Douglas Emmett (NYSE:DEI) Announces Earnings Results, Misses Estimates By $0.38 EPS

Douglas Emmett (NYSE:DEI) issued its earnings results on Tuesday. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38), FiscalAI reports. Douglas Emmett had a negative net margin of 2.04% and a negative return on equity of 0.60%. The firm had revenue of $260.86 million during the quarter, compared to the consensus estimate of $256.76 million. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis.

Douglas Emmett Stock Down 2.4%

Douglas Emmett stock opened at $10.18 on Friday. The company has a 50 day moving average of $10.21 and a 200-day moving average of $10.86. The company has a quick ratio of 2.60, a current ratio of 2.01 and a debt-to-equity ratio of 1.64. Douglas Emmett has a twelve month low of $9.04 and a twelve month high of $12.97. The stock has a market capitalization of $1.70 billion, a PE ratio of -78.27 and a beta of 1.18.

Douglas Emmett Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Wednesday, September 30th. Douglas Emmett’s dividend payout ratio is -584.62%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Cantor Fitzgerald raised their price objective on Douglas Emmett from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Scotiabank decreased their target price on Douglas Emmett from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, September 17th. Wall Street Zen cut Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings downgraded Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.