Douglas Emmett (DEI)
NYSE:DEI
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Douglas Emmett
(NYSE:DEI)
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Rating:54Neutral
Price Target:
$12.00
▲(28.48% Upside)
Action:Reiterated
Date:06/04/26
The score is held back primarily by weak financial performance and balance-sheet risk (net losses and elevated leverage), partially offset by solid cash generation. Technicals are moderately supportive with price above key moving averages and positive MACD. Valuation is mixed: a high dividend yield helps, but the negative P/E reflects ongoing earnings pressure. Earnings call commentary adds some support via leasing and residential strength, but guidance highlights interest-expense headwinds and limited near-term FFO upside.
Positive Factors
Solid cash generation and positive free cash flow
Consistent operating cash flow (~$371M TTM) and positive free cash flow (~$163M TTM) provide durable funding for dividends, capex and debt service. This cash-generation cushion supports operations through cyclical office headwinds and gives flexibility for strategic investments and selective acquisitions.
Negative Factors
Elevated and rising leverage
A higher debt-to-equity ratio (~3.0x TTM) and a shrinking equity cushion increase refinancing and solvency risk. Elevated leverage reduces financial flexibility, magnifies interest-cost sensitivity, and limits the company's ability to absorb further operating shocks or fund large redevelopments without external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Solid cash generation and positive free cash flow
Consistent operating cash flow (~$371M TTM) and positive free cash flow (~$163M TTM) provide durable funding for dividends, capex and debt service. This cash-generation cushion supports operations through cyclical office headwinds and gives flexibility for strategic investments and selective acquisitions.
Read all positive factors
Douglas Emmett Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down rental and related income across segments so you can see where the company earns most of its money. Shifts in revenue mix highlight growth opportunities or concentration risks tied to specific property types or markets.
Breaks down rental and related income across segments so you can see where the company earns most of its money. Shifts in revenue mix highlight growth opportunities or concentration risks tied to specific property types or markets.
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The Fly
The FlyDouglas Emmett (DEI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.06B
Dividend Yield6.45%
Average Volume (3M)2.25M
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth1.04%
EPS Growth-152.10%
CountryUS
Employees770
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)-0.16
Shares Outstanding167,485,260
10 Day Avg. Volume2,067,206
30 Day Avg. Volume2,252,821
Financial Highlights & Ratios
PEG Ratio-4.47
Price to Book (P/B)0.97
Price to Sales (P/S)1.83
P/FCF Ratio9.46
Enterprise Value/Market Cap3.48
Enterprise Value/Revenue7.15
Enterprise Value/Gross Profit29.55
Enterprise Value/Ebitda11.94
Forecast
1Y Price Target
$13.14Price Target Upside40.72% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)-0.14
Revenue Forecast (FY)$1.01B
Douglas Emmett Business Overview & Revenue Model
Company Description
Douglas Emmett, Inc. (DEI) functions as a self-sufficient and comprehensive real estate investment trust (REIT). The company is a significant proprietor and manager of premium office buildings and residential complexes, primarily situated in the p...
How the Company Makes Money
Douglas Emmett makes money primarily by generating recurring rental income from leasing space in its office and retail properties. Its key revenue streams typically include: (1) base rent paid under office and retail leases; (2) expense recoveries...
Douglas Emmett Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Neutral
The call presented strong operational momentum—record leasing, positive absorption, residential NOI growth, strategic acquisitions (Bedford), and redevelopment progress—indicating improving demand and attractive long-term opportunities. However, near-term financial performance is constrained by higher interest expense, lower cash spreads, a modest decline in same-property cash NOI, flat revenue, and a signed-not-commenced occupancy lag. Management is optimistic but appropriately cautious about declaring a durable bottom.Positive Updates
Record Leasing Volume and Positive Absorption
Signed 218 office leases totaling 909,000 sq ft in Q1, including a single-quarter record of 461,000 sq ft of new leases and 448,000 sq ft of renewals; approximately 100,000 sq ft of positive absorption for the second consecutive quarter.
Negative Updates
FFO / AFFO and Earnings Pressure
FFO decreased to $0.37 per share and AFFO decreased to $49 million in Q1, driven primarily by higher interest expense and lower interest income despite strong multifamily performance.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Leasing Volume and Positive Absorption
Signed 218 office leases totaling 909,000 sq ft in Q1, including a single-quarter record of 461,000 sq ft of new leases and 448,000 sq ft of renewals; approximately 100,000 sq ft of positive absorption for the second consecutive quarter.
