Douglas Emmett, Inc. (DEI) Issues FY14 Earnings Guidance
Douglas Emmett, Inc. (NYSE:DEI) updated its FY14 earnings guidance on Thursday. The company provided earnings per share guidance of $1.57-1.63 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.60, American Banking News.com reports.
A number of analysts have recently weighed in on DEI shares. Analysts at Cowen and Company raised their price target on shares of Douglas Emmett from $3.00 to $27.00 in a research note on Tuesday. On a related note, analysts at Mizuho initiated coverage on shares of Douglas Emmett in a research note on Wednesday, July 23rd. They set a buy rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an overweight rating on shares of Douglas Emmett in a research note on Thursday, May 29th. They now have a $30.00 price target on the stock, up previously from $28.00. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Douglas Emmett has a consensus rating of Hold and an average target price of $28.00.
Shares of Douglas Emmett, Inc. (NYSE:DEI) traded down 1.76% on Thursday, hitting $28.49. 503,849 shares of the company’s stock traded hands. Douglas Emmett, Inc. has a 52-week low of $22.27 and a 52-week high of $29.56. The stock has a 50-day moving average of $28.70 and a 200-day moving average of $27.3. The company has a market cap of $4.093 billion and a P/E ratio of 91.77.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $148.90 million for the quarter, compared to the consensus estimate of $151.57 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Douglas Emmett, Inc. will post $1.60 earnings per share for the current fiscal year.
In other Douglas Emmett news, major shareholder Dan A. Emmett sold 140,000 shares of the company’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $29.11, for a total value of $4,075,400.00. The sale was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Douglas Emmett, Inc is a self-administered and self-managed Real Estate Investment Trust (NYSE:DEI).
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