Douglas Emmett (NYSE:DEI) Updates FY24 Earnings Guidance

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

Douglas Emmett Trading Up 2.1 %

Shares of Douglas Emmett stock traded up $0.40 on Thursday, reaching $19.04. 368,947 shares of the stock were exchanged, compared to its average volume of 1,651,728. 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 business has a 50 day moving average price of $17.40 and a two-hundred day moving average price of $15.32. Douglas Emmett has a twelve month low of $10.76 and a twelve month high of $19.50.

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 company had revenue of $250.75 million for the quarter, compared to analyst estimates of $242.75 million. Douglas Emmett had a negative return on equity of 0.42% and a negative net margin of 1.68%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.45 EPS. As a group, analysts predict that Douglas Emmett will post 1.68 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 3.99%. Douglas Emmett’s payout ratio is -760.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DEI. Piper Sandler boosted their target price on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Wells Fargo & Company increased their target price on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Scotiabank lifted their target price on Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Citigroup increased their price target on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.71.

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.