Stock Monitor: One Liberty Properties Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 21, 2018 / Active-Investors.com has just released a free earnings report on Douglas Emmett, Inc. (NYSE: DEI) ("DEI"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DEI. DEI reported financial results on February 14, 2018, for the full year and fourth quarter ended December 31, 2017. The Company reported strong financial performance in the fourth quarter of 2017 (Q4 FY17) with meaningful improvements in net income and funds from operations (FFO). Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for One Liberty Properties, Inc. (NYSE: OLP), which also belongs to the Financial sector as the Company Douglas Emmett. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Douglas Emmett most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

DEI's total revenues reached $209.19 million for Q4 FY17, up 7.47% from $194.64 million in Q4 FY16. The reported revenue number surpassed analysts' consensus estimates of $202 million.

During Q4 FY17, DEI's total operating expenses were $144.59 million, an increase of 4.25% from $138.70 million in Q4 FY16. The Company's operating income advanced 15.47% to $64.6 million in Q4 FY17 from $55.94 million in Q4 FY16. DEI had same property cash net operating income (NOI) of $109.53 million in the reported quarter, an increase of 4.85% from $109.5 million in the year ago same quarter.

Net income attributable to DEI's stockholders was $29.54 million for Q4 FY17, up 49.92% from $19.70 million in Q4 FY16. The Company's diluted net income per share jumped 30.77% to $0.17 in the reported quarter from $0.13 in the year ago comparable quarter.

DEI's FFO for Q4 FY17 was $95.38 million, 13.71% higher than $83.88 million in Q4 FY16. DEI's reported FFO included straight-line rent, net accretion of acquired above- and below-market leases, loan costs, non-compensation expense, recurring capital expenditures, tenant improvements and leasing commissions, and adjustments attributable to unconsolidated funds and consolidated joint ventures. The Company's adjusted funds from operations (AFFO) were $76.09 million in Q4 FY17 compared to $62.49 million in Q4 FY16, reflecting an increase of 21.76%. DEI's diluted FFO per share for the quarter under review was 0.49, an increase of 4.26% from $0.47 in the year ago corresponding quarter. FFO for this quarter was in-line with analysts' consensus estimates of $0.49 per share.

For the year ending December 31, 2017, DEI's total revenues were $812.05 million, up 9.36% from $742.55 million in FY16. Net income attributable to DEI's stockholders was $94.44 million in FY17, an increase of 10.59% from $85.4 million in FY16. The Company had a diluted net income per share of $0.58 in the reported year compared to $0.55 in the previous year, reflecting an increase of 5.45%. DEI's FFO was $354.73 million for FY17, up 8.9% from $325.73 million in FY16. The Company's diluted FFO per share for the year ending December 31, 2017, was $1.90, an increase of 4.97% from $1.81 in the previous year. DEI had an AFFO of $288.43 million in FY17, 10.88% higher than $260.12 million in FY16.

Douglas Emmett's Segment Details

Total office revenues were $185.04 million for Q4 FY17, 8.49% up from $170.55 million in Q4 FY16. Of this, $143.17 million (77.37%) were rental revenues, $14.3 million (7.73%) were tenant recoveries, and $27.57 million (14.9%) was parking and other income. DEI's offices business had cash NOI of $94.29 million in the reported quarter, up 5.61% from $89.29 million in the year-ago same quarter. The Company had 63 office properties with rentable area of 16,539 thousand square feet as on December 31, 2017.

The Company's multifamily revenues were $24.15 million in Q4 FY17 compared to $24.09 million in Q4 FY16, reflecting an increase of 0.24%. Of this, $22.28 million (92.24%) were rental revenues and $1.87 million (7.76%) was parking and other income. DEI's multifamily business had cash NOI of $15.24 million in the quarter under review, up 0.37% from $15.18 million in the previous year's comparable quarter. The Company had 10 multifamily properties with 3,380 units as on December 31, 2017.

Cash Matters

DEI had cash and cash equivalents of $176.65 million as on December 31, 2017, compared to $77.26 million on December 31, 2016. The Company's net debt reduced 8.82% to $3.98 billion as on December 31, 2017, from $3.65 billion as on December 31, 2016.

In this quarter, DEI increased its quarterly cash dividend by 9% to $0.25 per common share, or $1.00 on an annualized basis. The Company paid quarterly cash dividend on January 15, 2018, to its shareholders of record on December 29, 2017.

Outlook

For full year 2018, DEI expects diluted net income per common share to be in the range of $0.65 to $0.71 and diluted FFO to be in the range of $1.97 to $2.03.

On March 02, 2018, DEI's Board of Directors declared a quarterly cash dividend of $0.25 per common share, or $1.00 on an annualized basis, to be paid on April 17, 2018, to shareholders of record as of March 29, 2018.

Stock Performance Snapshot

March 20, 2018 - At Tuesday's closing bell, Douglas Emmett's stock dropped 1.60%, ending the trading session at $36.91.

Volume traded for the day: 976.81 thousand shares, which was above the 3-month average volume of 855.68 thousand shares.

Stock performance in the last month – up 1.04%

After yesterday's close, Douglas Emmett's market cap was at $6.15 billion.

Price to Earnings (P/E) ratio was at 64.98.

The stock has a dividend yield of 2.71%.

The stock is part of the Financial sector, categorized under the REIT - Diversified industry. This sector was up 0.2% at the end of the session.

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