Read all positive updates
Company Guidance
For 2026 management guided diluted net income per common share of negative $0.20 to negative $0.14 and fully diluted FFO per share of $1.39 to $1.45; they said expected FFO gains from the Bedford acquisition will be largely offset by higher assumed interest expense amid a flattening curve, and the guidance excludes the impact of future property acquisitions or dispositions, common stock sales/repurchases, financings, insurance recoveries, impairment charges or other capital markets activity (assumptions are in the earnings‑package schedule). For context, Q1 results included revenue of $251 million, FFO of $0.37 per share, AFFO of $49 million, same‑property cash NOI down 1.4%, and G&A at ~5.4% of revenue.Douglas Emmett Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
38
Negative
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.00B | 1.00B | 986.48M | 1.02B | 993.65M | 918.40M |
| Gross Profit | 242.89M | -161.82M | 636.22M | 198.91M | 659.83M | 615.00M |
| EBITDA | 601.02M | 654.18M | 621.08M | 593.58M | 619.52M | 574.92M |
| Net Income | -26.03M | 16.27M | 23.52M | -42.71M | 97.14M | 65.27M |
Balance Sheet | ||||||
| Total Assets | 9.30B | 9.29B | 9.40B | 9.64B | 9.75B | 9.35B |
| Cash, Cash Equivalents and Short-Term Investments | 357.25M | 340.79M | 444.62M | 523.08M | 268.84M | 335.90M |
| Total Debt | 5.59B | 5.57B | 5.51B | 5.55B | 5.20B | 5.02B |
| Total Liabilities | 5.87B | 5.81B | 5.75B | 5.80B | 5.47B | 5.37B |
| Stockholders Equity | 1.87B | 1.90B | 2.06B | 2.22B | 2.56B | 2.42B |
Cash Flow | ||||||
| Free Cash Flow | 111.15M | 194.46M | 169.30M | 237.81M | 258.77M | 153.86M |
| Operating Cash Flow | 371.15M | 386.85M | 408.69M | 426.96M | 496.89M | 446.95M |
| Investing Cash Flow | -306.21M | -259.94M | -240.76M | -233.59M | -560.95M | -288.71M |
| Financing Cash Flow | -233.39M | -230.74M | -246.46M | 60.87M | -3.00M | 5.25M |
Douglas Emmett Technical Analysis
Positive
9.34
Price Trends
11.17
Positive
10.52
Positive
11.62
Positive
Market Momentum
0.32
Negative
61.85
Neutral
65.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DEI, the sentiment is Positive. The current price of 9.34 is below the 20-day moving average (MA) of 11.84, below the 50-day MA of 11.17, and below the 200-day MA of 11.62, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 61.85 is Neutral, neither overbought nor oversold. The STOCH value of 65.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DEI.
Douglas Emmett Risk Analysis
Douglas Emmett disclosed 51 risk factors in its most recent earnings report. Douglas Emmett reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Douglas Emmett Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $3.34B | 35.13 | 3.94% | 7.83% | 0.88% | -47.90% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $4.77B | -919.47 | -0.11% | 5.08% | 12.11% | -109.72% | |
62 Neutral | $4.54B | 20.72 | 4.05% | 5.75% | -1.42% | 8.81% | |
56 Neutral | $3.95B | -23.86 | -3.89% | 6.95% | 7.65% | -478.02% | |
54 Neutral | $2.06B | -79.00 | -1.35% | 6.45% | 1.04% | -152.10% | |
54 Neutral | $844.52M | -1.83 | -17.20% | ― | -0.88% | 47.15% |
* Real Estate Sector Average
DEI
Douglas Emmett
12.28
-1.82
-12.91%
CUZ
Cousins Properties
29.01
0.10
0.33%
HIW
Highwoods Properties
29.84
0.64
2.20%
HPP
Hudson Pacific Properties
15.29
-3.96
-20.57%
KRC
Kilroy Realty
38.37
4.94
14.77%
SLG
SL Green Realty
51.15
-11.87
-18.83%
Douglas Emmett Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Douglas Emmett Shareholders Approve New Omnibus Stock Plan
Positive
Jun 3, 2026
Douglas Emmett, Inc. held its 2026 Annual Meeting of Stockholders on May 28, 2026, where shareholders approved a new 2026 Omnibus Stock Incentive Plan authorizing awards covering up to 15 million shares of common stock, effectively replacing the c...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Douglas Emmett Adds Independent Director Amid Planned Board Retirement
Neutral
Apr 10, 2026
On April 6, 2026, Douglas Emmett director Leslie E. Bider notified the company that he would retire from the board and not stand for re-election, with his term to end at the conclusion of the annual shareholder meeting scheduled for May 28, 2026, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.