Douglas Emmett Inc — Form 8-K

Douglas Emmett reported Q3 2026 revenues of $261M (vs. $251M YoY), with net loss of $9M attributable to common stockholders. Same-property cash NOI declined 3.1% to $148M, though office occupancy improved 101 bps to 76.7%. The company refinanced $366M of office debt at 6.24% (fixed for three years) and has refinanced $1.2B over nine months. Interest expense burden increased $135M annually since 2019 (cost of debt rose from 3% to 5%), depressing FFO. FFO per diluted share held flat at $0.34; AFFO declined to $47M from $52M. Company guides 2026 FFO of $1.39–$1.43 per share (implying ~$288–296M FFO total). Cash position: $311M; net debt $5.46B; leverage 69% of pro forma enterprise value.