Brokerages Anticipate Douglas Emmett, Inc. (NYSE:DEI) Will Post Quarterly Sales of $189.43 Million
Brokerages forecast that Douglas Emmett, Inc. (NYSE:DEI) will announce sales of $189.43 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Douglas Emmett’s earnings. The highest sales estimate is $202.18 million and the lowest is $173.12 million. Douglas Emmett posted sales of $187.22 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.2%. The firm is expected to report its next earnings report after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that Douglas Emmett will report full year sales of $189.43 million for the current financial year, with estimates ranging from $696.85 million to $812.81 million. For the next financial year, analysts anticipate that the company will report sales of $800.18 million per share, with estimates ranging from $732.89 million to $865.86 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Douglas Emmett.
Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. Douglas Emmett had a return on equity of 3.06% and a net margin of 11.97%. The business had revenue of $170.35 million for the quarter, compared to the consensus estimate of $191.93 million.
Several research firms have weighed in on DEI. BMO Capital Markets reissued a “hold” rating and issued a $39.00 price target on shares of Douglas Emmett in a report on Tuesday, July 4th. Zacks Investment Research raised shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Tuesday. BidaskClub raised shares of Douglas Emmett from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. J P Morgan Chase & Co increased their price target on shares of Douglas Emmett from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 3rd. Finally, Barclays PLC lowered their price target on shares of Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Douglas Emmett currently has a consensus rating of “Hold” and a consensus price target of $39.11.
Douglas Emmett (NYSE DEI) traded up 0.93% during midday trading on Wednesday, reaching $37.95. The company had a trading volume of 56,433 shares. The stock’s 50 day moving average price is $38.29 and its 200-day moving average price is $38.40. The firm has a market capitalization of $5.87 billion, a P/E ratio of 66.00 and a beta of 0.69. Douglas Emmett has a one year low of $33.78 and a one year high of $40.79.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. Douglas Emmett’s payout ratio is presently 158.62%.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $37.93, for a total transaction of $3,793,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 300,000 shares of company stock worth $11,609,000. Company insiders own 23.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in DEI. PNC Financial Services Group Inc. raised its position in shares of Douglas Emmett by 9.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 299 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Douglas Emmett during the fourth quarter worth about $149,000. A.R.T. Advisors LLC acquired a new position in shares of Douglas Emmett during the fourth quarter worth about $204,000. Tyers Asset Management LLC raised its position in shares of Douglas Emmett by 23.5% in the first quarter. Tyers Asset Management LLC now owns 5,376 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 1,024 shares during the last quarter. Finally, Clinton Group Inc. acquired a new position in shares of Douglas Emmett during the first quarter worth about $222,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Douglas Emmett Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Douglas Emmett Inc. and related companies with MarketBeat.com's FREE daily email newsletter.