Douglas Emmett (DEI) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.46 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.45. The company posted revenue of $187.22 million in the period, compared to analysts expectations of $181.73 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Many Wall Street Analysts have commented on Douglas Emmett. Robert W. Baird Initiated Douglas Emmett on Jun 30, 2016 to “Outperform”, Price Target of the shares are set at $39.Company shares were Reiterated by Stifel on May 6, 2016 to “Sell”, Firm has raised the Price Target to $ 30 from a previous price target of $23.50 .
Douglas Emmett opened for trading at $37.34 and hit $38.25 on the upside on Friday, eventually ending the session at $38.04, with a gain of 1.63% or 0.61 points. The heightened volatility saw the trading volume jump to 7,69,459 shares. Company has a market cap of $5,622 M.
In a different news, on Jul 25, 2016, Dan A Emmett (Chairman of the Board) sold 140,000 shares at $36.72 per share price.
Douglas Emmett Inc. is a self-administered and self-managed Real Estate Investment Trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: Office Properties and Multifamily Properties. The Office Properties segment products include rental of office space and other tenant services including parking and storage space rental. The Multifamily Properties segment products include rental of apartments and other tenant services including parking and storage space rental. The Company owned a consolidated portfolio of approximately 53 office properties and approximately 10 multifamily properties. Its properties are located in the Brentwood Olympic Corridor Century City Beverly Hills Santa Monica Westwood Sherman Oaks/Encino Warner Center/Woodland Hills and Burbank submarkets of Los Angeles County California and in Honolulu Hawaii.