Douglas Emmett (NYSE:DEI) Announces Quarterly Earnings Results

Key Points

• Douglas Emmett met earnings expectations, reporting a quarterly loss of $0.05 per share, while revenue of $260.86 million exceeded analysts’ $256.76 million estimate.
• The REIT paid a quarterly dividend of $0.19 per share, equivalent to $0.76 annualized and a reported yield of 7.7%.
• Analysts’ consensus rating was Hold, with a $13.14 average price target; DEI shares traded down to $9.84 on Tuesday.

Douglas Emmett (NYSE:DEI - Get Free Report) 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 analyst estimates of $256.76 million.

Douglas Emmett Stock Performance

NYSE DEI traded down $0.29 during trading on Tuesday, reaching $9.84. 2,084,303 shares of the company's stock were exchanged, compared to its average volume of 2,355,656. Douglas Emmett has a fifty-two week low of $9.04 and a fifty-two week 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 moving average price of $10.35 and a 200-day moving average price of $10.88. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 7.7%. The ex-dividend date was Wednesday, September 30th. Douglas Emmett's payout ratio is presently -506.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Douglas Emmett from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Scotiabank decreased their price objective 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. JPMorgan Chase & Co. raised their price objective on Douglas Emmett from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 9th. Weiss Ratings lowered Douglas Emmett from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, October 8th. Finally, 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 report on Monday, October 12th. 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus 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.

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