Summary :
The real estate investment trust, based in Santa Monica, California, said it had funds from operations of $105.2 million, or 51 cents per share, in the period. The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 51 cents per share. The company said it had net income of $24.4 million, or 14 cents per share. Douglas Emmett expects full-year funds from operations to be $2.03 to $2.07 per share.
SANTA MONICA, Calif. (AP) _ Douglas Emmett Inc. (DEI) on Monday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.The real estate investment trust, based in Santa Monica, California, said it had funds from operations of $105.2 million, or 51 cents per share, in the period.The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 51 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 $24.4 million, or 14 cents per share. The real estate investment trust posted revenue of $247 million in the period. Douglas Emmett expects full-year funds from operations to be $2.03 to $2.07 per share. Check levels down to the neighborhood Ratings for the Bay Area and California, updated every 10 minutes 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
