Easterly Government Properties (NYSE:DEA) Announces Earnings Results

Key Points

• Easterly Government Properties beat quarterly expectations: The REIT reported EPS of $0.11 versus the $0.07 consensus estimate, while revenue reached $93.61 million compared with analysts’ $91.72 million forecast.
• The company declared a $0.45 quarterly dividend, equivalent to $1.80 annually and an 8.0% yield. The payout ratio stood at 857.14%.
• Analyst sentiment remains cautious: DEA has a consensus “Hold” rating and a $25.80 average price target, compared with its $22.64 opening price.

Easterly Government Properties (NYSE:DEA - Get Free Report) released its quarterly earnings data on Monday. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04, FiscalAI reports. Easterly Government Properties had a return on equity of 0.75% and a net margin of 2.86%. The firm had revenue of $93.61 million for the quarter, compared to analyst estimates of $91.72 million.

Easterly Government Properties Stock Performance

NYSE DEA opened at $22.64 on Monday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 107.81 and a beta of 0.99. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.26. Easterly Government Properties has a twelve month low of $20.56 and a twelve month high of $25.96. The stock has a fifty day simple moving average of $23.50 and a 200 day simple moving average of $23.87.

Easterly Government Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Thursday, November 5th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.80 annualized dividend and a dividend yield of 8.0%. Easterly Government Properties's payout ratio is currently 857.14%.

Analyst Ratings Changes

DEA has been the subject of a number of research reports. Royal Bank Of Canada reissued an "underperform" rating and set a $24.00 target price (up from $22.00) on shares of Easterly Government Properties in a report on Monday, August 24th. Truist Financial raised their price target on shares of Easterly Government Properties from $24.00 to $26.00 and gave the stock a "hold" rating in a research report on Thursday, August 27th. BMO Capital Markets reiterated a "market perform" rating and issued a $27.00 price objective (up from $25.00) on shares of Easterly Government Properties in a research note on Monday, August 3rd. Wall Street Zen raised shares of Easterly Government Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Citigroup restated a "neutral" rating and set a $25.00 target price (up from $23.00) on shares of Easterly Government Properties in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Easterly Government Properties has a consensus rating of "Hold" and a consensus target price of $25.80.

Easterly Government Properties Company Profile

Easterly Government Properties, Inc is a real estate investment trust (REIT) that acquires, develops, owns and manages properties leased primarily to government agencies. Its portfolio is focused on mission-critical facilities, including offices, medical and healthcare-related buildings, laboratories, courthouses and other specialized properties used by federal, state and local government tenants.

Founded in 2011 and headquartered in Washington, DC, Easterly became a publicly traded company in 2015.

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