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

Douglas Emmett (NYSE:DEI) announced its quarterly earnings results on Tuesday. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.38), FiscalAI reports. The firm had revenue of $260.86 million for the quarter, compared to analyst estimates of $256.76 million. Douglas Emmett had a negative net margin of 2.27% and a negative return on equity of 0.66%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.34 EPS.

Douglas Emmett Stock Performance

Shares of NYSE DEI opened at $9.84 on Wednesday. The stock has a fifty day moving average price of $10.31 and a two-hundred day moving average price of $10.87. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.60 and a current ratio of 2.60. The firm has a market cap of $1.65 billion, a P/E ratio of 7.08 and a beta of 1.18. Douglas Emmett has a 1 year low of $9.04 and a 1 year high of $12.99.

Douglas Emmett Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Douglas Emmett’s dividend payout ratio (DPR) is presently -506.67%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Scotiabank reduced their target price on shares of 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. Piper Sandler cut their price target on Douglas Emmett from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. JPMorgan Chase & Co. lifted their price target on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Weiss Ratings downgraded Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen raised Douglas Emmett from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Douglas Emmett currently has an average rating of “Hold” and a consensus price target of $13.14.

About Douglas Emmett

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.