Earnings summaries and quarterly performance for Douglas Emmett.
Executive leadership at Douglas Emmett.
Board of directors at Douglas Emmett.
Research analysts who have asked questions during Douglas Emmett earnings calls.
John Kim
BMO Capital Markets
6 questions for DEI
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Nicholas Yulico
Scotiabank
6 questions for DEI
Also covers: AHR, ALX, AVB +20 more
Upal Rana
KeyBanc Capital Markets
6 questions for DEI
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Alexander Goldfarb
Piper Sandler
5 questions for DEI
Also covers: ALEX, ALX, AVB +25 more
Blaine Heck
Wells Fargo Securities
5 questions for DEI
Also covers: BXP, CDP, COLD +14 more
Dylan Burzinski
Green Street Advisors, LLC
5 questions for DEI
Also covers: AAT, ALX, ARE +11 more
Steve Sakwa
Evercore ISI
5 questions for DEI
Also covers: ALX, AMH, AVB +31 more
JG
Jana Galan
Bank of America
4 questions for DEI
Also covers: ADC, AHH, AVB +24 more
Seth Bergey
Citi
4 questions for DEI
Also covers: AHR, BDN, BXP +16 more
AP
Anthony Paolone
JPMorgan Chase & Co.
3 questions for DEI
Also covers: ALX, ARE, AVB +32 more
PA
Peter Abramowitz
Jefferies
3 questions for DEI
Also covers: AHH, ARE, BXP +14 more
RA
Richard Anderson
Wedbush Securities
3 questions for DEI
Also covers: AIV, ARE, AVB +25 more
Jeff Spector
Bank of America
2 questions for DEI
Also covers: AIV, AMH, KW +1 more
Michael Griffin
Citigroup Inc.
2 questions for DEI
Also covers: AHR, ALX, ARE +35 more
RH
Richard Hightower
Barclays PLC
2 questions for DEI
Also covers: GLPI, NNN, UDR
CM
Connor Mitchell
Piper Sandler & Co.
1 question for DEI
Also covers: BRX, CHCT, CPT +8 more
James Feldman
Wells Fargo
1 question for DEI
Also covers: AMH, ARE, AVB +16 more
Recent press releases and 8-K filings for DEI.
Douglas Emmett Reports Strong Q4 2025 Performance and Strategic Advantages
DEI
Earnings
Dividends
New Projects/Investments
- Douglas Emmett reported annual revenues of approximately $1 billion and a total capitalization of approximately $7 billion for 2025, with an annualized 2025 dividend of $.76 per share.
- The company maintains a strong market position in premium Los Angeles and Honolulu, benefiting from high barriers to entry and limited new office construction (3.0% new supply since 2009 in DEI submarkets). This strategy has resulted in 125% cumulative rent growth in DEI West L.A. since 1998 and 3-5% contractual annual rent increases in most office leases.
- Operational efficiency is a key strength, with G&A expense at 6.8% of NOI and recurring TI, LC, and Capex at 14.3% of NOI, both significantly lower than benchmark groups.
- The multifamily portfolio, comprising 5,445 units, demonstrates strong performance with $4,667 revenue per unit and a 73% operating margin in DEI L.A., surpassing benchmark groups.
Feb 11, 2026, 7:00 PM
Douglas Emmett Reports Q4 2025 Results and Provides 2026 Guidance
DEI
Earnings
Guidance Update
New Projects/Investments
- Douglas Emmett reported Q4 2025 revenue of $249 million, an increase of 1.8% year-over-year, with FFO decreasing to $0.35 per share and AFFO to $53 million.
- The company achieved 104,000 sq ft of positive net office absorption in Q4 2025, driven by 224 office leases covering 906,000 sq ft, including 274,000 sq ft of new leases.
- For 2026, Douglas Emmett expects FFO per fully diluted share to be between $1.39 and $1.45, primarily reflecting increased interest expense.
- Strategic initiatives include the conversion of 10900 Wilshire into a mixed-use building and the redevelopment of Landmark Residences, with construction starting or underway, alongside the conversion of Studio Plaza into a multi-tenant office building.
- Management expressed a preference for acquisitions over stock buybacks in 2026, leveraging joint venture partnerships to acquire properties at attractive valuations without significantly increasing company leverage.
Feb 11, 2026, 7:00 PM
Douglas Emmett Reports Q4 2025 Results and Provides 2026 Guidance
DEI
Earnings
Guidance Update
New Projects/Investments
- Douglas Emmett reported Q4 2025 revenue of $249 million, an increase of 1.8% compared to Q4 2024, but FFO decreased to $0.35 per share and AFFO decreased to $53 million, primarily due to increased interest expense.
- In Q4 2025, the company achieved 100,000 sq ft of net positive office absorption and maintained full occupancy in its multifamily portfolio, which saw same-property cash NOI increase by almost 5% compared to the prior year.
- For the full year 2025, Douglas Emmett signed 896 office leases totaling 3.4 million sq ft and successfully executed almost $2 billion in debt transactions.
- The company provided 2026 guidance, expecting FFO per fully diluted share to be between $1.39 and $1.45 and net income per common share diluted between -$0.20 and -$0.14, primarily reflecting increased interest expense.
- Strategic initiatives include commencing construction on the 10900 Wilshire conversion and the 712-unit Landmark Residences redevelopment, with plans for additional residential development sites. The CEO expressed confidence in making more office acquisitions in 2026 through joint ventures to avoid increasing leverage.
