Fri, May 9, 8:30 PM (2 days ago)
**Douglas Emmett, Inc. (DEI) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $251.5 million (up from $244.9 million in Q1 2024). - **Net Income:** $44.6 million (up from $6.1 million in Q1 2024). - **EPS:** $0.24 (up from $0.05 in Q1 2024). - **FFO:** $81.0 million (down from $90.1 million in Q1 2024). - **NOI:** $154.6 million (flat compared to Q1 2024). **Operational Metrics:** - **Occupancy Rates:** Office: 78.6% (down from 81.0% in Q1 2024), Multifamily: 97.7% (up from 96.7% in Q1 2024). - **Rental Rates:** Office: $45.53 per square foot (down from $50.50 in Q1 2024), Multifamily: $43,206 per unit (up from $39,580 in Q1 2024). **Cash Flow:** - **Operating Cash Flow:** $132.6 million (down from $139.0 million in Q1 2024). - **Investing Cash Flow:** -$33.9 million (improved from -$62.4 million in Q1 2024). - **Financing Cash Flow:** -$17.6 million (improved from -$42.9 million in Q1 2024). **Debt and Liquidity:** - **Total Debt:** $5.63 billion (up from $5.49 billion in Q1 2024). - **Cash and Cash Equivalents:** $525.7 million (up from $556.7 million in Q1 2024). **Trends and Uncertainties:** - **Positive Trends:** Increased multifamily occupancy and rental rates, improved financing cash flow. - **Negative Trends:** Decreased office occupancy and rental rates, lower FFO. - **Uncertainties:** Inflation, higher interest rates, and economic conditions impacting tenant demand and rental rates. **Future Operations Impact:** - **Development and Repositioning:** Continued investment in development projects and repositioning of properties. - **Liquidity:** Plans to meet long-term liquidity needs through secured non-recourse debt, equity issuance, and property dispositions. **Notable Events:** - Consolidation of Partnership X JV, acquisition of 10900 Wilshire Boulevard office property, and extension of a $335.0 million term loan. **Ticker:** DEI