Douglas Emmett (NYSE:DEI) Issues FY24 Earnings Guidance

Douglas Emmett (NYSE:DEI) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $1.69-1.73 for the period, compared to the consensus EPS estimate of $1.67. Douglas Emmett also updated its FY 2024 guidance to 1.690-1.730 EPS.

Douglas Emmett Price Performance

NYSE DEI traded up $0.66 during trading on Tuesday, hitting $18.66. 965,411 shares of the company’s stock were exchanged, compared to its average volume of 1,643,211. Douglas Emmett has a fifty-two week low of $10.76 and a fifty-two week high of $19.27. The stock’s 50 day moving average price is $17.30 and its two-hundred day moving average price is $15.26. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 1.47. The company has a market cap of $3.12 billion, a PE ratio of -85.71 and a beta of 1.10.

Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.38). The firm 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%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. Research analysts expect that Douglas Emmett will post 1.68 EPS for the current year.

Douglas Emmett Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a $0.19 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 4.07%. Douglas Emmett’s payout ratio is currently -361.90%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price target on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Piper Sandler lifted their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Citigroup boosted their target price on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. lifted their price target on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Evercore ISI lifted their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.