Zacks: Brokerages Expect Douglas Emmett, Inc. (DEI) to Post $0.51 Earnings Per Share

Wall Street brokerages expect Douglas Emmett, Inc. (NYSE:DEI) to report $0.51 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Douglas Emmett’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.50. Douglas Emmett posted earnings of $0.48 per share in the same quarter last year, which suggests a positive year over year growth rate of 6.3%. The business is scheduled to issue its next earnings results on Tuesday, November 6th.

On average, analysts expect that Douglas Emmett will report full year earnings of $2.01 per share for the current year, with EPS estimates ranging from $1.99 to $2.03. For the next financial year, analysts forecast that the business will post earnings of $2.12 per share, with EPS estimates ranging from $2.09 to $2.17. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Douglas Emmett.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.31). The company had revenue of $219.47 million during the quarter, compared to analyst estimates of $215.12 million. Douglas Emmett had a return on equity of 2.96% and a net margin of 13.94%.

Several analysts recently commented on the stock. Citigroup increased their target price on shares of Douglas Emmett from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of Douglas Emmett from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Mizuho raised shares of Douglas Emmett from a “neutral” rating to a “buy” rating and increased their target price for the company from $39.00 to $44.00 in a research note on Monday, June 18th. Finally, Barclays reissued a “sell” rating and set a $37.00 target price on shares of Douglas Emmett in a research note on Tuesday, April 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.33.

In other Douglas Emmett news, Director William E. Simon, Jr. bought 7,700 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was acquired at an average cost of $38.55 per share, with a total value of $296,835.00. Following the completion of the purchase, the director now directly owns 9,700 shares in the company, valued at $373,935. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 17.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Douglas Emmett by 2.0% during the first quarter. Wells Fargo & Company MN now owns 136,468 shares of the real estate investment trust’s stock valued at $5,018,000 after acquiring an additional 2,713 shares during the period. Northern Trust Corp raised its holdings in shares of Douglas Emmett by 5.3% during the first quarter. Northern Trust Corp now owns 2,155,346 shares of the real estate investment trust’s stock valued at $79,229,000 after acquiring an additional 108,552 shares during the period. Mason Street Advisors LLC raised its holdings in shares of Douglas Emmett by 2.0% during the first quarter. Mason Street Advisors LLC now owns 80,057 shares of the real estate investment trust’s stock valued at $2,943,000 after acquiring an additional 1,549 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Douglas Emmett by 6.5% during the first quarter. New York State Common Retirement Fund now owns 343,500 shares of the real estate investment trust’s stock valued at $12,627,000 after acquiring an additional 21,000 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of Douglas Emmett by 1,984.7% during the first quarter. Nuveen Asset Management LLC now owns 173,111 shares of the real estate investment trust’s stock valued at $6,364,000 after acquiring an additional 164,807 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

Shares of NYSE:DEI traded down $0.41 during trading on Friday, reaching $38.83. The company had a trading volume of 573,316 shares, compared to its average volume of 756,296. The firm has a market cap of $6.67 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.90 and a beta of 0.65. Douglas Emmett has a twelve month low of $34.72 and a twelve month high of $41.59. The company has a current ratio of 2.30, a quick ratio of 2.17 and a debt-to-equity ratio of 1.04.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Friday, June 29th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, June 28th. Douglas Emmett’s dividend payout ratio is presently 52.63%.

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.

Further Reading: Penny Stocks, Risk and Reward Factors

Get a free copy of the Zacks research report on Douglas Emmett (DEI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Douglas Emmett (NYSE:DEI)

Receive News & Ratings for Douglas Emmett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Douglas Emmett and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply