Douglas Emmett (NYSE:DEI) Issues FY 2024 Earnings Guidance

Douglas Emmett (NYSE:DEI) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 1.690-1.730 for the period, compared to the consensus estimate of 1.670. The company issued revenue guidance of -. Douglas Emmett also updated its FY24 guidance to $1.69-1.73 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Scotiabank increased their price objective on Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Citigroup upped their price target on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Piper Sandler raised their price objective on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.29.

Douglas Emmett Stock Up 3.0 %

Shares of DEI traded up $0.54 during mid-day trading on Tuesday, hitting $18.54. 1,308,203 shares of the company’s stock were exchanged, compared to its average volume of 1,644,813. The stock’s 50-day moving average is $17.30 and its 200-day moving average is $15.26. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.11 and a current ratio of 5.11. Douglas Emmett has a fifty-two week low of $10.76 and a fifty-two week high of $19.27. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -85.71 and a beta of 1.10.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.38). Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business had revenue of $250.75 million during the quarter, compared to analysts’ expectations of $242.75 million. During the same period in the prior year, the business earned $0.45 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Douglas Emmett will post 1.68 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors 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 annualized dividend and a yield of 4.10%. Douglas Emmett’s dividend payout ratio (DPR) is -361.90%.

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.