Overview
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- TickerDEI on NYSE1
- IndustryReal Estate Investment Trusts1
- HeadquartersSanta Monica, California1
- Incorporated inMD2
- Business address1299 Ocean Avenue, Suite 1000, Santa Monica, Ca 904012
- Filer categoryLarge accelerated filer2
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Annualized Rent Annualized cash base rent (excludes tenant reimbursements, parking and other revenue) before abatements under leases commenced as of the reporting date and expiring after the reporting date. Annualized Rent for our triple net office properties (in Honolulu) is calculated by adding expense reimbursements and estimates of normal building expenses paid by tenants to base rent. Annualized Rent does not include lost rent recovered from insurance and rent for building management use. Annualized Rent includes rent for our corporate headquarters in Santa Monica. We report Annualized Rent because it is a widely reported measure of the performance of equity REITs, and is used by some investors as a means to determine tenant demand and to compare our performance and value with other REITs. We use Annualized Rent to manage and monitor the performance of our office and multifamily por…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Tenant Recoveries brought in 87% of the revenue Douglas Emmett Inc broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tenant Recoveries | $61.6M | $50.1M | $51.3M |
| Rental Revenue, Tenant Improvements | $5.8M | $7.0M | $7.5M |
Business segments
Office brought in 80% of the revenue Douglas Emmett Inc broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Office | $829.9M | $796.4M | $805.5M |
| Multifamily | $190.5M | $190.1M | $198.5M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs98¢$987.7M
- Profit2¢$16.3M
Out of $1.0B in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Dividends paid33¢$127.3M
- Kept or used elsewhere67¢$259.6M
Out of $386.9M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $1.0B | $986.5M | $1.0B |
| General and administrative expenses | $46.7M | $45.4M | $49.2M |
| Depreciation and amortization | $398.9M | $384.0M | $459.9M |
| Total operating expenses | $813.5M | $779.7M | $870.8M |
| Other income | $18.0M | $28.0M | $19.6M |
| Other expenses | -$437.0K | -$398.0K | -$1.0M |
| Income (loss) from unconsolidated Fund | $0 | $2.6M | -$34.6M |
| Interest expense | -$266.7M | -$229.4M | -$209.5M |
| Gain from consolidation of JV | $47.2M | $0 | $0 |
| Net (loss) income | -$11.4M | $7.6M | -$75.8M |
| Net loss attributable to noncontrolling interests | $27.7M | $15.9M | $33.1M |
| Net income (loss) attributable to common stockholders | $16.3M | $23.5M | -$42.7M |
| Net income (loss) per common share - basic (usd per share) | $0.09 | $0.13 | -$0.26 |
| Net income (loss) per common share diluted (usd per share) | $0.09 | $0.13 | -$0.26 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Investment in real estate, gross | $12.8B | $12.5B | ||
| Less: accumulated depreciation and amortization | -$4.1B | -$3.9B | ||
| Investment in real estate, net | $8.7B | $8.6B | ||
| Ground lease right-of-use asset | $7.4M | $7.4M | ||
| Cash and cash equivalents | $340.8M | $444.6M | $523.1M | |
| Tenant receivables | $2.0M | $4.2M | ||
| Deferred rent receivables | $123.6M | $117.6M | ||
| Acquired lease intangible assets, net | $4.7M | $2.5M | ||
| Interest rate contract assets | $22.3M | $77.6M | ||
| Investment in unconsolidated Fund | $0 | $23.8M | ||
| Other assets | $44.0M | $147.3M | ||
| Total Assets | $9.3B | $9.4B | ||
| Secured notes payable, net | $5.5B | $5.5B | ||
| Ground lease liability | $10.8M | $10.8M | ||
| Interest payable, accounts payable and deferred revenue | $140.0M | $131.0M | ||
| Security deposits | $67.1M | $62.4M | ||
| Acquired lease intangible liabilities, net | $8.3M | $11.3M | ||
| Interest rate contract liabilities | $6.4M | $0 | ||
| Dividends payable | $31.8M | $31.8M | ||
| Total Liabilities | $5.8B | $5.7B | ||
| Common Stock, $0.01 par value, 750,000,000 authorized, 167,462,215 and 167,435,259 outstanding at December 31, 2025 and December 31, 2024, respectively | $1.7M | $1.7M | ||
| Additional paid-in capital | $3.4B | $3.4B | ||
| Accumulated other comprehensive income | $11.5M | $54.9M | ||
| Accumulated deficit | -$1.5B | -$1.4B | ||
| Total Douglas Emmett, Inc. stockholders' equity | $1.9B | $2.1B | ||
| Noncontrolling interests | $1.6B | $1.6B | ||
| Total Equity | $3.5B | $3.7B | $3.8B | $4.3B |
| Total Liabilities and Equity | $9.3B | $9.4B | ||
| Common Stock, par value (in usd per share) | $0.01 | $0.01 | ||
| Common Stock, authorized (in shares) | 750.0M shares | 750.0M shares | ||
| Common Stock, outstanding (in shares) | 167.5M shares | 167.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Investment in real estate, gross | $12.8B | $12.5B | ||
| Less: accumulated depreciation and amortization | -$4.1B | -$3.9B | ||
| Investment in real estate, net | $8.7B | $8.6B | ||
| Ground lease right-of-use asset | $7.4M | $7.4M | ||
| Cash and cash equivalents | $340.8M | $444.6M | $523.1M | |
| Tenant receivables | $2.0M | $4.2M | ||
| Deferred rent receivables | $123.6M | $117.6M | ||
| Acquired lease intangible assets, net | $4.7M | $2.5M | ||
| Interest rate contract assets | $22.3M | $77.6M | ||
| Investment in unconsolidated Fund | $0 | $23.8M | ||
| Other assets | $44.0M | $147.3M | ||
| Total Assets | $9.3B | $9.4B | ||
| Secured notes payable, net | $5.5B | $5.5B | ||
| Ground lease liability | $10.8M | $10.8M | ||
| Interest payable, accounts payable and deferred revenue | $140.0M | $131.0M | ||
| Security deposits | $67.1M | $62.4M | ||
| Acquired lease intangible liabilities, net | $8.3M | $11.3M | ||
| Interest rate contract liabilities | $6.4M | $0 | ||
