Douglas Emmett (DEI) has reported 163.86 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $31.85 million, or $0.21 a share in the quarter, compared with $12.07 million, or $0.08 a share for the same period last year.
Revenue during the quarter grew 20.02 percent to $192.12 million from $160.08 million in the previous year period.
Total expenses were $134.80 million for the quarter, up 17.75 percent or $20.32 million from year-ago period. Operating margin for the quarter expanded 135 basis points over the previous year period to 29.83 percent.
Operating income for the quarter was $57.32 million, compared with $45.60 million in the previous year period.
Revenue from real estate activities during the quarter increased 23.04 percent or $31.38 million to $167.61 million.
Income from operating leases during the quarter rose 24.47 percent or $25.31 million to $128.74 million. Revenue from tenant reimbursements was $12.91 million for the quarter, up 16.62 percent or $1.84 million from year-ago period.
Revenue from other real estate activities during the quarter was $25.95 million, up 19.50 percent or $4.23 million from year-ago period.
Receivables move upNet receivables were at $2.17 million as on Sep. 30, 2016, up 6.48 percent or $0.13 million from year-ago. Total assets grew 28.62 percent or $1,701.42 million to $7,645.27 million on Sep. 30, 2016. On the other hand, total liabilities were at $4,678.23 million as on Sep. 30, 2016, up 27.33 percent or $1,004.19 million from year-ago.
Return on assets was almost stable at 0.79 percent in the quarter, when compared with the last year period. At the same time, return on equity moved up 54 basis points to 1.07 percent in the quarter.
Debt increases substantiallyTotal debt was at $4,401.85 million as on Sep. 30, 2016, up 26.70 percent or $927.74 million from year-ago. Shareholders equity stood at $2,967.04 million as on Sep. 30, 2016, up 30.72 percent or $697.23 million from year-ago. As a result, debt to equity ratio went down 5 basis points to 1.48 percent in the quarter.
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