Zacks: Brokerages Anticipate Douglas Emmett, Inc. (DEI) to Post $0.51 EPS

Share on StockTwits

Wall Street analysts expect that Douglas Emmett, Inc. (NYSE:DEI) will report $0.51 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Douglas Emmett’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.50. Douglas Emmett reported earnings of $0.48 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The business is scheduled to report its next quarterly earnings results on Tuesday, November 6th.

On average, analysts expect that Douglas Emmett will report full-year earnings of $2.01 per share for the current year, with EPS estimates ranging from $1.99 to $2.03. For the next fiscal year, analysts anticipate that the company will post earnings of $2.12 per share, with EPS estimates ranging from $2.09 to $2.17. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Douglas Emmett.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.31). The business had revenue of $219.47 million for the quarter, compared to the consensus estimate of $215.12 million. Douglas Emmett had a net margin of 13.94% and a return on equity of 2.96%.

A number of brokerages have recently issued reports on DEI. Citigroup lifted their price target on Douglas Emmett from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on Douglas Emmett from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Mizuho upgraded Douglas Emmett from a “neutral” rating to a “buy” rating and lifted their price target for the company from $39.00 to $44.00 in a research report on Monday, June 18th. Finally, Barclays reiterated a “sell” rating and set a $37.00 price target on shares of Douglas Emmett in a research report on Tuesday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Douglas Emmett currently has a consensus rating of “Hold” and an average target price of $41.33.

Shares of DEI traded down $0.41 during trading hours on Friday, reaching $38.83. 573,316 shares of the company’s stock traded hands, compared to its average volume of 756,296. The company has a market cap of $6.67 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.65. The company has a current ratio of 2.30, a quick ratio of 2.17 and a debt-to-equity ratio of 1.04. Douglas Emmett has a 12 month low of $34.72 and a 12 month high of $41.59.

The company also recently announced a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Friday, June 29th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 2.58%. Douglas Emmett’s payout ratio is 52.63%.

In other news, Director William E. Simon, Jr. bought 7,700 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was bought at an average price of $38.55 per share, for a total transaction of $296,835.00. Following the transaction, the director now directly owns 9,700 shares of the company’s stock, valued at approximately $373,935. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in DEI. BlackRock Inc. increased its stake in Douglas Emmett by 0.9% in the 2nd quarter. BlackRock Inc. now owns 19,109,240 shares of the real estate investment trust’s stock worth $767,810,000 after purchasing an additional 176,454 shares during the period. Cbre Clarion Securities LLC increased its stake in Douglas Emmett by 226.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,615,753 shares of the real estate investment trust’s stock worth $265,821,000 after purchasing an additional 4,587,109 shares during the period. Boston Partners increased its stake in Douglas Emmett by 2.6% in the 2nd quarter. Boston Partners now owns 4,450,250 shares of the real estate investment trust’s stock worth $178,811,000 after purchasing an additional 112,228 shares during the period. Dimensional Fund Advisors LP increased its stake in Douglas Emmett by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,382,937 shares of the real estate investment trust’s stock worth $95,743,000 after purchasing an additional 51,564 shares during the period. Finally, Resolution Capital Ltd increased its stake in Douglas Emmett by 8.6% in the 1st quarter. Resolution Capital Ltd now owns 2,322,571 shares of the real estate investment trust’s stock worth $85,378,000 after purchasing an additional 183,628 shares during the period. Institutional investors own 95.28% of the company’s stock.

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.

See Also: What is a closed-end mutual fund (CEF)?

Get a free copy of the Zacks research report on Douglas Emmett (DEI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Douglas Emmett (NYSE:DEI)

Receive News & Ratings for Douglas Emmett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Douglas Emmett and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply