$196.01 Million in Sales Expected for Douglas Emmett, Inc. (DEI) This Quarter
Equities research analysts predict that Douglas Emmett, Inc. (NYSE:DEI) will report sales of $196.01 million for the current quarter, according to Zacks. Six analysts have made estimates for Douglas Emmett’s earnings, with the highest sales estimate coming in at $207.89 million and the lowest estimate coming in at $175.73 million. Douglas Emmett reported sales of $192.12 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The firm is expected to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that Douglas Emmett will report full year sales of $196.01 million for the current year, with estimates ranging from $698.86 million to $814.69 million. For the next financial year, analysts expect that the business will post sales of $820.45 million per share, with estimates ranging from $730.84 million to $874.92 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Douglas Emmett.
Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $199.60 million during 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 business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS.
A number of brokerages recently commented on DEI. BidaskClub cut shares of Douglas Emmett from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Barclays PLC reduced their price target on shares of Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, July 18th. Stifel Nicolaus upgraded shares of Douglas Emmett from a “hold” rating to a “buy” rating and increased their price target for the company from $38.00 to $42.00 in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Janney Montgomery Scott began coverage on shares of Douglas Emmett in a research note on Friday, September 8th. They set a “neutral” rating for the company. Finally, KeyCorp reissued a “hold” rating on shares of Douglas Emmett in a research note on Sunday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.56.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $37.96, for a total value of $3,796,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 300,000 shares of company stock worth $11,492,000. Insiders own 17.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in shares of Douglas Emmett by 9.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 299 shares during the period. Virtu KCG Holdings LLC purchased a new position in shares of Douglas Emmett in the 2nd quarter worth $206,000. Clinton Group Inc. purchased a new position in shares of Douglas Emmett in the 1st quarter worth $222,000. Riverhead Capital Management LLC raised its position in shares of Douglas Emmett by 68.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 2,520 shares during the period. Finally, TLP Group LLC purchased a new position in shares of Douglas Emmett in the 2nd quarter worth $248,000. 96.15% of the stock is currently owned by institutional investors.
Shares of Douglas Emmett (NYSE DEI) opened at 39.56 on Tuesday. The firm’s 50-day moving average is $38.64 and its 200 day moving average is $38.42. The firm has a market cap of $6.44 billion, a PE ratio of 67.62 and a beta of 0.70. Douglas Emmett has a 52 week low of $33.78 and a 52 week high of $40.79.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.92 annualized dividend and a yield of 2.33%. Douglas Emmett’s dividend payout ratio (DPR) is presently 155.93%.
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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