Douglas Emmett
Landlord of Class A offices and apartments in Los Angeles and Honolulu.
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Profile
Owns and manages Class A offices and apartment communities in supply-constrained Los Angeles and Honolulu submarkets, earning rent plus parking, storage, and tenant-service income. Office is the larger segment, and an in-house operating platform supports leasing, property management, design, and construction.
Owns, develops, and manages Class A office buildings and apartment communities in supply-constrained Los Angeles and Honolulu submarkets. Rental income comes from office space and apartments, plus parking, storage, and related tenant services. Medical offices belong to the office segment, while joint ventures extend the portfolio alongside institutional capital.
Uses concentrated local scale and in-house leasing, property management, design, and construction to serve a broad base of smaller office tenants. Office remains the larger segment, tying results closely to leasing demand and workplace patterns; apartments add a second rental stream subject to local rent-control rules. All properties remain concentrated in Los Angeles County and Honolulu, while REIT status depends on federal income, asset, ownership, and distribution requirements.
Company facts
Key statistics
Year to date +6.2% · Average volume (30d) 1.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 21, 2026 | Scotiabank | Reiterate | Sector Perform | $12 | $13 | |
| Jun 8, 2026 | Evercore ISI | Target | $12 | $14 | ||
| May 21, 2026 | Scotiabank | Reiterate | Sector Perform | $12.50 | $12 | |
| Feb 17, 2026 | Piper Sandler | Reiterate | Neutral | $14 | $11 | |
| Feb 11, 2026 | Evercore ISI | Target | $16 | $12 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | −$0.03 | −$0.02 | +27.2% | $253.4M | $256.5M | +1.3% | −1.34% |
| May 5, 2026Q1 FY26 | −$0.05 | $0.37 | +890.3% | $251.1M | $251.0M | −0.1% | +7.41% |
| Feb 10, 2026Q4 FY25 | −$0.05 | $0.35 | +740.0% | $252.3M | $249.4M | −1.1% | −3.20% |
| Nov 4, 2025Q3 FY25 | $0.34 | $0.34 | 0.0% | $252.8M | $250.6M | −0.9% | −4.75% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $251.5M | $252.4M | $250.6M | $249.4M | $251.0M | $256.5M | |
| Gross profit | $161.9M | $159.6M | $159.4M | $155.1M | $159.9M | $162.1M | |
| Operating income | $52.6M | $45.6M | $47.4M | $44.8M | $48.9M | $50.3M | |
| Net income | $39.8M | −$5.8M | −$10.9M | −$6.8M | −$2.5M | −$2.7M | |
| Diluted EPS | $0.24 | −$0.04 | −$0.06 | −$0.04 | −$0.01 | −$0.02 | |
| Gross margin | 64.4% | 63.2% | 63.6% | 62.2% | 63.7% | 63.2% | |
| Operating margin | 20.9% | 18.1% | 18.9% | 17.9% | 19.5% | 19.6% |
Fiscal years (4-quarter sums)FY21 $914.5M · FY22 $994.6M · FY23 $984.5M · FY24 $986.5M · FY25 $1.00B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $355.0M · Total debt $5.75B · Total assets $9.55B · Shareholders' equity $1.84B
Dividends
Raised for 2 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.19 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.19 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.19 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.19 | |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.19 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.19 | |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.19 | |
| Sep 30, 2024 | Sep 30 | Oct 16 | $0.19 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 167.49M · Float 163.00M · 97.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 24.39M | 14.56% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 16.42M | 9.80% | 13F | Aug 13, 2026 |
| First Eagle Investment Management, LLC | 13.96M | 8.33% | 13F | Aug 24, 2026 |
| State Street Corp | 9.46M | 5.65% | 13F | Aug 7, 2026 |
| First Pacific Advisors, LP | 8.74M | 5.22% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 13, 2026 | Jordan L. Kaplan | director, officer: Chairman and CEO | +98,000 | $10.18 |
| Nov 14, 2025 | Michele L. Aronson | officer: EVP, GEN COUNSEL & SECRETARY | +7,500 | $11.75 |
| Nov 17, 2025 | Michele L. Aronson | officer: EVP, GEN COUNSEL & SECRETARY | +34,626 | $11.68 |
Peers
- Kilroy Realty
Premier West Coast office and life-science space
- Hudson Pacific Properties
Los Angeles office and studio landlord
- BXP
Scaled gateway-market premier office owner
- Equity Residential
Large Southern California apartment operator
- AvalonBay Communities
Coastal apartment developer and operator
- Essex Property Trust
West Coast apartment REIT with Southern California scale
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Douglas Emmett | $11.76 | 0.00% | $1.97B | — | — | 2.0 | +1.6% |
| Kilroy Realty | $36.21 | −0.03% | $4.21B | 25.3 | 86.1 | 3.8 | −6.0% |
| Hudson Pacific Properties | $13.14 | −0.23% | $712.7M | — | — | 0.9 | −0.9% |
| BXP | $68.89 | −0.61% | $11.05B | 37.3 | 33.8 | 3.1 | +3.1% |
| Equity Residential | $63.66 | −3.50% | $23.87B | 27.9 | 42.5 | 7.6 | +2.1% |
| AvalonBay Communities | $184.06 | 0.00% | $26.28B | 25.4 | 35.5 | 8.5 | −6.3% |
| Essex Property Trust | $284.03 | 0.00% | $18.25B | 44.2 | 47.4 | 9.5 | +3.6% |
| Median | 27.9 | 42.5 | 5.7 | +0.6% |