Douglas Emmett (NYSE:DEI – Get Free Report) posted its earnings results on Tuesday. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01, Zacks reports. The company had revenue of $260.86 million for the quarter, compared to the consensus estimate of $256.76 million. Douglas Emmett had a negative return on equity of 0.66% and a negative net margin of 2.27%. Douglas Emmett’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share.
Douglas Emmett Trading Down 2.9%
Shares of DEI stock opened at $9.84 on Wednesday. The firm has a 50-day moving average price of $10.31 and a 200 day moving average price of $10.87. Douglas Emmett has a twelve month low of $9.04 and a twelve month high of $12.99. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 7.08 and a beta of 1.18. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.63.
Douglas Emmett Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given 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 was Wednesday, September 30th. Douglas Emmett’s dividend payout ratio (DPR) is currently -506.67%.
Wall Street Analyst Weigh In
DEI has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Piper Sandler lowered their price target on shares of Douglas Emmett from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Scotiabank dropped their price objective 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. Weiss Ratings cut shares of Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Finally, Cantor Fitzgerald lifted 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. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.14.
Read Our Latest Analysis on DEI
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.
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