Douglas Emmett (NYSE:DEI) Issues Quarterly 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38), FiscalAI reports. Douglas Emmett had a negative return on equity of 0.60% and a negative net margin of 2.04%. The business had revenue of $260.86 million during the quarter, compared to the consensus estimate of $256.76 million. During the same period in the prior year, the business earned $0.34 EPS. The business’s revenue was up 4.0% on a year-over-year basis.

Douglas Emmett Trading Down 1.7%

Shares of NYSE DEI traded down $0.18 during mid-day trading on Thursday, hitting $10.39. 515,450 shares of the company traded hands, compared to its average volume of 2,349,443. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.63. Douglas Emmett has a 1 year low of $9.04 and a 1 year high of $12.97. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -79.96 and a beta of 1.18. The business has a 50 day moving average of $10.27 and a two-hundred day moving average of $10.87.

Douglas Emmett Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend was Wednesday, September 30th. Douglas Emmett’s dividend payout ratio is currently -506.67%.

Wall Street Analyst Weigh In

DEI has been the subject of several recent analyst reports. Weiss Ratings cut shares of Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Wall Street Zen raised Douglas Emmett from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Cantor Fitzgerald boosted their price objective on Douglas Emmett from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their price objective on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Finally, Scotiabank decreased their price target 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. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.