Douglas Emmett reports 4Q results
Feb. 13, 2018
SANTA MONICA, Calif. (AP) — Douglas Emmett Inc. (DEI) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The Santa Monica, California-based real estate investment trust said it had funds from operations of $95.4 million, or 49 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 49 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $29.5 million, or 17 cents per share.
The real estate investment trust posted revenue of $209.2 million in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $202 million.
For the year, the company reported funds from operations of $354.7 million, or $1.90 per share. Revenue was reported as $812.1 million.
The company's shares have declined 11 percent since the beginning of the year.
Elements of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DEI at https://www.zacks.com/ap/DEI
This story has been corrected to show that the company reported fourth-quarter revenue of $209.2 million, which topped expectations, not $185 million.