Douglas Emmett (NYSE:DEI) Announces Earnings Results

Douglas Emmett (NYSE:DEI) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01, Zacks reports. Douglas Emmett had a negative return on equity of 0.66% and a negative net margin of 2.27%. The business had revenue of $260.86 million during the quarter, compared to analysts’ expectations of $256.76 million. During the same quarter last year, the business posted $0.34 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year.

Douglas Emmett Stock Performance

DEI traded down $0.29 on Tuesday, reaching $9.84. The company had a trading volume of 2,084,303 shares, compared to its average volume of 2,355,656. 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 PE ratio of -65.57 and a beta of 1.18. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.63. The stock has a 50-day moving average price of $10.31 and a 200-day moving average price of $10.87.

Douglas Emmett Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DEI shares. JPMorgan Chase & Co. raised their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Wall Street Zen upgraded shares of Douglas Emmett from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Piper Sandler dropped their price objective on shares of Douglas Emmett from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Scotiabank dropped their price objective on shares of Douglas Emmett from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 17th. Finally, Weiss Ratings lowered 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.