FY2024 EPS Estimates for Douglas Emmett Boosted by Wedbush

Douglas Emmett, Inc. (NYSE:DEI) – Equities researchers at Wedbush raised their FY2024 EPS estimates for shares of Douglas Emmett in a research report issued on Wednesday, November 13th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $1.71 for the year, up from their prior forecast of $1.67. The consensus estimate for Douglas Emmett’s current full-year earnings is $1.70 per share.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.38). Douglas Emmett had a negative net margin of 1.68% and a negative return on equity of 0.43%. The firm had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. During the same quarter last year, the firm earned $0.45 EPS. The company’s revenue was down 1.8% on a year-over-year basis.

Several other research firms also recently commented on DEI. JPMorgan Chase & Co. raised their price target on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Scotiabank raised shares of Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $16.00 to $21.00 in a research note on Thursday. Wells Fargo & Company boosted their price target on Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Evercore ISI raised their price objective on Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.43.

Douglas Emmett Price Performance

Shares of DEI stock opened at $18.38 on Friday. The stock has a 50 day moving average price of $17.74 and a 200 day moving average price of $15.52. Douglas Emmett has a 52-week low of $11.08 and a 52-week high of $19.59. The company has a debt-to-equity ratio of 1.51, a quick ratio of 5.11 and a current ratio of 4.09. The firm has a market capitalization of $3.08 billion, a P/E ratio of -183.90 and a beta of 1.10.

Institutional Investors Weigh In On Douglas Emmett

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC purchased a new position in Douglas Emmett during the 2nd quarter worth approximately $32,000. Venturi Wealth Management LLC purchased a new position in shares of Douglas Emmett during the third quarter worth $48,000. Blue Trust Inc. lifted its position in Douglas Emmett by 1,081.5% during the third quarter. Blue Trust Inc. now owns 3,710 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 3,396 shares during the period. GAMMA Investing LLC lifted its position in Douglas Emmett by 44.6% during the third quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 1,175 shares during the period. Finally, Raleigh Capital Management Inc. boosted its holdings in Douglas Emmett by 62.0% in the third quarter. Raleigh Capital Management Inc. now owns 3,856 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 1,476 shares during the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

Douglas Emmett Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were paid a $0.19 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 4.13%. Douglas Emmett’s dividend payout ratio (DPR) is -760.00%.

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.