| Dividends payable | $31.8M | $31.8M | ||
| Total Liabilities | $5.8B | $5.7B | ||
| Common Stock, $0.01 par value, 750,000,000 authorized, 167,462,215 and 167,435,259 outstanding at December 31, 2025 and December 31, 2024, respectively | $1.7M | $1.7M | ||
| Additional paid-in capital | $3.4B | $3.4B | ||
| Accumulated other comprehensive income | $11.5M | $54.9M | ||
| Accumulated deficit | -$1.5B | -$1.4B | ||
| Total Douglas Emmett, Inc. stockholders' equity | $1.9B | $2.1B | ||
| Noncontrolling interests | $1.6B | $1.6B | ||
| Total Equity | $3.5B | $3.7B | $3.8B | $4.3B |
| Total Liabilities and Equity | $9.3B | $9.4B | ||
| Common Stock, par value (in usd per share) | $0.01 | $0.01 | ||
| Common Stock, authorized (in shares) | 750.0M shares | 750.0M shares | ||
| Common Stock, outstanding (in shares) | 167.5M shares | 167.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) income | -$11.4M | $7.6M | -$75.8M |
| (Income) loss from unconsolidated Fund | $0 | -$2.6M | $34.6M |
| Gain from consolidation of JV | -$47.2M | $0 | $0 |
| Depreciation and amortization | $398.9M | $384.0M | $459.9M |
| Net accretion of acquired lease intangibles | -$4.8M | -$8.0M | -$11.0M |
| Straight-line rent | -$6.0M | -$2.2M | -$342.0K |
| Loan premium/discount amortized/accreted and written off | $336.0K | -$333.0K | -$460.0K |
| Deferred loan costs amortized and written off | $11.9M | $9.3M | $8.9M |
| Amortization of stock-based compensation | $21.2M | $21.0M | $19.8M |
| Operating distributions from unconsolidated Fund | $0 | $1.2M | $1.3M |
| Purchase of interest rate caps | $0 | $0 | -$1.6M |
| Tenant receivables | $2.2M | $1.9M | $783.0K |
| Interest payable, accounts payable and deferred revenue | $11.4M | -$4.0K | $6.2M |
| Security deposits | $3.2M | $491.0K | $529.0K |
| Other assets | $7.1M | -$3.7M | -$15.9M |
| Net cash provided by operating activities | $386.9M | $408.7M | $427.0M |
| Capital expenditures for improvements to real estate | -$192.4M | -$167.3M | -$189.2M |
| Capital expenditures for developments and purchase of note receivable secured by real estate | -$102.5M | -$72.1M | -$41.5M |
| Insurance recoveries for damage to real estate | $3.9M | $3.6M | $2.2M |
| Cash assumed from consolidation of JV | $25.6M | $0 | $0 |
| Acquisition of additional interests in unconsolidated Fund | $0 | -$5.2M | -$5.2M |
| Capital distributions from unconsolidated Fund | $0 | $269.0K | $80.0K |
| Net cash used in investing activities | -$265.3M | -$240.8M | -$233.6M |
| Proceeds from borrowings | $1.3B | $325.0M | $505.0M |
| Repayment of borrowings | -$1.4B | -$434.9M | -$155.9M |
| Loan cost payments | -$31.2M | -$5.6M | -$6.3M |
| Contributions from noncontrolling interests in consolidated JVs | $5.4M | $28.0M | $125.0K |
| Distributions paid to noncontrolling interests | -$28.4M | -$31.6M | -$40.6M |
| Dividends paid to common stockholders | -$127.3M | -$127.2M | -$129.9M |
| Repurchases of OP Units | -$351.0K | -$138.0K | -$2.4M |
| Repurchases of common stock | $0 | $0 | -$109.2M |
| Net cash (used in) provided by financing activities | -$225.3M | -$246.5M | $60.9M |
| (Decrease) increase in cash and cash equivalents and restricted cash | -$103.8M | -$78.5M | $254.2M |
| Cash paid for interest, net of capitalized interest | $237.4M | $219.5M | $196.0M |
| Capitalized interest paid | $11.2M | $8.7M | $1.5M |
| Accrual for real estate and development capital expenditures | $16.8M | $15.8M | $16.5M |
| Capitalized stock-based compensation for improvements to real estate and developments | $6.0M | $6.1M | $6.0M |
| Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles | $253.5M | $114.2M | $102.1M |
| Removal of fully amortized acquired lease intangible assets | $1.7M | $203.0K | $427.0K |
| Removal of fully accreted acquired lease intangible liabilities | $10.3M | $13.3M | $16.8M |
| Gain recorded in AOCI | -$7.7M | $47.9M | $45.4M |
| Dividends declared | $127.3M | $127.2M | $128.3M |
| Exchange of OP Units for common stock | $379.0K | $3.5M | $7.7M |
| Seller financing of note receivable purchase | $0 | $61.8M | $0 |
No quarter-by-quarter statement was filed.
Corporate structure
Douglas Emmett Inc sits at the top of its group. 120 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Douglas Emmett Inc
- First Pacific Advisors, LP Filed SCHEDULE 13G on Douglas Emmett Inc, latest May 13, 2026
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Douglas Emmett Inc, latest Apr 29, 2026
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Douglas Emmett Inc, latest Apr 29, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Douglas Emmett Inc, latest Mar 26, 2026 (4 filings since Feb 9, 2022)
- FMR LLC Filed SCHEDULE 13G/A on Douglas Emmett Inc, latest Nov 5, 2025 (4 filings since Feb 9, 2022)
- Wellington Management Company Filed SCHEDULE 13G/A on Douglas Emmett Inc, latest May 12, 2025 (3 filings since Feb 9, 2024)
- First Eagle Investment Management, LLC Filed SC 13G/A on Douglas Emmett Inc, latest Feb 9, 2024 (2 filings since Feb 9, 2023)
- State Street Corporation Filed SC 13G/A on Douglas Emmett Inc, latest Jan 30, 2024 (2 filings since Jan 20, 2023)
- BlackRock Filed SC 13G/A on Douglas Emmett Inc, latest Jan 23, 2024 (5 filings since Jan 26, 2022)
- NORGES BANK Filed SC 13G/A on Douglas Emmett Inc, latest Feb 14, 2023 (2 filings since Nov 17, 2022)
- Douglas Emmett Inc Santa Monica, California
- (fka DE 201 Santa Monica, LLC) Subsidiary · California, United States
- (fka DE Owensmouth, LLC) Subsidiary · California, United States
- (fka Douglas Emmett Realty Fund 1996, a CA limited partnership) Subsidiary · California, United States
- (fka Douglas Emmett Realty Fund 1997, a CA limited partnership) Subsidiary · California, United States
