, September 17th. Cantor Fitzgerald upped their target price on shares of Douglas Emmett from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Weiss Ratings cut shares of Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Douglas Emmett presently has an average rating of “Hold” and a consensus target price of $13.14.

Douglas Emmett Company Profile

Douglas Emmett, Inc (NYSE: DEI) is a self-administered and self-managed real estate investment trust (REIT) that owns, acquires, develops, redevelops and manages office and multifamily apartment properties. The company focuses on high-quality assets in supply-constrained markets with strong employment and housing demand.

Douglas Emmett’s portfolio is concentrated in Southern California and Honolulu. Its office properties are primarily located in prominent Los Angeles submarkets, including Century City, Brentwood, Westwood, Santa Monica, Warner Center and the Wilshire Corridor.