Douglas Emmett Q1 revenue falls 2.9% to $245.0 million; 2024 guidance unchanged
Douglas Emmett reported first quarter 2024 results, with revenue down 2.9% to $245.0 million and net income attributable to common stockholders down 51.5% to $8.9 million, or $0.05 per diluted share. The company left its full-year 2024 FFO per share guidance of $1.64 to $1.70 unchanged, citing expected higher interest expense, so shareholders face lower first quarter earnings with no change to the outlook.
Key points
- Revenue fell 2.9% to $245.0 million, as lower office occupancy and the removal of Barrington Plaza apartments offset higher residential and parking revenue.
- FFO fell 8.7% to $90.1 million, or $0.45 per fully diluted share, mainly due to higher interest expense and lower revenues.
- 2024 guidance: net income per diluted share of $0.04 to $0.10 and FFO per fully diluted share of $1.64 to $1.70, both unchanged.
- Quarterly dividend of $0.19 per common share was paid on April 16, 2024.
The filing
Written by AI on Nov 8, 2026, 1:54 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.