Douglas Emmett (NYSE:DEI) Issues FY24 Earnings Guidance

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

Douglas Emmett Stock Performance

Shares of DEI traded down $0.17 during midday trading on Friday, reaching $14.00. 423,774 shares of the stock were exchanged, compared to its average volume of 1,842,800. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 1.44. The stock’s 50 day simple moving average is $13.48 and its 200 day simple moving average is $13.38. Douglas Emmett has a twelve month low of $10.09 and a twelve month high of $16.12. The company has a market cap of $2.34 billion, a P/E ratio of -54.50 and a beta of 1.05.

Douglas Emmett Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders 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 5.43%. Douglas Emmett’s payout ratio is presently -292.31%.

Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on shares of Douglas Emmett from $17.00 to $15.00 and set a neutral rating on the stock in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average 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.