Feb 11, 2026, 7:00 PM
Douglas Emmett Reports Q4 2025 Results and Provides 2026 Guidance
DEI
Earnings
Guidance Update
New Projects/Investments
- Douglas Emmett reported 100,000 sq ft of net positive office absorption and an almost 5% increase in multifamily same-property cash NOI for Q4 2025, contributing to positive same-property cash NOI for the full year.
- The company provided 2026 guidance, projecting FFO per fully diluted share between $1.39 and $1.45, primarily reflecting increased interest expense.
- Strategic focuses for 2026 include commencing construction on the 10900 Wilshire conversion and Landmark Residences redevelopment, planning additional residential development sites, and seeking high-quality office acquisitions with joint venture partners.
Feb 11, 2026, 7:00 PM
Douglas Emmett Inc. Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance
DEI
Earnings
Guidance Update
Debt Issuance
- Douglas Emmett Inc. reported Q4 2025 revenues of $249 million, a net loss attributable to common stockholders of $(7) million, and FFO per fully diluted share of $0.35. For the full year 2025, revenues were $1,004 million, with net income attributable to common stockholders of $16 million, and FFO per fully diluted share of $1.45.
- The company provided 2026 guidance, expecting Net Loss Per Common Share - Diluted to be between $(0.20) and $(0.14), and FFO per fully diluted share to be between $1.39 and $1.45.
- Operationally, Douglas Emmett achieved 104,000 square feet of net positive office absorption in Q4 2025 and its multifamily portfolio maintained full occupancy with almost 5% higher same property cash NOI compared to Q4 2024.
- In debt management, a consolidated joint venture reduced its outstanding debt by $60 million and fixed the interest rate on the remaining $565 million at 4.79% through November 2027. The company also secured a non-recourse construction loan for up to $375 million for the Landmark Residences redevelopment. Cash and cash equivalents stood at $340.8 million at quarter end.
Feb 10, 2026, 9:10 PM
Douglas Emmett (DEI) Highlights Strategic Strengths and Operational Efficiency in Q3 2025 Overview
DEI
Earnings
Dividends
- Douglas Emmett (DEI) operates with a focused strategy in high-barrier-to-entry markets, with office leases benefiting from 3% to 5% annual rent increases and West L.A. showing 3.4% compounded annual growth over the last 29 years. The company is the largest office landlord in Los Angeles and Honolulu, holding approximately 39% average market share of Class A office space in its regions.
- DEI demonstrates strong operational efficiency, with G&A expenses at 6.8% of Net Operating Income (NOI) and recurring tenant improvement, leasing commission, and capital expenditure costs at 14.2% of NOI, both significantly lower than its benchmark group. Its portfolio comprises 18 million square feet of office space and 4,410 multifamily units in premium Los Angeles and Honolulu markets.
- The company's risk is mitigated by a diverse base of small, affluent tenants (median size 2,400 square feet) and a consistent lease expiration schedule, with no significant large tenant rollover risk. DEI's submarkets in Los Angeles have experienced minimal new office supply, with only 3.0% added since 2009, contributing to 126% cumulative rent growth since 1998 in West L.A..
- Douglas Emmett has a total capitalization of approximately $7 billion and annual revenues of approximately $1 billion, with an annualized 2025 dividend of $.76 per share. The company has no debt maturities in 2025, with the next significant maturity of $1,181 million occurring in 2026.
Nov 5, 2025, 7:00 PM
Douglas Emmett Reports Q3 2025 Results and Reaffirms 2025 Guidance
DEI
Earnings
Guidance Update
Debt Issuance
- Douglas Emmett reported Q3 2025 revenue of $251 million, which was flat compared to Q3 2024, and FFO decreased to $0.34 per share.
- The company's same-property cash NOI increased by 3.5%, driven by a 6.8% increase in multifamily and a 2.6% increase in office (though office growth was essentially flat excluding property tax refunds).
- Office leasing activity in Q3 2025 included 215 leases covering 840,000 sq ft, with cash spreads down 11.4%, and a slowdown in new leasing during August and September.
- Douglas Emmett refinanced approximately $1.2 billion of debt during Q3 2025 at competitive rates, including a $200 million office term loan at 5.6% and $941.5 million in residential term loans at 4.8%, extending maturities.
- The company maintains its 2025 FFO per fully diluted share guidance between $1.43 and $1.47 and is actively pursuing off-market office acquisitions and multifamily development projects.
Nov 5, 2025, 7:00 PM
Douglas Emmett Inc. Reports Q3 2025 Financial Results and Updates Guidance
DEI
Earnings
Guidance Update
Debt Issuance
- Douglas Emmett Inc. reported a net loss of $(11) million for Q3 2025, compared to a net income of $5 million in Q3 2024, with FFO per fully diluted share decreasing to $0.34 from $0.43. The company narrowed its 2025 FFO per fully diluted share guidance to between $1.43 and $1.47 and expects Net Income Per Common Share - Diluted to be between $0.07 and $0.11.
- Q3 2025 results reflect the acquisition of 10900 Wilshire and the consolidation of a previously unconsolidated joint venture as of January 2025. The In-Service Portfolio, comprising 17.5 million square feet of office and 4,410 apartment units, saw office cash rents decrease by 11.4% on new/renewed leases, while the multifamily portfolio remained 98.8% leased with approximately 7% same property cash NOI growth.
- The company refinanced a $200.0 million office term loan and closed approximately $941.5 million in new residential term loans in Q3 2025, with no loan maturities remaining in 2025. A quarterly cash dividend of $0.19 per common share was paid on October 15, 2025.
Nov 4, 2025, 9:11 PM
Quarterly earnings call transcripts for Douglas Emmett.
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