Douglas Emmett backs FY23 FFO view $1.87-$1.93, consensus $1.91

The company said, "We are adjusting our assumption for average office occupancy, which we now expect to be between 81% and 83% for the year. As a result, we adjusted our expected range of same property cash NOI growth to be between -1.5% and -0.5%, and for straight-line revenue to be between $1 million and $3 million. These adjustments are offset by the benefit of our stock repurchase so our guidance range for full year FFO per fully diluted share remains between $1.87 and $1.93. We expect Net Income Per Common Share – Diluted to be between $0.35 and $0.41. Our guidance does not include the impact of future property acquisitions or dispositions, stock sales or repurchases, financings, property damage insurance recoveries, impairment charges or other possible capital markets activities."