- (fka Douglas Emmett Realty Fund 2002, a CA limited partnership) Subsidiary · California, United States
- (fka Douglas Emmett, LLC) Subsidiary · California, United States
- 11633 BSVM, LLC Subsidiary · Delaware, United States
- 11726 BEP, LLC Subsidiary · Delaware, United States
- 11750 LMLA, LLC Subsidiary · Delaware, United States
- 11980 BMP, LLC Subsidiary · Delaware, United States
- 11990 Brentwood Court, LLC Subsidiary · Delaware, United States
- 12400 Wilshire, LLC Subsidiary · Delaware, United States
- 12424 Gateway, LLC Subsidiary · Delaware, United States
- 15165 Columbus Center, LLC Subsidiary · Delaware, United States
- 15910 Encino Plaza, LLC Subsidiary · Delaware, United States
- 401 SM, LLC Subsidiary · Delaware, United States
- 530 Wilshire, LLC Subsidiary · Delaware, United States
- Barrington Pacific, LLC Subsidiary · California, United States
- Brentwood Saltair, LLC Subsidiary · Delaware, United States
- Carthay Campus, LLC Subsidiary · Delaware, United States
- DE 100 Wilshire, LLC Subsidiary · Delaware, United States
- DE 10990 Wilshire, LLC Subsidiary · Delaware, United States
- DE 11777, LLC Subsidiary · Delaware, United States
- DE 11900, LLC Subsidiary · Delaware, United States
- DE 12121 Wilshire, LP Subsidiary · Delaware, United States
- and 94 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Douglas Emmett Inc reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Land | $1.2B5 Dec 31, 2025 | $1.2B5 Dec 31, 2024 | +1.1% |
| Property and equipment, net | $7.0M5 Dec 31, 2025 | $6.8M5 Dec 31, 2024 | +2.1% |
| Operating-lease assets (leased space) | $7.4M5 Dec 31, 2025 | $7.4M5 Dec 31, 2024 | −0.1% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $8.7B5 Dec 31, 2025 | $8.6B5 Dec 31, 2024 | +1.9% |
| Real estate investments, at cost | $12.8B5 Dec 31, 2025 | $12.5B5 Dec 31, 2024 | +2.4% |
| Real estate accumulated depreciation | $4.1B5 Dec 31, 2025 | $3.9B5 Dec 31, 2024 | +3.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $340.8M5 Dec 31, 2025 | $444.6M5 Dec 31, 2024 | −23.4% |
| Stakes in other companies (equity method) | $05 Dec 31, 2025 | $23.8M5 Dec 31, 2024 | −100.0% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, net | $4.7M5 Dec 31, 2025 | $2.5M5 Dec 31, 2024 | +90.2% |
Properties, in its own words
We present property level data for our Total Portfolio, except that we present historical capital expenditures for our Consolidated Portfolio. Commencing with the fourth quarter of 2024, we present the data for our In-Service Portfolio.
In-Service Office Portfolio Summary as of December 31, 2025
The rest of Item 2
Region · Westside · Valley · Honolulu · Total / Weighted Average
Number of Office Properties · 52 · 15 · 2 · 69
Our Rentable Square Feet · 10,000,661 · 6,334,572 · 1,190,835 · 17,526,068
Region Rentable Square Feet (1) · 39,387,351 · 13,889,773 · 5,339,375 · 58,616,499
Our Market Share(2) · 36.0 · 47.5 · 22.3 · 39.2
Our Percent Leased · 79.7 · 79.7 · 89.9 · 80.4
Our Annualized Rent · 438,390,903 · 166,339,123 · 39,292,153 · 644,022,179
Annualized Rent Per Leased Square Foot (3) · 57.49 · 34.29 · 37.84 · 47.65
Monthly Rent Per Leased Square Foot (3) · 4.79 · 2.86 · 3.15 · 3.97
_______________________________________________
(1) The rentable square feet in each region is based on the Rentable Square Feet as reported in the 2025 fourth quarter CBRE Marketview report for our submarkets in that region.
(2) Our market share is calculated by dividing our Rentable Square Feet by the applicable Region's Rentable Square Feet, weighted in the case of averages based on the square feet of exposure to our submarkets in each region. In calculating market share, we adjusted the rentable square footage by: (i) removing 62,000 rentable square feet for an office building in Honolulu that we are converting to residential apartments from both our rentable square footage and that of the region, and (ii) adding a 218,000 square foot property located just outside the Beverly Hills city limits to both the numerator and the denominator.
(3) Does not include signed leases not yet commenced, which are included in percent leased but excluded from Annualized Rent.
In-Service Office Portfolio Lease Diversification as of December 31, 2025
Portfolio Tenant Size
Median · Average
Square feet · 2,400 · 5,000
Office Leases · Rentable Square Feet · Annualized Rent
Square Feet Under Lease · Number · Percent · Amount · Percent · Amount · Percent
2,500 or less · 1,372 · 51.1 · 1,981,021 · 14.7 · 87,392,272 · 13.6
2,501-10,000 · 1,002 · 37.4 · 4,885,656 · 36.1 · 225,735,926 · 35.0
10,001-20,000 · 200 · 7.5 · 2,757,100 · 20.4 · 132,099,727 · 20.5
20,001-40,000 · 82 · 3.1 · 2,191,421 · 16.2 · 106,190,884 · 16.5
40,001-100,000 · 25 · 0.9 · 1,444,099 · 10.7 · 74,835,243 · 11.6
Greater than 100,000 · 1 · — · 255,884 · 1.9 · 17,768,127 · 2.8
Total for all leases · 2,682 · 100.0 · 13,515,181 · 100.0 · 644,022,179 · 100.0
In-Service Office Portfolio Largest Tenants as of December 31, 2025
The table below presents tenants paying 1% or more of our aggregate Annualized Rent:
Tenant · Number of Leases · Number of Properties · Lease Expiration(1) · Total Leased Square Feet · Percent of Rentable Square Feet · Annualized Rent · Percent of Annualized Rent
William Morris Endeavor(2) · 1 · 1 · 2037 · 255,884 · 1.4 · 17,768,127 · 2.8
Equinox Fitness(3) · 6 · 5 · 2029-2038 · 185,236 · 1.1 · 11,094,444 · 1.7
Morgan Stanley(4) · 5 · 5 · 2027-2030 · 145,062 · 0.8 · 11,076,807 · 1.7
UCLA(5) · 13 · 8 · 2026-2033 · 151,431 · 0.9 · 8,461,101 · 1.3
NKSFB · 2 · 2 · 2030 · 135,066 · 0.8 · 7,150,417 · 1.1
Total · 27 · 21 · 872,679 · 5.0 · 55,550,896 · 8.6
______________________________________________________
(1) Expiration dates are per lease (expiration dates do not reflect storage and similar leases).
(2) Tenant has the option to terminate its lease in 2033.
