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

Easterly Government Properties (NYSE:DEA - Get Free Report) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.73 EPS for the quarter, hitting analysts' consensus estimates of $0.73, Zacks reports. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The business had revenue of $78.68 million for the quarter, compared to analyst estimates of $80.67 million. During the same period last year, the company posted $0.29 earnings per share. Easterly Government Properties's quarterly revenue was up 8.1% compared to the same quarter last year.

Easterly Government Properties Stock Performance

Shares of Easterly Government Properties stock traded up $0.58 during trading hours on Friday, reaching $21.21. The company had a trading volume of 833,810 shares, compared to its average volume of 483,520. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.01 and a quick ratio of 4.01. Easterly Government Properties has a one year low of $19.33 and a one year high of $36.31. The firm has a market cap of $952.44 million, a PE ratio of 117.83 and a beta of 0.90. The business has a fifty day simple moving average of $24.31 and a 200 day simple moving average of $27.92.

Easterly Government Properties Cuts Dividend

The firm also recently announced a dividend, which will be paid on Saturday, May 17th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, May 5th. This represents a yield of 8.92%. Easterly Government Properties's payout ratio is 171.43%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DEA. StockNews.com downgraded shares of Easterly Government Properties from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Royal Bank of Canada lowered their price target on shares of Easterly Government Properties from $30.00 to $27.50 and set an "underperform" rating on the stock in a report on Monday, March 10th. Compass Point reiterated a "neutral" rating and issued a $23.75 price objective (down previously from $37.50) on shares of Easterly Government Properties in a research note on Thursday, April 10th. Finally, Jefferies Financial Group initiated coverage on Easterly Government Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $32.50 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $29.06.

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.