Easterly Government Properties (NYSE:DEA) Posts Earnings Results, Hits Expectations

Key Points

• Easterly Government Properties reported earnings of $0.74 per share for the latest quarter, meeting analysts' expectations, despite revenue falling short at $80.37 million against a projection of $81.73 million.
• The company's dividend was recently declared at $0.45 per share, reflecting a yield of 8.1% and an unusually high payout ratio of 171.43%.
• Stock performance showed a decline of 0.8%, trading at $22.11, with analysts providing mixed ratings and a consensus target price of $27.15.

Easterly Government Properties (NYSE:DEA - Get Free Report) issued its earnings results on Tuesday. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74, Zacks reports. The company had revenue of $80.37 million during the quarter, compared to analyst estimates of $81.73 million. Easterly Government Properties had a return on equity of 1.26% and a net margin of 5.54%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Easterly Government Properties updated its FY 2025 guidance to 2.980-3.030 EPS.

Easterly Government Properties Price Performance

Shares of NYSE:DEA traded down $0.27 during trading on Friday, reaching $22.11. 374,781 shares of the company's stock traded hands, compared to its average volume of 433,757. Easterly Government Properties has a fifty-two week low of $19.33 and a fifty-two week high of $36.31. The company has a quick ratio of 4.90, a current ratio of 3.75 and a debt-to-equity ratio of 1.24. The firm has a market cap of $1.00 billion, a PE ratio of 53.92 and a beta of 0.94. The company has a 50-day simple moving average of $22.60 and a 200-day simple moving average of $23.80.

Easterly Government Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.1%. Easterly Government Properties's dividend payout ratio (DPR) is 175.61%.

Institutional Investors Weigh In On Easterly Government Properties

A number of institutional investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Easterly Government Properties by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 714,042 shares of the real estate investment trust's stock valued at $7,569,000 after acquiring an additional 7,785 shares during the period. NewEdge Advisors LLC grew its position in shares of Easterly Government Properties by 12,846.9% during the 1st quarter. NewEdge Advisors LLC now owns 10,487 shares of the real estate investment trust's stock valued at $111,000 after acquiring an additional 10,406 shares during the period. Intech Investment Management LLC grew its position in shares of Easterly Government Properties by 87.6% during the 1st quarter. Intech Investment Management LLC now owns 111,019 shares of the real estate investment trust's stock valued at $1,177,000 after acquiring an additional 51,832 shares during the period. AQR Capital Management LLC boosted its holdings in Easterly Government Properties by 197.5% in the 1st quarter. AQR Capital Management LLC now owns 95,596 shares of the real estate investment trust's stock worth $1,013,000 after buying an additional 63,463 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Easterly Government Properties by 271.5% in the 1st quarter. Jane Street Group LLC now owns 115,677 shares of the real estate investment trust's stock worth $1,226,000 after buying an additional 84,536 shares during the last quarter. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DEA shares. BMO Capital Markets upgraded Easterly Government Properties from a "strong sell" rating to a "hold" rating and set a $25.00 target price for the company in a research note on Wednesday, July 16th. Royal Bank Of Canada reduced their price objective on Easterly Government Properties from $27.50 to $22.00 and set an "underperform" rating for the company in a research note on Monday, June 2nd. Finally, Wall Street Zen lowered Easterly Government Properties from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.15.

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.