(3) Square footage (rounded) expires as follows: 34,000 square feet in 2029; 46,000 square feet in 2035; 31,000 square feet in 2037, and 74,000 square feet in 2038.
(4) Square footage (rounded) expires as follows: 89,000 square feet in 2027; 30,000 square feet in 2028; and 26,000 square feet in 2030.
(5) Square footage (rounded) expires as follows: 5 leases totaling 60,000 square feet in 2026; 2 leases totaling 18,000 square feet in 2028; 2 leases totaling 28,000 square feet in 2029; 1 lease totaling 12,000 square feet in 2030; 1 lease totaling 18,000 square feet in 2031; and 2 leases totaling 14,000 square feet in 2033.
In-Service Office Portfolio Industry Diversification as of December 31, 2025
Industry · Number of Leases · Annualized Rent as a Percent of Total
Legal · 597 · 19.7
Financial Services · 368 · 16.8
Real Estate · 315 · 13.3
Health Services · 396 · 9.9
Entertainment · 127 · 9.7
Accounting & Consulting · 304 · 9.2
Retail · 162 · 5.8
Technology · 88 · 5.0
Insurance · 85 · 3.0
Public Administration · 71 · 2.6
Educational Services · 37 · 2.2
Manufacturing & Distribution · 49 · 1.3
Advertising · 30 · 0.9
Other · 53 · 0.6
Total · 2,682 · 100.0
In-Service Office Portfolio Lease Expirations as of December 31, 2025 (assuming non-exercise of renewal options and early termination rights)
Year of Lease Expiration · Number ofLeases · RentableSquare Feet · ExpiringSquare Feetas a Percent of Total · Annualized Rent at December 31, 2025 · AnnualizedRent as aPercent of Total · AnnualizedRent PerLeased Square Foot(1) · AnnualizedRent PerLeasedSquareFoot at Expiration(2)
Short Term Leases · 69 · 243,726 · 1.4 · 8,959,051 · 1.4 · 36.76 · 36.76
2026 · 566 · 2,044,738 · 11.7 · 94,002,952 · 14.6 · 45.97 · 46.45
2027 · 543 · 2,256,727 · 12.9 · 106,378,736 · 16.5 · 47.14 · 49.74
2028 · 509 · 2,096,422 · 12.0 · 96,840,247 · 15.0 · 46.19 · 50.29
2029 · 328 · 1,637,970 · 9.3 · 72,985,214 · 11.3 · 44.56 · 48.53
2030 · 247 · 1,460,070 · 8.3 · 71,551,307 · 11.1 · 49.01 · 55.94
2031 · 167 · 1,019,033 · 5.8 · 49,019,854 · 7.6 · 48.10 · 54.57
2032 · 69 · 621,960 · 3.5 · 30,950,944 · 4.8 · 49.76 · 57.27
2033 · 66 · 495,474 · 2.8 · 25,824,145 · 4.0 · 52.12 · 66.23
2034 · 38 · 359,311 · 2.1 · 17,598,526 · 2.7 · 48.98 · 63.50
2035 · 35 · 333,504 · 1.9 · 16,799,573 · 2.6 · 50.37 · 67.11
Thereafter · 45 · 946,246 · 5.4 · 53,111,630 · 8.4 · 56.13 · 77.60
Item 2 of the 10-K filed Feb 20, 2026.4
Leadership
Who has led Douglas Emmett Inc, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerJordan L. Kaplan Oct 23, 2006 to now14
- ChairJordan L. Kaplan Dec 17, 2025 to now15
- ChairDan A. Emmett Oct 23, 2006 to Jun 12, 202316
- PresidentKenneth M. Panzer Dec 17, 2025 to now17
- PresidentJordan L. Kaplan Oct 23, 2006 to Dec 17, 202514
- Chief financial officerPeter Seymour Mar 6, 2019 to now18
- Chief financial officerMona Gisler Dec 13, 2016 to Dec 10, 201819
- Chief financial officerTheodore E. Guth Jan 18, 2012 to Dec 23, 201520
- Chief financial officerWilliam Kamer Oct 23, 2006 to Jan 20, 201121
- Chief operating officerKenneth M. Panzer Nov 1, 2006 to now22
Board members and other officers (22)
- EVP, GEN COUNSEL & SECYMichele L. Aronson Sep 12, 2023 to now23
- PAOMona Gisler May 20, 2015 to Dec 23, 201524
- Chief Investment OfficerKevin Andrew Crummy Jul 28, 2014 to now25
- Ch. Investment Officer, Treas.William Kamer Jan 18, 2012 to Dec 18, 201326
- EVP, SecyTheodore E. Guth Jan 5, 2011 to Jan 20, 201127
- Chief Accounting OfficerBarbara J. Orr Oct 23, 2006 to Nov 1, 200628
- SVP, Property ManagementAllan B. Golad Nov 1, 2006 to Nov 1, 200629
- EVP of FinanceAndres Gavinet Nov 1, 2006 to Jan 29, 200830
- SVP, Commercial LeasingMichael J. Means Nov 1, 2006 to Nov 1, 200631
- Board memberDan A. Emmett Dec 29, 2023 to now32
- Board memberShirley Wang Apr 7, 2022 to now33
- Board memberDorene Dominguez May 4, 2021 to now34
- Board memberJohnese Spisso Sep 6, 2019 to Jan 4, 202235
- Board memberVirginia McFerran Jun 1, 2015 to now36
- Board memberDavid Feinberg Jul 18, 2011 to Dec 29, 202337
- Board memberJordan L. Kaplan Oct 23, 2006 to now14
- Board memberAndrea L. Rich Nov 1, 2006 to Dec 28, 201238
- Board memberGhebre Selassie Mehreteab Nov 1, 2006 to Sep 9, 201039
- Board memberHern Thomas E. O. Nov 1, 2006 to now40
- Board memberKenneth M. Panzer Nov 1, 2006 to now22
- Board memberLeslie E. Bider Nov 1, 2006 to now41
- Board memberVictor J. Coleman Nov 3, 2006 to Mar 6, 200942
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- (fka DE 201 Santa Monica, LLC) California (1/29/2019)3
- (fka DE Owensmouth, LLC) California (1/29/2019)3
- (fka Douglas Emmett Realty Fund 1996, a CA limited partnership) California (12/12/2014)3
- (fka Douglas Emmett Realty Fund 1997, a CA limited partnership) California (8/19/2010)3
- (fka Douglas Emmett Realty Fund 2002, a CA limited partnership) California (8/19/2010)3
- (fka Douglas Emmett, LLC) California (8/30/2006)3
- 11633 BSVM, LLC Delaware (3/17/2023)3
- 11726 BEP, LLC Delaware (3/16/2023)3
- 11750 LMLA, LLC Delaware (3/17/2023)3
- 11980 BMP, LLC Delaware (3/16/2023)3
- 11990 Brentwood Court, LLC Delaware (3/16/2023)3
- 12400 Wilshire, LLC Delaware (3/16/2023)3
