SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Douglas Emmett Inc. (DEI) on Tuesday reported a key measure of profitability in its first quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Santa Monica, California, said it had funds from operations of $98.6 million, or 47 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 48 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $18.4 million, or 10 cents per share.
The real estate investment trust, based in Santa Monica, California, posted revenue of $203.4 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $251.8 million.
Douglas Emmett expects full-year funds from operations in the range of $1.87 to $1.93 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DEI at https://www.zacks.com/ap/DEI
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