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.
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