FY2024 EPS Estimates for Douglas Emmett Lifted by Wedbush

Douglas Emmett, Inc. (NYSE:DEI) – Research analysts at Wedbush increased their FY2024 earnings per share (EPS) estimates for shares of Douglas Emmett in a research report issued to clients and investors on Wednesday, November 13th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $1.71 per share for the year, up from their prior estimate of $1.67. The consensus estimate for Douglas Emmett’s current full-year earnings is $1.70 per share.

Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.38). The firm had revenue of $250.75 million during the quarter, compared to the consensus estimate of $242.75 million. Douglas Emmett had a negative net margin of 1.68% and a negative return on equity of 0.43%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share.

DEI has been the subject of a number of other reports. Scotiabank upgraded Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $16.00 to $21.00 in a research report on Thursday. Wells Fargo & Company increased their price target on Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their price target on Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Citigroup raised their target price on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Piper Sandler increased their price target on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.43.

Douglas Emmett Price Performance

NYSE:DEI opened at $18.48 on Friday. The stock has a fifty day moving average price of $17.68 and a 200-day moving average price of $15.50. The company has a current ratio of 4.09, a quick ratio of 5.11 and a debt-to-equity ratio of 1.51. Douglas Emmett has a fifty-two week low of $11.08 and a fifty-two week high of $19.59.

Institutional Trading of Douglas Emmett

A number of institutional investors and hedge funds have recently modified their holdings of the business. Manning & Napier Advisors LLC purchased a new stake in Douglas Emmett in the second quarter worth $3,825,000. Centersquare Investment Management LLC grew its holdings in shares of Douglas Emmett by 20.8% during the first quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock worth $59,817,000 after purchasing an additional 751,419 shares in the last quarter. Swedbank AB bought a new position in shares of Douglas Emmett in the 1st quarter worth $661,000. Caxton Associates LP bought a new position in Douglas Emmett in the first quarter valued at $974,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Douglas Emmett by 57.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 175,000 shares of the real estate investment trust’s stock valued at $2,427,000 after purchasing an additional 64,000 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Douglas Emmett Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s payout ratio is -760.00%.

About Douglas Emmett

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.