$0.48 Earnings Per Share Expected for Douglas Emmett, Inc. (NYSE:DEI) This Quarter
Equities research analysts forecast that Douglas Emmett, Inc. (NYSE:DEI) will announce earnings per share (EPS) of $0.48 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Douglas Emmett’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.49. Douglas Emmett posted earnings of $0.47 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 2.1%. The firm is expected to issue its next earnings results on Tuesday, November 7th.
On average, analysts expect that Douglas Emmett will report full-year earnings of $1.91 per share for the current year, with EPS estimates ranging from $1.89 to $1.92. For the next financial year, analysts anticipate that the company will post earnings of $2.03 per share, with EPS estimates ranging from $2.00 to $2.06. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Douglas Emmett.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.01. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The business had revenue of $199.60 million during the quarter, compared to analyst estimates of $198.60 million. During the same period in the previous year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year.
A number of research firms have issued reports on DEI. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a report on Friday. Stifel Nicolaus upgraded Douglas Emmett from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $42.00 in a report on Wednesday, August 2nd. They noted that the move was a valuation call. BidaskClub upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reiterated a “hold” rating and issued a $39.00 price objective on shares of Douglas Emmett in a report on Tuesday, July 4th. Finally, Barclays PLC decreased their price objective on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.56.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $38.97, for a total transaction of $3,897,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 300,000 shares of company stock worth $11,487,000 over the last ninety days. 17.80% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in DEI. BlackRock Inc. boosted its position in shares of Douglas Emmett by 5,476.3% in the first quarter. BlackRock Inc. now owns 16,063,311 shares of the real estate investment trust’s stock valued at $616,831,000 after buying an additional 15,775,247 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Douglas Emmett by 32.9% in the first quarter. Bank of New York Mellon Corp now owns 6,718,959 shares of the real estate investment trust’s stock valued at $258,007,000 after buying an additional 1,664,776 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Douglas Emmett by 3.2% in the first quarter. Vanguard Group Inc. now owns 22,897,888 shares of the real estate investment trust’s stock valued at $879,280,000 after buying an additional 718,419 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Douglas Emmett during the second quarter valued at about $17,506,000. Finally, Boston Partners boosted its position in shares of Douglas Emmett by 12.8% in the first quarter. Boston Partners now owns 3,907,349 shares of the real estate investment trust’s stock valued at $150,042,000 after buying an additional 443,555 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.
Shares of Douglas Emmett (NYSE:DEI) opened at 38.57 on Monday. Douglas Emmett has a 52-week low of $33.78 and a 52-week high of $40.79. The firm has a market cap of $6.01 billion, a P/E ratio of 65.93 and a beta of 0.69. The company has a 50-day moving average of $38.21 and a 200 day moving average of $38.47.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.39%. Douglas Emmett’s dividend payout ratio (DPR) is presently 155.93%.
About Douglas Emmett
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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