$192.24 Million in Sales Expected for Douglas Emmett, Inc. (DEI) This Quarter
Wall Street analysts expect that Douglas Emmett, Inc. (NYSE:DEI) will report sales of $192.24 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Douglas Emmett’s earnings. The highest sales estimate is $207.89 million and the lowest is $175.73 million. Douglas Emmett posted sales of $192.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.1%. 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 sales of $192.24 million for the current fiscal year, with estimates ranging from $698.86 million to $814.69 million. For the next fiscal year, analysts expect that the business will report sales of $813.42 million per share, with estimates ranging from $730.84 million to $874.92 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow 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 analysts’ consensus estimates of $0.48 by $0.01. Douglas Emmett had a return on equity of 2.95% and a net margin of 12.00%. The firm had revenue of $199.60 million for the quarter, compared to the consensus estimate of $198.60 million. During the same period in the previous year, the company posted $0.46 EPS. Douglas Emmett’s quarterly revenue was up 6.6% compared to the same quarter last year.
Several research analysts have commented on DEI shares. DA Davidson lowered Douglas Emmett from a “buy” rating to a “neutral” rating and cut their price objective for the company from $45.00 to $43.00 in a research report on Thursday, May 18th. Barclays PLC cut their price objective on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 18th. Zacks Investment Research raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Tuesday, July 18th. BidaskClub raised Douglas Emmett from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, BMO Capital Markets reissued a “hold” rating and issued a $39.00 price objective on shares of Douglas Emmett in a research report on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $39.56.
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Douglas Emmett (DEI) traded up 1.48% during trading on Friday, hitting $38.45. The stock had a trading volume of 784,320 shares. The firm has a 50 day moving average of $37.93 and a 200-day moving average of $38.50. Douglas Emmett has a one year low of $33.78 and a one year high of $40.79. The company has a market cap of $6.26 billion, a P/E ratio of 65.73 and a beta of 0.69.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $38.97, for a total transaction of $3,897,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 300,000 shares of company stock valued at $11,490,000 over the last 90 days. Insiders own 17.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC increased its stake in shares of Douglas Emmett by 30.1% in the fourth quarter. Teachers Advisors LLC now owns 193,619 shares of the real estate investment trust’s stock valued at $7,079,000 after buying an additional 44,783 shares in the last quarter. Bank of Montreal Can increased its position in Douglas Emmett by 59.3% in the first quarter. Bank of Montreal Can now owns 204,989 shares of the real estate investment trust’s stock worth $7,872,000 after buying an additional 76,305 shares during the period. Capstone Asset Management Co. increased its position in Douglas Emmett by 3.1% in the first quarter. Capstone Asset Management Co. now owns 11,248 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 340 shares during the period. Retirement Systems of Alabama increased its position in Douglas Emmett by 1.0% in the first quarter. Retirement Systems of Alabama now owns 187,764 shares of the real estate investment trust’s stock worth $7,210,000 after buying an additional 1,874 shares during the period. Finally, Profund Advisors LLC increased its position in Douglas Emmett by 6.5% in the first quarter. Profund Advisors LLC now owns 24,623 shares of the real estate investment trust’s stock worth $946,000 after buying an additional 1,508 shares during the period. Institutional investors own 96.16% of the company’s stock.
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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