Douglas Emmett Q3 revenue down 1.8% to $250.8M; FFO down 3.8%

Douglas Emmett Inc

2024-Q3 EPS reported $0.14 revenue$741,499,000

Net income attributable to common stockholders of $4.6M ($0.03/diluted share), up 134.6% YoY.
FFO down 3.8% to $86.0M ($0.43/diluted share); AFFO up 0.2% to $68.8M.
Same property Cash NOI fell 5.7% to $139.4M on lower office NOI; multifamily growth offset partially.
Portfolio leased rate up 50 bps to 82%; signed 236 office leases covering 1,003,000 sq ft; multifamily 99.1% leased.
FY2024 FFO guidance raised to $1.69-$1.73 per diluted share; net income guidance $0.10-$0.14 per share.

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