Douglas Emmett (NYSE:DEI) Updates FY24 Earnings Guidance

by · The Markets Daily

Douglas Emmett (NYSE:DEI – Get Free Report) 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.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DEI shares. JPMorgan Chase & Co. boosted their target price 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. Wells Fargo & Company raised their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Citigroup lifted their target price 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. Piper Sandler boosted their price target on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Evercore ISI raised their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.29.

View Our Latest Stock Report on Douglas Emmett

Douglas Emmett Price Performance

DEI stock traded up $0.48 during trading on Monday, reaching $18.00. The company’s stock had a trading volume of 1,620,715 shares, compared to its average volume of 1,646,388. The company’s fifty day moving average is $17.26 and its 200-day moving average is $15.22. Douglas Emmett has a 1 year low of $10.76 and a 1 year high of $19.27. The company has a market capitalization of $3.01 billion, a P/E ratio of -83.43 and a beta of 1.10. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 1.47.

Douglas Emmett (NYSE:DEI – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.37). Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $246.62 million. During the same period in the previous year, the company earned $0.48 EPS. Douglas Emmett’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, research analysts expect that Douglas Emmett will post 1.68 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 4.22%. Douglas Emmett’s payout ratio is -361.90%.

Douglas Emmett Company Profile

(Get Free Report)

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.

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