Royal Bank of Canada Cuts Easterly Government Properties (NYSE:DEA) Price Target to $22.00

Easterly Government Properties (NYSE:DEA - Get Free Report) had its target price decreased by investment analysts at Royal Bank of Canada from $27.50 to $22.00 in a report issued on Monday,Benzinga reports. The firm presently has an "underperform" rating on the real estate investment trust's stock. Royal Bank of Canada's price objective would indicate a potential upside of 1.62% from the stock's previous close.

DEA has been the subject of several other reports. Wall Street Zen cut Easterly Government Properties from a "hold" rating to a "sell" rating in a report on Wednesday, May 7th. Jefferies Financial Group began coverage on Easterly Government Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $32.50 price target for the company. Finally, Compass Point reissued a "neutral" rating and issued a $23.75 price target (down from $37.50) on shares of Easterly Government Properties in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $27.69.

Easterly Government Properties Trading Up 0.3%

Shares of Easterly Government Properties stock traded up $0.07 on Monday, reaching $21.65. The company had a trading volume of 320,934 shares, compared to its average volume of 504,157. The firm has a market cap of $972.19 million, a price-to-earnings ratio of 120.28 and a beta of 0.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.01 and a quick ratio of 4.01. The firm's 50-day moving average price is $21.85 and its two-hundred day moving average price is $25.99. Easterly Government Properties has a 1 year low of $19.33 and a 1 year high of $36.31.

Easterly Government Properties (NYSE:DEA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.73. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The company had revenue of $78.68 million during the quarter, compared to analysts' expectations of $80.67 million. During the same quarter in the previous year, the business earned $0.29 EPS. Easterly Government Properties's revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Easterly Government Properties will post 1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in shares of Easterly Government Properties by 1,759.2% in the first quarter. Millennium Management LLC now owns 1,000,176 shares of the real estate investment trust's stock valued at $10,602,000 after purchasing an additional 946,381 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Easterly Government Properties in the fourth quarter valued at about $10,394,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Easterly Government Properties by 74.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,861,478 shares of the real estate investment trust's stock valued at $21,146,000 after purchasing an additional 795,058 shares during the period. Nuveen LLC acquired a new position in shares of Easterly Government Properties in the first quarter valued at about $7,487,000. Finally, Invesco Ltd. increased its holdings in shares of Easterly Government Properties by 48.7% in the fourth quarter. Invesco Ltd. now owns 2,056,248 shares of the real estate investment trust's stock valued at $23,359,000 after purchasing an additional 673,270 shares during the period. 86.51% of the stock is owned by institutional investors and hedge funds.

About Easterly Government Properties

Easterly Government Properties, Inc NYSE: DEA is based in Washington, DC, and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly's experienced management team brings specialized insight into the strategy and needs of mission-critical U.S.