- 12424 Gateway, LLC Delaware (3/16/2023)3
- 15165 Columbus Center, LLC Delaware (3/16/2023)3
- 15910 Encino Plaza, LLC Delaware (3/16/2023)3
- 401 SM, LLC Delaware (3/17/2023)3
- 530 Wilshire, LLC Delaware (3/17/2023)3
- Barrington Pacific, LLC California (5/22/2001)3
- Brentwood Saltair, LLC Delaware (3/16/2023)3
- Carthay Campus, LLC Delaware (3/16/2023)3
- DE 100 Wilshire, LLC Delaware (6/4/2019)3
- DE 10990 Wilshire, LLC Delaware (1/28/2019)3
- DE 11777, LLC Delaware (6/4/2019)3
- DE 11900, LLC Delaware (3/16/2023)3
All 121 listed subsidiaries
- DE 12121 Wilshire, LP Delaware (5/10/2010)3
- DE 1221 Ocean, LLC Delaware (2/15/2022)3
- DE 16501, LLC Delaware (6/4/2019)3
- DE 16830, LLC Delaware (6/4/2019)3
- DE 555 Barrington, LLC Delaware (5/30/2025)3
- DE 8484 Wilshire, LLC Delaware (1/28/2019)3
- DE BHMC, LLC Delaware (3/23/2021)3
- DE Barrington Kiowa, LLC Delaware (6/9/2025)3
- DE Barry, LLC Delaware (5/30/2025)3
- DE Coral Plaza, LLC Delaware (7/9/2019)3
- DE Glendon Operating Company, LLC Delaware (5/6/2019)3
- DE Glendon, LLC Delaware (4/5/2019)3
- DE Kiowa, LLC Delaware (5/30/2025)3
- DE Landholdings, LP Delaware (5/10/2010)3
- DE Lincoln Wilshire, LLC Delaware (7/9/2019)3
- DE MBP, LLC Delaware (9/19/2019)3
- DE Ocean Avenue Manager, LLC Delaware (2/15/2022)3
- DE Ocean Avenue Member, LLC Delaware (2/15/2022)3
- DE Ocean Avenue REIT, Inc. Maryland (2/28/2022)3
- DE Ocean Avenue Venture, LLC Delaware (2/8/2022)3
- DE Pacific 12100, LLC Delaware (6/15/2016)3
- DE Pacific 1299, LLC Delaware (3/20/2017)3
- DE Pacific 233, LLC Delaware (7/25/2016)3
- DE Pacific 429, LLC Delaware (3/20/2017)3
- DE Pacific 9665, LLC Delaware (6/6/2017)3
- DE Pacific Manager, LLC Delaware (6/15/2016)3
- DE Pacific Member, LLC Delaware (6/15/2016)3
- DE Pacific Operating Company, LLC Delaware (6/15/2016)3
- DE Pacific Plaza, LLC Delaware (5/30/2025)3
- DE Pacific REIT, Inc. Maryland (7/5/2016)3
- DE Pacific Venture, LLC Delaware (6/15/2016)3
- DE Palisades Promenade, LLC Delaware (3/23/2021)3
- DE Park Avenue 10880, LLC Delaware (1/6/2016)3
- DE Park Avenue 10940, LLC Delaware (1/6/2016)3
- DE Park Avenue 10960, LLC Delaware (1/6/2016)3
- DE Park Avenue 1100, LLC Delaware (1/6/2016)3
- DE Park Avenue Manager, LLC Delaware (12/18/2015)3
- DE Park Avenue Member, LLC Delaware (12/18/2015)3
- DE Park Avenue Operating Company, LLC Delaware (12/18/2015)3
- DE Park Avenue REIT, Inc. Maryland (2/18/2016)3
- DE Park Avenue Venture, LLC Delaware (12/18/2015)3
- DE Rose Member, LLC Delaware (10/9/2020)3
- DE Rose Venture, LLC Delaware (12/02/2024)3
- DE Rose, LLC Delaware (12/02/2024)3
- DE SM Square, LLC Delaware (7/9/2019)3
- DE Saltair SV, LLC Delaware (6/4/2019)3
- DE Shores, LLC Delaware (6/9/2025)3
- DE VOP, LLC Delaware (7/9/2019)3
- DE Wilshire Canon, LLC Delaware (9/13/2017)3
- DEG Residential, LLC Delaware (1/3/2005)3
- DEG, LLC Delaware (7/28/2004)3
- DEGA, LLC Delaware (1/3/2005)3
- DEI X Partnership GP, LLC Delaware (1/27/2010)3
- DEI X Partnership REIT, LP Delaware (4/21/2010)3
- DEIX, LLC Delaware (7/14/2008)3
- Douglas Emmett 1993, LLC Delaware (6/10/2004)3
- Douglas Emmett 1995, LLC Delaware (5/26/2004)3
- Douglas Emmett 1996, LLC Delaware (11/9/2004)3
- Douglas Emmett 1997, LLC Delaware (6/7/2005)3
- Douglas Emmett 1998, LLC Delaware (6/7/2005)3
- Douglas Emmett 2000, LLC Delaware (6/7/2005)3
- Douglas Emmett 2007, LLC Delaware (3/19/2007)3
- Douglas Emmett 2008, LLC Delaware (3/10/2008)3
- Douglas Emmett 2010, LLC Delaware (5/18/2010)3
- Douglas Emmett 2011, LLC Delaware (11/30/2011)3
- Douglas Emmett 2013, LLC California (3/23/2004)3
- Douglas Emmett 2014, LLC Delaware (7/9/2015)3
- Douglas Emmett 2015, LLC Delaware (2/5/2015)3
- Douglas Emmett 2016, LLC Delaware (10/5/2016)3
- Douglas Emmett Builders California (10/18/1991)3
- Douglas Emmett Builders Hawaii, LLC Delaware (3/1/2011)3
- Douglas Emmett Fund X, LLC Delaware (6/20/2008)3
- Douglas Emmett Joint Venture, LLC Delaware (8/17/2010)3
- Douglas Emmett Management Hawaii, LLC Delaware (1/17/2007)3
- Douglas Emmett Management, Inc. Delaware (7/25/2005)3
- Douglas Emmett Management, LLC Delaware (8/25/2006)3
- Douglas Emmett Partnership X, LP Delaware (1/27/2010)3
- Douglas Emmett Properties, LP Delaware (7/25/2005)3
- Douglas Emmett Realty Fund 1995, LLC Delaware (8/17/2010)3
- Douglas Emmett Realty Fund 1996, LLC Delaware (8/17/2010)3
- Douglas Emmett Realty Fund 1997, LLC Delaware (8/17/2010)3
- Douglas Emmett Realty Fund 1998, LLC Delaware (8/17/2010)3
- Douglas Emmett Realty Fund 2000, LLC Delaware (8/17/2010)3
- Douglas Emmett Realty Fund 2002, LLC Delaware (8/17/2010)3
- Douglas Emmett Realty Fund, LLC Delaware (8/17/2010)3
- Douglas Emmett Residential 2005, LLC Delaware (5/31/2005)3
- Douglas Emmett Residential 2006, LLC Delaware (11/16/2006)3
- Douglas Emmett Residential 2014, LLC Delaware (9/30/2014)3
- Douglas Emmett Studio Plaza, LLC Delaware (12/2/2016)3
- Douglas Emmett, Inc. Maryland (6/28/2005)3
- Encino Gateway, LLC Delaware (3/16/2023)3
- Harbor Court, LLC Delaware (4/25/2023)3
- Landmark Park, LLC Delaware (3/29/2023)3
- Qualified in California (10/5/2006)3
