Douglas Emmett: Q3 Earnings Snapshot
SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Douglas Emmett Inc. (DEI) on Tuesday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The Santa Monica, California-based real estate investment trust said it had funds from operations of $89.4 million, or 45 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 44 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 a loss of $13.4 million, or 8 cents per share.
The real estate investment trust, based in Santa Monica, California, posted revenue of $255.4 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $251.2 million.
Douglas Emmett expects full-year funds from operations to be $1.81 to $1.85 per share.
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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
