Douglas Emmett (DEI) came out with quarterly funds from operations (FFO) of $0.45 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to FFO of $0.47 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 4.65%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.44 per share when it actually produced FFO of $0.46, delivering a surprise of 4.55%.Over the last four quarte ...

Executive Summary We own and operate 18.0 million square feet of Class A office properties and 4,528 apartment units (excluding our residential development pipeline and the vacated Barrington Plaza units) in the premier coastal submarkets of Los Angeles and Honolulu. Quarterly Results: For the quarter ended March 31, 2024 compared to the quarter ended March 31, 2023: Leasing: During the first quarter, we signed 214 office leases covering 1.2 million square feet, including 202,000 square feet of new leases a ...

SANTA MONICA, Calif.--(BUSINESS WIRE)--Douglas Emmett, Inc. (NYSE: DEI), a real estate investment trust (REIT), announced today that President and CEO Jordan L. Kaplan will be participating in a roundtable discussion at the 2024 Citi Global Property CEO Conference on Tuesday, March 5, 2024 at 11:00 am Eastern Time. A live webcast of the discussion will be available at: https://kvgo.com/2024-global-property-ceo-conference/douglas-emmett-march A replay of the discussion will be available on the same URL sta ...

kenny hung photography/Moment via Getty Images Douglas Emmett (NYSE:DEI) is a sparingly covered REIT that owns a portfolio of Class-A office space as well as a large complement of multifamily apartment units. The latter exposure provides a notable hedge against the downside risks relating to the company's office holdings. I last covered DEI in late 2022. I viewed shares bullishly due in part to the strong leasing momentum at the time and the defensive nature of their multifamily portfolio. I also cited the ...

(Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number: 1-33106 Douglas Emmett, Inc. (State or other jurisdiction of incorporation or or ...

Financial Data and Key Metrics Changes - Revenue increased by 2% compared to Q4 2022, partly due to higher multifamily revenues and ground rent [83] - FFO decreased by 12% to $0.46 per share, primarily due to higher interest expenses [84] - AFFO decreased by 8.1% to $74.6 million [84] - Same-property cash NOI decreased by 1.1%, but adjusting for one-time tax refunds, residential cash same-property NOI would have been positive 3.3% [84] Business Line Data and Key Metrics Changes - In 2023, the company signed 872 office leases totaling 3.2 million square feet, averaging 800,000 square feet per quarter [78] - In Q4, 2023, 202 office leases were signed covering 710,000 square feet, including 243,000 square feet of new leases and 467,000 square feet of renewals [78] - Cash spreads were down 6.1%, reflecting strong annual rent increases built into leases [79] - Residential properties ended the year at 98.5% leased [80] Market Data and Key Metrics Changes - The company noted that remote work has not significantly reduced demand from tenants [72] - The overall leasing environment remains cautious due to recession fears, impacting large tenant commitments [58][60] Company Strategy and Development Direction - The company is focused on finding new opportunities in both residential and office markets, leveraging significant cash on hand and strong JV relationships [76] - The company anticipates lower FFO in 2024 due to the move out of a large tenant and higher interest costs, but sees potential for recovery in leasing demand as tenant confidence increases [72][86] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term market prospects, citing a strong supply-demand dynamic and the return of office tenants [74][61] - The company expects that as interest rates stabilize, tenant interest will return, leading to improved leasing activity [60][61] Other Important Information - The company completed the lease-up of its 376-unit Landmark L.A. property and is progressing on an office-to-residential conversion in Honolulu [76] - A significant tenant signed an early renewal for 250,000 square feet shortly after the quarter end [72] Q&A Session Summary Question: How are you thinking about interest rates in the next year or two? - Management indicated that they typically do a seven-year loan and swap five years of it, focusing on refinancing as swaps come due [89] Question: Can you provide an update on Barrington Plaza's insurance proceeds and litigation? - Management stated that they feel the property is insured and are dealing with ongoing litigation, which is disruptive but insured [95] Question: What are your thoughts on leasing trends and tenant commitments? - Management noted that large tenants are hesitant to make commitments, while smaller tenants are more active [58][60]

EARNINGS RESULTS & OPERATING INFORMATION FOURTH QUARTER 2023 We own and operate 18.0 million square feet of Class A office properties and 4,576 apartment units (excluding our residential development pipeline and the vacated Barrington Plaza units) in the premier coastal submarkets of Los Angeles and Honolulu. • Our same property Cash NOI decreased by 1.1% to $153.1 million, driven by comparison to a strong prior period that benefited from one-time tax refunds on our residential portfolio. Adjusting for thos ...

Douglas Emmett (DEI) reported $212.33 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.2%. EPS of $0.46 for the same period compares to $0.14 a year ago.The reported revenue represents a surprise of -16.24% over the Zacks Consensus Estimate of $253.5 million. With the consensus EPS estimate being $0.44, the EPS surprise was +4.55%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to det ...

United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number: 001-33106 Douglas Emmett, Inc. (Exact name of registrant as specified in its charter) Maryland 20-3073047 (State or other juri ...

Douglas Emmett, Inc. (NYSE:DEI) Q3 2023 Results Conference Call November 1, 2023 2:00 PM ET Company Participants Stuart McElhinney - VP, IR Jordan Kaplan - President, CEO Peter Seymour - CFO Kevin Crummy - CIO Conference Call Participants Alexander Goldfarb - Piper Sandler Blaine Heck - Wells Fargo Dylan Burzinski - Green Street Camille Bonnel - Bank of America John Kim - BMO Michael Griffin - Citi Steve Sakwa - Evercore Upal Rana - KeyBanc Bill Crow - Raymond James Rich Anderson - Wedbush Operator Ladies ...