Douglas Emmett, Inc. (DEI) Expected to Announce Earnings of $0.48 Per Share
Wall Street analysts expect Douglas Emmett, Inc. (NYSE:DEI) to report earnings of $0.48 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Douglas Emmett’s earnings. The lowest EPS estimate is $0.47 and the highest is $0.49. Douglas Emmett reported earnings of $0.21 per share in the same quarter last year, which suggests a positive year over year growth rate of 128.6%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Douglas Emmett will report full-year earnings of $1.90 per share for the current fiscal year, with EPS estimates ranging from $1.89 to $1.91. For the next financial year, analysts forecast that the firm will report earnings of $2.03 per share, with EPS estimates ranging from $1.99 to $2.06. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Douglas Emmett.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $198.60 million. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS.
A number of analysts have recently weighed in on DEI shares. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 price objective on shares of Douglas Emmett in a research report on Thursday, September 21st. Zacks Investment Research raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Tuesday, July 18th. KeyCorp reaffirmed a “hold” rating on shares of Douglas Emmett in a research report on Sunday, September 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $39.00 price target on shares of Douglas Emmett in a research report on Tuesday, July 4th. Finally, Janney Montgomery Scott assumed coverage on Douglas Emmett in a research report on Friday, September 8th. They set a “neutral” rating for the company. Five 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 company. The company currently has an average rating of “Hold” and an average price target of $39.56.
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In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $37.96, for a total transaction of $3,796,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 300,000 shares of company stock valued at $11,492,000. 17.80% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of DEI. FMR LLC lifted its holdings in shares of Douglas Emmett by 9.8% in the 2nd quarter. FMR LLC now owns 11,749,721 shares of the real estate investment trust’s stock valued at $448,956,000 after buying an additional 1,049,842 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Douglas Emmett by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,582,021 shares of the real estate investment trust’s stock valued at $289,711,000 after buying an additional 863,062 shares during the period. Balyasny Asset Management LLC lifted its holdings in shares of Douglas Emmett by 476.6% in the 2nd quarter. Balyasny Asset Management LLC now owns 835,184 shares of the real estate investment trust’s stock valued at $31,912,000 after buying an additional 690,349 shares during the period. American Century Companies Inc. acquired a new position in shares of Douglas Emmett in the 2nd quarter valued at about $25,319,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Douglas Emmett by 272.9% in the 2nd quarter. Renaissance Technologies LLC now owns 885,000 shares of the real estate investment trust’s stock valued at $33,816,000 after buying an additional 647,700 shares during the period. 96.08% of the stock is owned by institutional investors and hedge funds.
Douglas Emmett (NYSE DEI) traded down 1.197% during mid-day trading on Friday, reaching $40.035. The company had a trading volume of 114,296 shares. The stock’s 50-day moving average price is $39.52 and its 200 day moving average price is $38.62. Douglas Emmett has a 52 week low of $33.78 and a 52 week high of $41.12. The firm has a market capitalization of $6.52 billion, a PE ratio of 68.436 and a beta of 0.70.
The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.27%. Douglas Emmett’s dividend payout ratio is currently 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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