8-K
filed February 6, 2024, 6:59 PM ET
ticker DEI
CIK 0001364250
earnings
confidence high
sentiment negative
materiality 0.75
Douglas Emmett reports Q4 net loss of $40.5M; 2024 FFO guidance below 2023 level
Douglas Emmett Inc
2023-FY EPS reported
-$0.26
revenue$1,020,488,000
- Q4 2023 net loss $40.5M ($0.24 per diluted share) vs net income $24.3M a year ago.
- Revenue up 2.0% to $259.3M; FFO down 12.0% to $92.9M ($0.46 per share).
- Full-year 2023 net loss $42.7M ($0.26 per share); FFO $377.3M ($1.86 per share).
- Office leasing 3.2M sq ft in 2023; post-quarter signed 250k sq ft renewal in Beverly Hills.
- 2024 guidance: EPS $0.04-0.10, FFO per share $1.64-1.70, citing tenant move-out and higher interest.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Douglas Emmett Inc updated its 2024 guidance (initiated).
- Period
- 2024
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
We expect our 2024 Net Income Per Common Share - Diluted to be between $0.04 and $0.10, and our FFO per fully diluted share to be between $1.64 and $1.70.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Douglas Emmett Inc reported quarter ended December 31, 2023 results: revenue $259.3 million, net income $40.5 million, EPS $0.24 per diluted share.
- Period
- quarter ended December 31, 2023
- Revenue
- $259.3 million
- Net income
- $40.5 million
- EPS
- $0.24 per diluted share
- Result
- reported results
Exact text from the filing
of Los Angeles and Honolulu. Quarterly Results: For the quarter ended December 31, 2023 compared to the quarter ended December 31, 2022: • Our revenues increased by 2.0% to $259.3 million, driven partly from higher multifamily revenues and a ground rent reset which resulted in a one-time payment of accumulated back rent of approximately $5.5 million recorded in
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Douglas Emmett Inc reported year ended December 31, 2023 results: revenue $1.02 billion, net income $42.7 million, EPS $0.26 per diluted share.
- Period
- year ended December 31, 2023
- Revenue
- $1.02 billion
- Net income
- $42.7 million
- EPS
- $0.26 per diluted share
- Result
- reported results
Exact text from the filing
NOI growth would have been negative 0.6%. Annual Results: For the year ended December 31, 2023 compared to the year ended December 31, 2022: • Our revenues increased by 2.7% to $1.02 billion. • Our net income attri butable to common stockholders decreased by 144.0% to a net loss of $42.7 million, or a net loss of $0.26 per diluted share. • Our FFO decreased by 10.1%
View on SEC.gov
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