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Douglas Emmett (DEI)
NYSE:DEI
Earnings Data
Report Date
May 05, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.05Last Year’s EPS
0.24Same Quarter Last Year
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mix of operational momentum and near-term financial headwinds. Highlights include strong leasing activity (104k sq ft positive absorption in Q4; 3.4M sf leased in 2025), robust multifamily performance (+~5% same-property cash NOI; full occupancy), active development pipeline and strategic acquisitions (10900 Wilshire, Landmark Residences, Studio Plaza conversion), and successful capital markets execution (nearly $2B in debt transactions, $1.66B refinanced). Offsetting these positives are rising interest expense that pressured FFO/AFFO (FFO down to $0.35/share; AFFO $53M), a 1.4% decline in same-property cash NOI for the quarter driven by higher office operating expenses, and cautious 2026 guidance (net income guidance negative and FFO guided to $1.39–$1.45) that assumes no occupancy growth. Management emphasizes balance sheet prudence, preference for JV-backed acquisitions over share buybacks, and the impact of seasonality and regulatory/political costs. Overall, operational gains and a sizeable development/acquisition pipeline are balanced by near-term financing and expense pressures.Company Guidance
Positive Office Absorption and Strong Leasing Activity
Achieved positive net office absorption of approximately 104,000 square feet in Q4; signed 224 office leases covering 906,000 square feet in the quarter (274,000 sf new leases, 632,000 sf renewals). For all of 2025 signed 896 office leases totaling 3.4 million square feet. New leasing comprised roughly 30% of activity in the quarter, and expansions outpaced contractions.
Multifamily Outperformance
Multifamily portfolio reached essentially full occupancy with same-property cash NOI up ~5% year-over-year in Q4; strong demand and rising rents drove positive multifamily results.
Improving Leasing Economics
Straight-line lease value increased by 2% over the life of leases executed in the quarter; contractual rent bumps of 3%-5% annually help preserve cash flow; beginning cash rent on new leases was 10% lower than prior leases but higher-value new leases executed. Q4 office leasing costs were low at about $5.76 per square foot per year, below benchmark peers.
Active Development and Pipeline
Acquired 10900 Wilshire and planning conversion to high-end mixed-use (200 apartments + additional units); started construction on the Landmark Residences redevelopment and conversion projects (Studio Plaza and Brentwood redevelopment underway). Management noted additional residential development planning for multiple Westside sites (typical project size ~300–500 units) and previously disclosed a large developable apartment pipeline (~9,000 potential units).
Capital Markets Execution and Balance Sheet Actions
Successfully executed nearly $2 billion of debt transactions and refinanced over $1.66 billion of loans during 2025. One consolidated JV reduced debt by $60 million and fixed ~$565 million at 4.79% (effective through Nov 2027, loan matures Aug 2028). Closed a non-recourse construction loan up to $375 million (Brentwood), drew $49.5 million as of Dec 31, 2025; entered accreting swaps to effectively fix ~75% of the construction loan exposure at ~5.8% through Jan 2030.
Full-Year Operational Improvement
By focusing on revenue growth and expense control, the company achieved positive same-property cash NOI for the full year 2025. G&A remains low at approximately 4.9% of revenue, supporting operating efficiency.
Market Diversification and Local Strength
Leasing demand was broad-based across tenant industries (financial services, legal, health services, education, real estate) with no single segment >20% of demand. Honolulu and other markets showed positive momentum, and management highlighted favorable long-term fundamentals in core submarkets (Westside, Brentwood, Burbank).
DEI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DEI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | $10.61 | $10.27 | -3.20% |
Nov 04, 2025 | $12.84 | $12.23 | -4.75% |
Aug 05, 2025 | $14.94 | $14.50 | -2.91% |
May 06, 2025 | $13.68 | $14.14 | +3.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Douglas Emmett (DEI) report earnings?
Douglas Emmett (DEI) is schdueled to report earning on May 05, 2026, After Close (Confirmed).
What is Douglas Emmett (DEI) earnings time?
Douglas Emmett (DEI) earnings time is at May 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DEI EPS forecast?
DEI EPS forecast for the fiscal quarter 2026 (Q1) is -0.05.