Brokers Issue Forecasts for Douglas Emmett FY2024 Earnings

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

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Wells Fargo & Company raised their target price on shares of Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Evercore ISI lifted their target price on Douglas Emmett from $16.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Citigroup raised their price target on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Piper Sandler boosted their price objective on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.43.

Douglas Emmett Stock Performance

DEI stock opened at $18.39 on Friday. The stock’s 50 day simple moving average is $17.79 and its 200 day simple moving average is $15.56. Douglas Emmett has a 12-month low of $11.08 and a 12-month high of $19.59. The firm has a market cap of $3.08 billion, a P/E ratio of -183.90 and a beta of 1.10. 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 (NYSE:DEI) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.38). Douglas Emmett had a negative return on equity of 0.43% and a negative net margin of 1.68%. The firm had revenue of $250.75 million during the quarter, compared to analyst estimates of $242.75 million. During the same quarter last year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis.

Douglas Emmett Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.13%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s dividend payout ratio is currently -760.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wolverine Asset Management LLC bought a new position in Douglas Emmett in the 2nd quarter valued at about $32,000. Venturi Wealth Management LLC bought a new position in shares of Douglas Emmett in the third quarter valued at approximately $48,000. Blue Trust Inc. boosted its holdings in shares of Douglas Emmett by 1,081.5% in the third quarter. Blue Trust Inc. now owns 3,710 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 3,396 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Douglas Emmett by 44.6% during the third quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 1,175 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings in Douglas Emmett by 62.0% during the third quarter. Raleigh Capital Management Inc. now owns 3,856 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 1,476 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

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.