Douglas Emmett narrows FY24 FFO view to $1.65-$1.69, consensus $1.66

Douglas Emmett said: “Our second quarter FFO benefited from anticipated property tax refunds and the timing of operating expenses. In determining our guidance for the rest of the year, we have not included similar benefits, but have factored in the usual seasonal increase in our utility costs in the third quarter, the move out of Warner Bros. Discovery in Burbank, and higher interest expense. As a result, we are narrowing our 2024 full year guidance for Net Income Per Common Share – Diluted to be between $0.05 and $0.09, and our FFO per fully diluted share to be between $1.65 and $1.69. 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.”