Douglas Emmett, Inc. (DEI) Expected to Announce Quarterly Sales of $199.83 Million
Wall Street brokerages predict that Douglas Emmett, Inc. (NYSE:DEI) will post sales of $199.83 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Douglas Emmett’s earnings, with the highest sales estimate coming in at $212.69 million and the lowest estimate coming in at $179.65 million. Douglas Emmett posted sales of $194.64 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that Douglas Emmett will report full-year sales of $199.83 million for the current year, with estimates ranging from $696.24 million to $814.69 million. For the next year, analysts expect that the firm will report sales of $823.91 million per share, with estimates ranging from $738.39 million to $874.92 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Douglas Emmett.
Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The company had revenue of $208.75 million for the quarter, compared to the consensus estimate of $203.99 million. Douglas Emmett had a return on equity of 2.58% and a net margin of 11.29%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share.
A number of brokerages have issued reports on DEI. Robert W. Baird upped their price objective on Douglas Emmett from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $43.00 price objective (up from $42.00) on shares of Douglas Emmett in a research report on Thursday. BidaskClub downgraded Douglas Emmett from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Douglas Emmett in a research note on Sunday, September 24th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.60.
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In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $38.99, for a total transaction of $3,899,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.80% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Douglas Emmett by 9.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 299 shares during the last quarter. Advisor Group Inc. raised its stake in Douglas Emmett by 451.6% in the 3rd quarter. Advisor Group Inc. now owns 4,065 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 3,328 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in Douglas Emmett in the 2nd quarter worth $206,000. CIBC Asset Management Inc purchased a new position in Douglas Emmett in the 3rd quarter worth $206,000. Finally, Timber Hill LLC purchased a new position in Douglas Emmett in the 3rd quarter worth $206,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Shares of Douglas Emmett (NYSE DEI) opened at $40.13 on Friday. Douglas Emmett has a 52-week low of $33.78 and a 52-week high of $41.12. The stock has a market capitalization of $6,794.57, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 3.21 and a beta of 0.72.
The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.29%. Douglas Emmett’s dividend payout ratio is currently 173.59%.
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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