Douglas Emmett (NYSE:DEI) Updates FY24 Earnings Guidance

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

Douglas Emmett Price Performance

NYSE:DEI traded down $0.15 during trading hours on Tuesday, hitting $13.75. The company’s stock had a trading volume of 2,096,751 shares, compared to its average volume of 1,850,887. Douglas Emmett has a 52-week low of $10.09 and a 52-week high of $16.12. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.91 and a current ratio of 4.91. The business’s 50-day moving average is $13.44 and its two-hundred day moving average is $13.37. The company has a market capitalization of $2.30 billion, a PE ratio of -52.88 and a beta of 1.05.

Douglas Emmett Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, March 28th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.53%. Douglas Emmett’s payout ratio is -292.31%.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped 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 assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Douglas Emmett currently has a consensus rating of Hold and a consensus target price of $13.67.

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.