- San Vicente Plaza , LLC Delaware (3/16/2023)3
- Shores Barrington, LLC Delaware (10/18/2004)3
- Westwood Place Investors, LLC Delaware (3/11/1999)3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 4, 20268-K Results of operations43
- Jun 3, 20268-K Executive or director change; Shareholder vote44
- May 5, 20268-K Results of operations45
- Apr 10, 20268-K Executive or director change46
- Feb 10, 20268-K Results of operations47
- Dec 10, 20258-K Executive or director change48
- Nov 4, 20258-K Results of operations49
- Aug 5, 20258-K Results of operations50
- Jun 2, 20258-K Shareholder vote51
- May 6, 20258-K Results of operations52
- Apr 21, 20258-K Executive or director change53
- Feb 4, 20258-K Results of operations54
- Oct 23, 2006New chief executive Jordan L. Kaplan becomes CEO14
Calendar
Coming up
- Nov 3, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.34 a share, on Nov 4, 2025.55
When it reported results
- Aug 4, 2026Reported quarterly or annual results43
- May 5, 2026Reported quarterly or annual results45
- Feb 10, 2026Reported quarterly or annual results47
- Nov 4, 2025Reported quarterly or annual results49
- Aug 5, 2025Reported quarterly or annual results50
- May 6, 2025Reported quarterly or annual results52
- Feb 4, 2025Reported quarterly or annual results54
- Nov 4, 2024Reported quarterly or annual results56
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
179 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 32 major events, 81 insider forms, 25 large holders, 21 other. The latest 20:
- Oct 9, 20263 EDGAR
- Aug 10, 2026S-8 EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 4, 20268-K EDGAR
- Jun 3, 20268-K EDGAR
- May 13, 2026SCHEDULE 13G EDGAR
- May 8, 202610-Q EDGAR
- May 5, 20268-K EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
- Apr 17, 2026ARS EDGAR
- Apr 17, 2026DEF 14A EDGAR
- Apr 10, 20264/A EDGAR
- Apr 10, 20264/A EDGAR
- Apr 10, 20268-K EDGAR
- Mar 26, 2026SCHEDULE 13G/A EDGAR
- Feb 20, 202610-K EDGAR
- Feb 18, 20264 EDGAR
- Feb 10, 20268-K EDGAR
- Dec 17, 20254 EDGAR
The 179 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
12 open-market trades by officers, directors and large owners since October 2021: 11 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Feb 13, 2026 | Kaplan Jordan LChairman and CEO | Buy | 98,000 | $10.18 | $997.6K | Form 4 |
| Nov 17, 2025 | Aronson Michele LEVP, GEN COUNSEL & SECRETARY | Buy | 34,626 | $11.68 | $404.4K | Form 4 |
| Nov 14, 2025 | Aronson Michele LEVP, GEN COUNSEL & SECRETARY | Buy | 7,500 | $11.75 | $88.1K | Form 4 |
| Jun 10, 2024 | SIMON WILLIAM E JRDirector | Buy | 45,000 | $13.15 | $591.8K | Form 4 |
| Dec 6, 2023 | SIMON WILLIAM E JRDirector | Sale | 91,000 | $13.95 | $1.3M | Form 4 |
| Jun 8, 2023 | SIMON WILLIAM E JRDirector | Buy | 10,000 | $12.42 | $124.2K | Form 4 |
| Sep 28, 2022 | SIMON WILLIAM E JRDirector | Buy | 13,200 | $18.73 | $247.2K | Form 4 |
| Sep 8, 2022 | Wang ShirleyDirector | Buy | 284,000 | $21.17 | $6.0M | Form 4 |
| Sep 7, 2022 | Kaplan Jordan LChairman and CEO | Buy | 48,750 | $20.48 | $998.4K | Form 4 |
| Sep 2, 2022 | Feinberg David TDirector | Buy | 25,000 | $20.31 | $507.8K | Form 4 |
| Aug 31, 2022 | SIMON WILLIAM E JRDirector | Buy | 25,000 | $19.89 | $497.2K | Form 4 |
| Aug 31, 2022 | Bider Leslie EDirector | Buy | 25,000 | $19.94 | $498.5K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- First Pacific Advisors, LPSCHEDULE 13G, 1 filing May 13, 202657
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202658
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202659
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 9, 2022 to Mar 26, 202660
- FMR LLCSCHEDULE 13G/A, 4 filings Feb 9, 2022 to Nov 5, 202561
- Wellington Management CompanySCHEDULE 13G/A, 3 filings Feb 9, 2024 to May 12, 202562
- First Eagle Investment Management, LLCSC 13G/A, 2 filings Feb 9, 2023 to Feb 9, 202463
- State Street CorporationSC 13G/A, 2 filings Jan 20, 2023 to Jan 30, 202464
- BlackRockSC 13G/A, 5 filings Jan 26, 2022 to Jan 23, 202465
- NORGES BANKSC 13G/A, 2 filings Nov 17, 2022 to Feb 14, 202366
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Jordan L. Kaplan | 64 | $800.0K | $9.0M67 |
| 2025 | Kenneth M. Panzer | 65 | $800.0K | $9.0M67 |
| 2025 | Peter D. Seymour | 57 | $550.0K | $2.3M67 |
| 2025 | Michele L. Aronson | 56 | $450.0K | $2.3M67 |
| 2025 | Kevin A. Crummy | 60 | $600.0K | $1.8M67 |
| 2024 | President and COO | $800.0K | $9.1M67 | |
| 2024 | Chairman and CEO | $800.0K | $9.1M67 | |
| 2024 | CFO | $550.0K | $2.2M67 | |
| 2024 | CIO | $600.0K | $2.1M67 | |
| 2024 | EVPGC and Secretary | $450.0K | $2.0M67 | |
| 2023 | Chairman and CEO | $800.0K | $8.2M67 | |
| 2023 | President and COO | $800.0K | $8.2M67 | |
| 2023 | CIO | $600.0K | $2.1M67 | |
| 2023 | CFO | $550.0K | $2.0M67 | |
| 2023 | EVPGC and Secretary | $450.0K | $1.9M67 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| First Eagle Investment Management, LLC | 27,916,656 | $329.4M | 0.3% | +13,958,603 |
| BlackRock, Inc. | 24,390,075 | $287.8M | 0.0% | +2,368 |
| Vanguard Portfolio Management LLC | 16,415,766 | $193.7M | 0.0% | −94,999 |
| State Street Corp | 9,462,313 | $113.4M | 0.0% | −2,891 |
