Douglas Emmett, Inc. (NYSE:DEI) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.88-1.94 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.90.
Shares of Douglas Emmett, Inc. (NYSE:DEI) opened at 38.68 on Thursday. Douglas Emmett, Inc. has a 52-week low of $24.73 and a 52-week high of $39.25. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 74.24 and a beta of 0.76. The stock has a 50 day moving average of $37.12 and a 200 day moving average of $36.79.
Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, February 7th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.36. Douglas Emmett had a net margin of 11.27% and a return on equity of 3.04%. The business earned $194.64 million during the quarter, compared to analysts’ expectations of $192.10 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. On average, analysts predict that Douglas Emmett, Inc. will post $0.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 28th. This is a boost from Douglas Emmett’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.38%. Douglas Emmett’s dividend payout ratio (DPR) is currently 176.93%.
Several equities research analysts have issued reports on DEI shares. J P Morgan Chase & Co downgraded Douglas Emmett from an overweight rating to a neutral rating and set a $38.00 price target for the company. in a report on Friday, December 16th. Zacks Investment Research raised Douglas Emmett from a hold rating to a buy rating and set a $42.00 price target for the company in a report on Wednesday, December 7th. Wells Fargo & Company set a $40.00 price target on Douglas Emmett and gave the company a buy rating in a report on Wednesday, November 30th. BMO Capital Markets reaffirmed a hold rating and set a $37.00 price target on shares of Douglas Emmett in a report on Wednesday. Finally, Stifel Nicolaus raised Douglas Emmett from a sell rating to a hold rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $36.54.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $37.16, for a total value of $3,716,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Dan A. Emmett sold 117,288 shares of the business’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $36.90, for a total value of $4,327,927.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 357,288 shares of company stock valued at $13,026,527. 23.00% of the stock is owned by insiders.
Douglas Emmett Company Profile
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate.