Zacks: Brokerages Anticipate Douglas Emmett, Inc. (DEI) to Announce $0.48 EPS
Wall Street analysts forecast that Douglas Emmett, Inc. (NYSE:DEI) will post $0.48 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Douglas Emmett’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.48. Douglas Emmett posted earnings of $0.46 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The business is scheduled to announce its next earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Douglas Emmett will report full-year earnings of $1.91 per share for the current financial year, with EPS estimates ranging from $1.90 to $1.94. For the next fiscal year, analysts forecast that the business will report earnings of $2.04 per share, with EPS estimates ranging from $2.01 to $2.07. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Douglas Emmett.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $170.35 million during the quarter, compared to the consensus estimate of $191.93 million. Douglas Emmett had a net margin of 11.50% and a return on equity of 3.03%.
DEI has been the subject of a number of research analyst reports. DA Davidson downgraded shares of Douglas Emmett from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $43.00 in a report on Thursday, May 18th. Zacks Investment Research raised shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of Douglas Emmett from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, April 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $37.00 price objective on shares of Douglas Emmett in a report on Wednesday, February 8th. Finally, Mizuho lifted their price objective on shares of Douglas Emmett from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, February 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $39.15.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $39.19, for a total value of $3,919,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 300,000 shares of company stock valued at $11,546,000 over the last three months. 23.00% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of DEI. Public Employees Retirement System of Ohio increased its stake in Douglas Emmett by 0.7% in the first quarter. Public Employees Retirement System of Ohio now owns 227,800 shares of the real estate investment trust’s stock valued at $8,748,000 after buying an additional 1,661 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Douglas Emmett by 12.5% in the first quarter. Goldman Sachs Group Inc. now owns 953,271 shares of the real estate investment trust’s stock valued at $36,606,000 after buying an additional 105,977 shares in the last quarter. Credit Suisse AG increased its stake in Douglas Emmett by 5.9% in the first quarter. Credit Suisse AG now owns 607,114 shares of the real estate investment trust’s stock valued at $23,314,000 after buying an additional 33,637 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Douglas Emmett by 0.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 143,261 shares of the real estate investment trust’s stock valued at $5,501,000 after buying an additional 985 shares in the last quarter. Finally, State Street Corp increased its stake in Douglas Emmett by 1.8% in the first quarter. State Street Corp now owns 6,239,916 shares of the real estate investment trust’s stock valued at $239,609,000 after buying an additional 109,725 shares in the last quarter. 99.06% of the stock is owned by institutional investors and hedge funds.
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Shares of Douglas Emmett (NYSE:DEI) traded down 0.86% on Friday, hitting $37.98. 151,874 shares of the stock traded hands. Douglas Emmett has a 52 week low of $33.00 and a 52 week high of $40.79. The stock has a 50-day moving average price of $38.58 and a 200 day moving average price of $37.86. The firm has a market cap of $5.87 billion, a P/E ratio of 66.05 and a beta of 0.76.
Douglas Emmett Company Profile
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in Los Angeles and Honolulu. The Company operates through two segments: the acquisition, development, ownership and management of office real estate (Office Segment), and the acquisition, development, ownership and management of multifamily real estate (Multifamily Segment).
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