| First Pacific Advisors, LP | 8,743,999 | $103.2M | 1.3% | +107,029 |
| Vanguard Capital Management LLC | 7,246,985 | $85.5M | 0.0% | −84,860 |
| Arrowstreet Capital, Limited Partnership | 5,308,249 | $62.6M | 0.0% | +2,060,105 |
| Fmr LLC | 4,935,809 | $58.2M | 0.0% | −153,726 |
| Geode Capital Management, LLC | 4,695,782 | $55.4M | 0.0% | +250,748 |
| Balyasny Asset Management L.P. | 4,538,823 | $53.6M | 0.1% | +1,976,340 |
| Charles Schwab Investment Management Inc | 4,146,660 | $48.9M | 0.0% | +206,571 |
| Goldman Sachs Group Inc | 3,600,448 | $42.5M | 0.0% | +122,153 |
| Schroder Investment Management Group | 2,954,311 | $34.4M | 0.0% | +1,850,459 |
| Victory Capital Management Inc | 2,577,217 | $30.4M | 0.0% | +232,995 |
| Morgan Stanley | 2,412,265 | $28.5M | 0.0% | +266,553 |
| Aqr Capital Management LLC | 2,353,329 | $27.8M | 0.0% | +1,721,730 |
| Jpmorgan Chase & Co | 2,334,047 | $27.7M | 0.0% | +589,017 |
| First Manhattan Co. Llc. | 2,305,457 | $27.6M | 0.1% | +51,183 |
| Legal & General Group Plc | 2,336,573 | $27.6M | 0.0% | +79,857 |
| Dimensional Fund Advisors LP | 2,236,952 | $26.4M | 0.0% | +165,992 |
| Hsbc Holdings PLC | 2,202,536 | $26.3M | 0.0% | +76,513 |
| Northern Trust Corp | 2,130,581 | $25.1M | 0.0% | +69,829 |
| Ameriprise Financial Inc | 2,072,382 | $24.5M | 0.0% | +184,850 |
| Millennium Management LLC | 1,873,798 | $22.1M | 0.0% | −421,953 |
| Bank of New York Mellon Corp | 1,525,598 | $18.0M | 0.0% | +158,614 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Mar 6, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $1,001 - $15,000 | +122.7% | Report |
| Mar 1, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $1,001 - $15,000 | +126.6% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Douglas Emmett Inc is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARDouglas Emmett Inc1
- CIK0001364250
- Employer ID (EIN)20-30730474
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inMaryland4
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address1299 Ocean Avenue, Suite 1000, Santa Monica, CA 904011
- Phone310-255-77001
- Shares outstanding167,485,267 as of Jul 31, 202612
- Public float$2.4B as of Jun 30, 20254
- AuditorErnst & Young LLP, Los Angeles California PCAOB ID 42; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceJun 16, 20061
- Filings957 in all: 4 (415), 8-K (152), SC 13G/A (97), 10-Q (60), SC 13G (41), 3 (30), UPLOAD (25), 10-K (20)1
All 40 form types
DEF 14A (20), CORRESP (16), 4/A (10), 424B5 (6), ARS (6), S-11/A (6), S-3ASR (6), SC 13D/A (6), S-8 (5), 8-K/A (4), SCHEDULE 13G (4), DEFA14A (3), SC 13D (3), SCHEDULE 13G/A (3), EFFECT (2), 10-Q/A (1), 144 (1), 18-K (1), 424B3 (1), 424B4 (1), 424B7 (1), 5 (1), 8-A12B (1), CERTNYS (1), CT ORDER (1), D (1), POS EX (1), PX14A6G (1), REGDEX (1), S-11 (1), S-11MEF (1), S-3 (1)
- Latest filingsAnnual report (10-K) Feb 20, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Apr 17, 2026
Latest 8-K (8-K) Aug 4, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 par value per share | DEI | New York Stock Exchange |
From the cover page of the 10-K filed Feb 20, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Douglas Emmett Inc names in Item 1A of its 10-K filed Feb 20, 2026: 55 risks under these headings, as written.4
- Risks Related to Our Properties and Our Business
- The continuation of or further increases in inflation could adversely impact our operating results, cash flows, financial position, our ability to pay dividends and distributions, and the market price of our common stock.
- Economic and political changes could adversely affect our business, operating results, cash flows, financial position, our ability to pay dividends and distributions, and the market price of our common stock.
- All of our properties are located in Los Angeles County, California, and Honolulu, Hawaii, and we are therefore exposed to greater risk than if we owned a more geographically diverse portfolio. Our properties in Los Angeles County are concentrated in certain submarkets, exposing us to risks associated with those specific areas.
- Our operating performance and the market value of our common stock are subject to risks associated with our investments in real estate and with trends in the real estate industry.
- We have a substantial amount of debt, which exposes us to interest rate fluctuation risk and the risk of not being able to refinance our debt, which in turn could expose us to the risk of default under our debt obligations.
- The rents we receive from new leases may be less than our asking rents, and we may experience rent roll-down from time to time.
- Although we have a diverse tenant base, a large portion of our tenants operate in a concentrated group of industries and downturns in these industries could adversely affect our financial condition, results of operations and cash flows.
- In order to successfully compete against other properties, we need to maintain, repair, and renovate our properties, which reduces our cash flows.
- We face intense competition, which could adversely impact the occupancy and rental rates of our properties.
