Douglas Emmett, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 07, 2024 at 04:11 pm EDT
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Douglas Emmett, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 212.95 million compared to USD 220.32 million a year ago. Revenue was USD 244.97 million compared to USD 252.39 million a year ago.
Net income was USD 8.91 million compared to USD 18.37 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.1 a year ago.
Douglas Emmett, Inc. is a fully integrated, self-administered and self-managed REIT. The Company owns and operates office and multifamily properties located in premier coastal submarkets in Los Angeles and Honolulu. The Company's properties are located in the Beverly Hills, Brentwood, Burbank, Century City, Olympic Corridor, Santa Monica, Sherman Oaks/Encino, Warner Center/Woodland Hills and Westwood submarkets of Los Angeles County, California, and in Honolulu, Hawaii. The Company operates through two segments: the office segment and the multifamily segment. The Company's segments include the acquisition, development, ownership and management of office and multifamily real estate. The services of its office segment include primarily the rental of office space and other tenant services, including parking and storage space rental. The services of its multifamily segment include primarily the rental of apartments and other tenant services, including parking and storage space rental.