Douglas Emmett, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 06, 2024 at 04:11 pm EST
Share
Douglas Emmett, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 222.67 million compared to USD 223.68 million a year ago. Revenue was USD 259.28 million compared to USD 254.14 million a year ago. Net loss was USD 40.46 million compared to net income of USD 24.3 million a year ago. Basic loss per share from continuing operations was USD 0.24 compared to basic earnings per share from continuing operations of USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.24 compared to diluted earnings per share from continuing operations of USD 0.14 a year ago.
For the full year, sales was USD 889.04 million compared to USD 876.45 million a year ago. Revenue was USD 1,020.49 million compared to USD 993.65 million a year ago. Net loss was USD 42.71 million compared to net income of USD 97.15 million a year ago. Basic loss per share from continuing operations was USD 0.26 compared to basic earnings per share from continuing operations of USD 0.55 a year ago. Diluted loss per share from continuing operations was USD 0.26 compared to diluted earnings per share from continuing operations of USD 0.55 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.
DOUGLAS EMMETT, INC. 
