Douglas Emmett Inc
NYSE:DEI

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Douglas Emmett Inc
NYSE:DEI
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Price: 11.14 USD 0.63% Market Closed
Market Cap: 1.9B USD

Douglas Emmett Inc
Investor Relations

Douglas Emmett Inc., with its headquarters nestled in Santa Monica, California, has carved out a niche in the bustling world of real estate investment trusts (REITs). Specializing in Class A office properties and multi-family apartment communities, the company thrives on its strategic focus on affluent and supply-constrained markets. With the sprawling cityscapes of Los Angeles and Honolulu as its primary playgrounds, Douglas Emmett Inc. stands poised to tap into these deeply desirable locales where demand consistently outruns supply. This nuanced market strategy provides a competitive edge, enabling the company to command premium rents and maintain high occupancy rates. Their portfolio is curated meticulously, emphasizing assets that not only boast prime locations but also offer the modern amenities and conveniences that discerning tenants yearn for.

Revenue generation at Douglas Emmett is akin to a well-orchestrated symphony, playing each note to perfection. The company thrives on rent—a harmonious blend of stable income from long-term office leases and the dynamic pricing of apartment units, responsive to market fluctuations. This dual-income stream ensures a resilience that stands steadfast in economic ebbs and flows. Douglas Emmett strategically leverages its long-standing relationships and local market expertise to negotiate leases and optimize property improvements, further enhancing its portfolio's value. Additionally, property management and leasing fees add another layer to its robust income streams, ensuring that the company not only builds on its existing assets but continues to explore acquisitions that fit its market-focused approach, driving long-term growth and shareholder value.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 5, 2025
AI Summary
Q3 2025

Leasing Slowdown: Office leasing activity was weaker than expected in Q3, particularly in August and September, though renewals remained strong with tenant retention above 70%.

Multifamily Strength: Multifamily portfolio continues to perform well, with same-store cash NOI up nearly 7% year-over-year and essentially full occupancy.

Financial Results: Revenue was flat at $251 million, FFO per share fell to $0.34, and AFFO dropped to $52 million due to higher interest expense.

Guidance Maintained: 2025 guidance for net income and FFO per share was reiterated, with no changes in anticipated ranges.

Refinancing Activity: Nearly $1.2 billion of debt was refinanced at competitive fixed rates, extending maturities and improving the balance sheet.

Development Pipeline: Progress continues on multifamily development projects, and recent law changes could allow more residential units to be built at existing sites.

Acquisition Outlook: Management is actively pursuing office acquisitions and leveraging joint ventures, with confidence in funding new deals without issuing equity.

Key Financials
Revenue
$251 million
FFO per share
$0.34
AFFO
$52 million
Same-property cash NOI
up 3.5%
Multifamily same-store cash NOI
up 6.8%
Office same-property cash NOI
up 2.6%
G&A expense as percentage of revenue
4.3%
Office tenant retention rate
above 70%
Office leasing costs per square foot per year
$5.63
Office lease cash spreads
down 11.4%
Office lease straight-line value increase
up 1.8%
Office leases signed
215 leases, 840,000 sq ft
New office leases signed
200,000 sq ft
Debt refinanced
almost $1.2 billion
Residential term loans
$941.5 million at 4.8% fixed rate, maturing September 2030
Office term loan refinanced
$200 million at 5.6% fixed rate through July 2030, maturing July 2032
2025 Net Income per common share diluted guidance
$0.07 to $0.11
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jordan L. Kaplan
President, CEO & Director
No Bio Available
Mr. Kenneth M. Panzer
COO & Director
No Bio Available
Mr. Stuart McElhinney
Vice President of Investor Relations
No Bio Available
Mr. Michael J. Means
Senior Vice President of Commercial Leasing
No Bio Available
Mr. Allan B. Golad
Senior Vice President of Property Management
No Bio Available

Contacts

Address
CALIFORNIA
Santa Monica
1299 Ocean Ave Ste 1000
Contacts