Douglas Emmett, Inc. (NYSE:DEI) Issues FY17 Earnings Guidance
Douglas Emmett, Inc. (NYSE:DEI) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.89-1.93 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.92.
Shares of Douglas Emmett, Inc. (NYSE:DEI) traded down 0.13% during mid-day trading on Friday, reaching $37.53. 546,632 shares of the company’s stock traded hands. The firm has a 50-day moving average of $38.01 and a 200 day moving average of $38.48. Douglas Emmett, Inc. has a 12-month low of $33.78 and a 12-month high of $40.79. The company has a market cap of $5.85 billion, a P/E ratio of 64.15 and a beta of 0.69.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $199.60 million for the quarter, compared to the consensus estimate of $198.60 million. Douglas Emmett had a return on equity of 2.95% and a net margin of 12.00%. Douglas Emmett’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Equities analysts forecast that Douglas Emmett, Inc. will post $0.56 EPS for the current year.
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 was Wednesday, June 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.45%. Douglas Emmett’s dividend payout ratio is presently 155.93%.
DEI has been the subject of a number of research reports. Barclays PLC increased their target price on shares of Douglas Emmett from $35.00 to $36.00 and gave the stock an underweight rating in a research report on Wednesday, April 19th. Zacks Investment Research lowered shares of Douglas Emmett from a buy rating to a hold rating in a research report on Monday, May 8th. DA Davidson lowered shares of Douglas Emmett from a buy rating to a neutral rating and cut their target price for the stock from $45.00 to $43.00 in a research report on Thursday, May 18th. BidaskClub upgraded shares of Douglas Emmett from a sell rating to a hold rating in a research report on Thursday, June 15th. Finally, BMO Capital Markets restated a hold rating and issued a $39.00 price objective on shares of Douglas Emmett in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Douglas Emmett presently has a consensus rating of Hold and a consensus target price of $39.56.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $38.97, for a total value of $3,897,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 300,000 shares of company stock valued at $11,487,000 over the last 90 days. 17.80% of the stock is owned by company insiders.
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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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