Douglas Emmett (NYSE:DEI) Issues FY24 Earnings Guidance

Douglas Emmett (NYSE:DEI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.64-$1.70 for the period, compared to the consensus EPS estimate of $1.67.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price objective on Douglas Emmett from $17.00 to $15.00 and set a neutral rating for the company in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $13.67.

Douglas Emmett Stock Up 1.7 %

DEI stock traded up $0.24 during mid-day trading on Thursday, reaching $14.17. 1,595,966 shares of the company traded hands, compared to its average volume of 1,858,693. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -53.58 and a beta of 1.05. Douglas Emmett has a fifty-two week low of $10.09 and a fifty-two week high of $16.12. The firm’s 50 day moving average price is $13.46 and its 200 day moving average price is $13.38. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 1.44.

Douglas Emmett Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, March 28th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.76 annualized dividend and a yield of 5.36%. Douglas Emmett’s dividend payout ratio (DPR) is currently -292.31%.

Douglas Emmett Company Profile

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.