Brokerages forecast that Douglas Emmett, Inc. (NYSE:DEI) will announce $224.13 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Douglas Emmett’s earnings. The highest sales estimate is $229.04 million and the lowest is $218.35 million. Douglas Emmett reported sales of $209.19 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.1%. The business is scheduled to issue its next earnings report on Tuesday, February 12th.
On average, analysts expect that Douglas Emmett will report full-year sales of $879.16 million for the current fiscal year, with estimates ranging from $873.38 million to $884.07 million. For the next financial year, analysts expect that the company will report sales of $914.80 million, with estimates ranging from $902.49 million to $933.01 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Douglas Emmett.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.33). Douglas Emmett had a net margin of 14.32% and a return on equity of 3.06%. The firm had revenue of $223.30 million for the quarter, compared to analyst estimates of $222.50 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis.
A number of research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Douglas Emmett from $38.00 to $39.00 and gave the company an “underweight” rating in a research report on Thursday, August 30th. Bank of America boosted their price objective on shares of Douglas Emmett from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Zacks Investment Research raised shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, October 3rd. Scotiabank initiated coverage on shares of Douglas Emmett in a report on Tuesday, October 16th. They set an “outperform” rating for the company. Finally, TheStreet lowered shares of Douglas Emmett from a “b-” rating to a “c+” rating in a research report on Monday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.45.
Institutional investors have recently made changes to their positions in the company. Cbre Clarion Securities LLC boosted its stake in shares of Douglas Emmett by 226.1% during the 2nd quarter. Cbre Clarion Securities LLC now owns 6,615,753 shares of the real estate investment trust’s stock worth $265,821,000 after acquiring an additional 4,587,109 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Douglas Emmett during the 2nd quarter worth $165,000. Signition LP acquired a new stake in shares of Douglas Emmett in the 3rd quarter valued at about $266,000. Virginia Retirement Systems ET AL increased its position in shares of Douglas Emmett by 53.1% in the third quarter. Virginia Retirement Systems ET AL now owns 280,400 shares of the real estate investment trust’s stock valued at $10,577,000 after acquiring an additional 97,200 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Douglas Emmett by 53.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,290 shares of the real estate investment trust’s stock worth $2,623,000 after purchasing an additional 22,605 shares during the period. 92.38% of the stock is currently owned by institutional investors.
DEI stock opened at $36.80 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.05. Douglas Emmett has a 1 year low of $34.72 and a 1 year high of $41.59. The stock has a market cap of $6.17 billion, a PE ratio of 19.37, a P/E/G ratio of 2.71 and a beta of 0.62.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from Douglas Emmett’s previous quarterly dividend of $0.25. Douglas Emmett’s payout ratio is 52.63%.
About Douglas Emmett
Douglas Emmett, Inc (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities.
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