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North America Real Estate - Earnings and Guidance
Douglas Emmett reports Q3 results
November 03, 2009 6:27 PM ET
By Moira Dickinson

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Douglas Emmett Inc. on Nov. 3 reported FFO for the third quarter totaling $47.8 million, or 31 cents per share, compared to $51.1 million, or 33 cents per share, reported for the year-ago period.

The Thomson First Call mean FFO-per-share estimate for the quarter was 31 cents, according to SNL Financial.

FFO for the fourth quarter of 2009 is expected to range between 29 cents and 31 cents per share. As a result, the company is narrowing its full-year 2009 FFO guidance range to $1.26 to $1.28 per share from $1.25 to $1.29 per share, given with second-quarter earnings Aug. 4.

The Thomson First Call mean FFO-per-share estimates for the fourth quarter and full year are 30 cents and $1.27, respectively.

Same-property NOI on a cash basis decreased 1.3% year over year in the third quarter. Same-property NOI on a GAAP basis decreased 2.4% year over year.

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