Brokerages expect that Douglas Emmett, Inc. (NYSE:DEI) will post $226.50 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Douglas Emmett’s earnings, with estimates ranging from $221.13 million to $231.04 million. Douglas Emmett posted sales of $212.25 million in the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The company is expected to issue its next earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Douglas Emmett will report full-year sales of $912.78 million for the current financial year, with estimates ranging from $897.07 million to $933.01 million. For the next financial year, analysts expect that the company will post sales of $934.34 million, with estimates ranging from $922.48 million to $944.96 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Douglas Emmett.
Get Douglas Emmett alerts:Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.52. The business had revenue of $226.29 million for the quarter, compared to the consensus estimate of $223.46 million. Douglas Emmett had a return on equity of 2.97% and a net margin of 13.58%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Douglas Emmett from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. JMP Securities reissued a “hold” rating on shares of Douglas Emmett in a research report on Sunday. Raymond James reduced their price target on Douglas Emmett from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, November 5th. Sandler O’Neill raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Thursday, November 15th. Finally, TheStreet downgraded Douglas Emmett from a “b-” rating to a “c+” rating in a research report on Monday, December 3rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.83.
In other Douglas Emmett news, Director William E. Simon, Jr. bought 8,700 shares of Douglas Emmett stock in a transaction on Thursday, December 20th. The shares were purchased at an average price of $34.17 per share, with a total value of $297,279.00. Following the acquisition, the director now owns 18,400 shares in the company, valued at approximately $628,728. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 16.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new stake in shares of Douglas Emmett in the 3rd quarter valued at $141,000. PNC Financial Services Group Inc. lifted its stake in shares of Douglas Emmett by 10.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,595 shares of the real estate investment trust’s stock valued at $192,000 after acquiring an additional 542 shares during the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of Douglas Emmett in the 4th quarter valued at $232,000. Quantamental Technologies LLC bought a new position in shares of Douglas Emmett in the 4th quarter valued at $233,000. Finally, Signition LP bought a new position in shares of Douglas Emmett in the 3rd quarter valued at $266,000. 91.33% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:DEI traded up $0.21 during trading hours on Friday, reaching $38.92. 553,500 shares of the company were exchanged, compared to its average volume of 822,203. The company has a market capitalization of $6.61 billion, a P/E ratio of 19.27, a P/E/G ratio of 2.93 and a beta of 0.79. Douglas Emmett has a 1-year low of $32.32 and a 1-year high of $40.86. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.12 and a quick ratio of 1.96.
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.
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