# Douglas Emmett, Inc. (DEI)

> Source: Nexqual · https://nexqual.com/DEI · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Douglas Emmett, Inc. (DEI), nexqual.com/DEI" · informational, not investment advice.

**Price:** USD 10.09 (+5.88% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 9.53 · day 9.5–10.11 · 52w 9.04–13.67 · market cap $2.03B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.01B, net income -$22.9M (-2.3% margin), free cash flow $179M (SEC filings).
- 3 of 80 tracked superinvestors hold DEI (13F, Q2 2026): 0 new, 1 added, 1 reduced, 1 unchanged.
- Analysts: Hold (mean 3.08 on a 1–5 scale) (12 analysts), mean target USD 12.4 (range 10–16).
- Total return with dividends: 1Y -18.8% vs S&P 500 +14.9%; 5Y -60.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD -0.06, revenue estimate $256M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $918M | $994M | $1.02B | $986M | $1.00B | $1.01B |
| Gross profit | $615M | $660M | $659M | $636M | $636M | — |
| Net income | $65.3M | $97.1M | -$42.7M | $23.5M | $16.3M | -$22.9M |
| EPS (diluted) | $0.37 | $0.55 | -$0.26 | $0.13 | $0.09 | — |
| Free cash flow | $338M | $335M | $238M | $241M | $194M | $179M |
| Gross margin | 67.0% | 66.4% | 64.6% | 64.5% | 63.4% | — |
| Net margin | 7.1% | 9.8% | -4.2% | 2.4% | 1.6% | -2.3% |
| Revenue growth | +3.0% | +8.2% | +2.7% | -3.3% | +1.8% | — |
| Cash + short-term investments | $336M | $269M | $523M | $445M | $341M | — |
| Total debt | $5.01B | $5.19B | $5.54B | $5.50B | $5.55B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Dec 2025 113.1x, Dec 2024 132.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold DEI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Pacific Advisors |  | 1.30% | $103M | Added +1.2% |
| First Eagle Investment | First Eagle Investment Management | 0.27% | $165M | Unchanged |
| Christopher Davis | Davis Advisors | 0.02% | $3.6M | Reduced -2.2% |

## Analysts
Consensus Hold (mean 3.08 on a 1–5 scale), 12 analysts; mean target USD 12.4 (low 10, high 16).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Piper Sandler | Target lowered | Neutral | $14 → $11 |
| 2026-09-17 | Scotiabank | Target lowered | Sector Perform | $13 → $12 |
| 2026-09-09 | JP Morgan | Target raised | Neutral | $15 → $16 |
| 2026-08-07 | Cantor Fitzgerald | Target raised | Neutral | $12 → $13 |
| 2026-07-21 | Scotiabank | Target raised | Sector Perform | $12 → $13 |
| 2026-07-21 | Piper Sandler | Target raised | Neutral | $11 → $14 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -18.8% | -60.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -18.9% | -16.9% |
| Volatility (annualized) | 30.9% | 35.5% |
| Max drawdown | -30.2% (Oct 2025→Mar 2026) | -68.9% (Jan 2022→Mar 2026) |

## Peers (REIT - Office)
ESBA (Empire State Realty OP, L.P. Se) USD 4.99 +4.51% · PDM (Piedmont Realty Trust, Inc.) USD 9.63 +4.11% · HIW (Highwoods Properties, Inc.) USD 30.47 +4.24% · DEA (Easterly Government Properties,) USD 22.57 +2.13% · SLG (SL Green Realty Corp) USD 49.19 +5.38% · CDP (COPT Defense Properties) USD 33.83 +2.24%

## More
Full page: https://nexqual.com/DEI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Office rental | $206.0M | 80.3% | +1.6% |
| Multifamily rental | $50.5M | 19.7% | +1.8% |
| Total revenue | $256.5M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Rental revenues and tenant recoveries | $174.0M | 67.8% | +0.6% |
| Rental revenues | $46.0M | 17.9% | +1.5% |
| Parking and other income | $32.0M | 12.5% | +7.2% |
| Tenant Recoveries | $16.1M | 6.3% | +24.8% |
| Total revenue | $256.5M | 100% | — |
The lines above cover 104.5% of total revenue.

## Company outlook (8-K filed 2026-08-04)

- "Solely as the result of including Studio Plaza, we are lowering our office occupancy guidance range to between 75% and 77%."
- "Therefore, we now expect our 2026 Net Loss Per Common Share - Diluted to be between $(0.20) and $(0.16), and FFO per fully diluted share to be between $1.39 and $1.43."
- "Our guidance does not include the impact of future property acquisitions or dispositions, common stock sales or repurchases, financings, property damage insurance recoveries, impairment charges or other possible capital markets activities."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.06 | $-0.05 | +25.4% | $256.4M | 4 |
| Next quarter (ends 2026-12-31) | $-0.05 | $-0.04 | +27.7% | $258.6M | 5 |
| Current fiscal year (ends 2026-12-31) | $-0.15 | $-0.14 | +7.4% | $1.02B | 4 |
| Next fiscal year (ends 2027-12-31) | $-0.18 | $-0.14 | +29.3% | $1.05B | 3 |