What is Douglas Emmett Earnings Yield (Joel Greenblatt) %?
Douglas Emmett's Enterprise Value for the quarter that ended in Dec. 2023 was $9,081 Mil.
Douglas Emmett's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $134 Mil. Douglas Emmett's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 1.47%.
The historical rank and industry rank for Douglas Emmett's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
DEI'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.27 Med: 2.23 Max: 5.03
Current: 1.83
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Douglas Emmett was 5.03%. The lowest was 1.27%. And the median was 2.23%.
DEI's Earnings Yield (Joel Greenblatt) % is ranked worse than 57.38% of 894
companies
in the REITs industry
Industry Median: 2.845
vs DEI: 1.83
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Douglas Emmett's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 4.36%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Douglas Emmett Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Douglas Emmett's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
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Douglas Emmett Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Douglas Emmett's Earnings Yield (Joel Greenblatt) %
For the REIT - Office subindustry, Douglas Emmett's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Douglas Emmett's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Douglas Emmett's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Douglas Emmett's Earnings Yield (Joel Greenblatt) % falls into.
Douglas Emmett Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Douglas Emmetts Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Douglas Emmett's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $134 Mil.
Douglas Emmett (NYSE:DEI) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Douglas Emmett Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Douglas Emmett's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Douglas Emmett (Douglas Emmett) Business Description
Douglas Emmett Inc is a real estate investment trust that acquires, develops, and manages office and multifamily properties in Los Angeles, California and Honolulu, Hawaii in the U.S. The company focuses on owning assets in communities with large supply constraints, such as the affluent neighborhoods of Los Angeles. The vast majority of Douglas Emmett's real estate portfolio is comprised of office buildings in Los Angeles. Most of these assets are located in the areas of Sherman Oaks, Woodland Hills, and Beverly Hills in terms of total square feet. Douglas Emmett derives nearly all of its income in the form of rental revenue from tenants. The vast majority of this also comes from its Los Angeles office buildings. The company's major tenants are legal, financial, and entertainment firms.
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