Douglas Emmett Q2 revenue rises slightly, FFO per share flat
Douglas Emmett Q2 revenue rises slightly, FFO per share flat
Overview
US office and apartment REIT's Q2 revenue rose slightly yr/yr, FFO per share was flat
Company acquired Beverly Hills medical office portfolio and signed 960,000 sq ft of new office leases
Office occupancy guidance lowered due to inclusion of lower-occupancy Studio Plaza property
Outlook
Douglas Emmett lowers office occupancy guidance for 2026 to 75%-77% due to Studio Plaza inclusion
Company expects 2026 net loss per common share diluted between $(0.20) and $(0.16)
Douglas Emmett forecasts 2026 FFO per fully diluted share between $1.39 and $1.43
Result Drivers
OFFICE LEASING - Signed 960,000 sq ft of new and renewal office leases, with positive net absorption and new leases at 3.2% higher rents than expiring ones; most financial impact expected over next 12 months
MULTIFAMILY DEMAND - Strong demand and increasing rents drove full occupancy and 2.0% higher same property cash NOI in multifamily segment
PORTFOLIO ACQUISITION - Acquired Beverly Hills medical office portfolio, expanding office holdings
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Dividend |
| $0.19 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 10 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy."
Wall Street's median 12-month price target for Douglas Emmett Inc is $13.00, about 9.2% above its August 3 closing price of $11.90
Reuters Recommended Reads
Aug 3 - Vornado Realty Trust Q2 adjusted FFO per share rises on new rent commencements
Aug 3 - Alexandria Real Estate Q2 FFO falls on lower occupancy
Aug 3 - Armada Hoffler Q2 revenue up on portfolio NOI growth; raises 2026 FFO outlook
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)