- Epidemics, pandemics or other outbreaks, and restrictions intended to prevent their spread, may adversely affect our business, financial position, results of operations, cash flows, our ability to service our debt, our ability to pay dividends to our stockholders, our REIT status, our ability to capitalize on business opportunities as they arise, our ability to raise capital, and/or the market price of our common stock.
- Potential losses, including from adverse weather conditions, natural disasters and title claims, may not be covered by insurance.
The other 44 risks
- We may be unable to renew leases or lease vacant space.
- Our business strategy for our office portfolio focuses on leasing to smaller-sized tenants which may present greater credit risks.
- Real estate investments are generally illiquid.
- We may incur significant costs to comply with laws, regulations and covenants.
- Because we own real property, we are subject to extensive environmental regulations, which create uncertainty regarding future environmental expenditures and liabilities.
- Our properties may contain or develop harmful mold or suffer from other air quality issues, which could lead to liability for adverse health effects and costs of remediation.
- Rent control or rent stabilization legislation and other regulatory restrictions may limit our ability to increase rents and pass through new or increased operating costs to our tenants.
- We may be unable to complete acquisitions that would grow our business, or successfully integrate and operate acquired properties.
- We may be unable to successfully expand our operations into new markets and submarkets.
- We are exposed to risks associated with property development.
- We are exposed to certain risks when we enter into JVs or issue securities of our subsidiaries, including our Operating Partnership.
- If we default on the ground lease to which one of our properties is subject, our business could be adversely affected.
- We may not have sufficient cash available for distribution to stockholders at expected levels in the future.
- We face risks associated with contractual counterparties being designated “Prohibited Persons” by the Office of Foreign Assets Control.
- Terrorism and war could harm our business and operating results.
- Risks Related to Our Organization and Structure
- Tax consequences to holders of OP Units upon a sale or refinancing of our properties may cause the interests of our executive officers to differ from the interests of our stockholders.
- Our executive officers have significant influence over our affairs.
- Under their employment agreements, certain of our executive officers will receive severance if they are terminated without cause or resign for good reason.
- The loss of any of our executive officers or key senior personnel could significantly harm our business.
- Compensation awards to our management may not be tied to or correspond with improved financial results or the market price of our common stock.
- Our board of directors may change significant corporate policies without stockholder approval.
- Our growth depends on external sources of capital which are outside of our control.
- We face risks associated with short-term liquid investments.
- Our charter, the partnership agreement of our Operating Partnership, and Maryland law contain provisions that may delay or prevent a change of control transaction.
- (i) Our charter contains a five percent ownership limit.
- (ii) Our board of directors may create and issue a class or series of preferred stock without stockholder approval.
- (iii) Certain provisions in the partnership agreement of our Operating Partnership may delay or prevent an unsolicited acquisition of us.
- (iv) Certain provisions of Maryland law could inhibit changes in control.
- Our fiduciary duties as the sole stockholder of the general partner of our Operating Partnership could create conflicts of interest.
- Risks Related to Taxes and Our Status as a REIT
- Our property taxes could increase due to property tax rate changes, reassessments or changes in property tax laws, which would adversely impact our cash flows.
- Transfer taxes like those imposed by Los Angeles Measure ULA could have a negative impact on our property valuations and our ability to acquire or sell properties at favorable prices or on a timely basis.
- Failure to qualify as a REIT would subject us to corporate taxation and potentially reduce cash available for distributions.
- If the Operating Partnership, or any of its subsidiaries (other than any TRS), were treated as a regular corporation for federal income tax purposes, we could cease to qualify as a REIT.
- Even if we qualify as a REIT, we will be required to pay some taxes which would reduce cash available for distributions.
- REIT distribution requirements could adversely affect our liquidity and cause us to forego otherwise attractive opportunities.
- REIT stockholders can receive taxable income without cash distributions.
- If a transaction intended to qualify as a Section 1031 Exchange is later determined to be taxable or if we are unable to identify and complete the acquisition of a suitable replacement property to effect a Section 1031 Exchange, we may face adverse consequences, and if the laws applicable to such transactions are amended or repealed, we may not be able to dispose of properties on a tax deferred basis.
- Legislative or other actions affecting REITs could have a negative effect on our investors or us, including our ability to maintain our qualification as a REIT or the federal income tax consequences of such qualification.
- Non-U.S. investors may be subject to FIRPTA, which would impose tax on certain distributions and on the sale of common stock if we are unable to qualify as a “domestically controlled” REIT or if our stock is not considered to be regularly traded on an established securities market.
- General Risks
- Security breaches through cyber attacks, cyber intrusions or otherwise, could cause loss of confidential information, as well as significant disruptions of our IT networks and related systems, which could harm our business.
- The use of AI technologies presents certain risks that may adversely affect our business and operations.
- Litigation could have an adverse effect on our business.
- If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results.
- New accounting pronouncements could adversely affect our operating results or the reported financial performance of our tenants.
Legal proceedings
From time to time, we are party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of our business. Excluding ordinary, routine litigation incidental to our business, we are not currently a party to any legal proceedings that we believe would reasonably be expected to have a materially adverse effect on our business, financial condition or results of operations. See "Legal Proceedings" in Note 17 to our consolidated financial statements in Item 15 of this Report.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGARJordan L. Kaplan, Chair
- 16SEC EDGARDan A. Emmett, Chair
- 17SEC EDGARKenneth M. Panzer, President
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- 19SEC EDGARMona Gisler, Chief financial officer
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- 24SEC EDGARMona Gisler, PAO
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- 27SEC EDGARTheodore E. Guth, EVP, Secy
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- 30SEC EDGARAndres Gavinet, EVP of Finance
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- 32SEC EDGARDan A. Emmett, Board member
- 33SEC EDGARShirley Wang, Board member
- 34SEC EDGARDorene Dominguez, Board member
- 35SEC EDGARJohnese Spisso, Board member
- 36SEC EDGARVirginia McFerran, Board member
- 37SEC EDGARDavid Feinberg, Board member
- 38SEC EDGARAndrea L. Rich, Board member
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- 40SEC EDGARHern Thomas E. O., Board member
- 41SEC EDGARLeslie E. Bider, Board member
- 42SEC EDGARVictor J. Coleman, Board member
- 43SEC EDGARResults of operations
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- 45SEC EDGARResults of operations
- 46SEC EDGARExecutive or director change
- 47SEC EDGARResults of operations
- 48SEC EDGARExecutive or director change
- 49SEC EDGARResults of operations
- 50SEC EDGARResults of operations
- 51SEC EDGARShareholder vote
- 52SEC EDGARResults of operations
- 53SEC EDGARExecutive or director change
- 54SEC EDGARResults of operations
- 55NasdaqNasdaq calendar
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