Easterly Government Properties (NYSE:DEA) Reaches New 12-Month High - Still a Buy?

Key Points

• Easterly Government Properties hit a new 52-week high, trading as high as $25.68 after closing at $24.83 the prior day, reflecting recent upward momentum in the stock.
• Analyst sentiment is mixed but cautious: the stock currently has a consensus Hold rating with an average price target of $23.11, below the recent trading price. Recent rating changes included a downgrade from Wall Street Zen and an upgrade from Weiss Ratings.
• The REIT recently paid a quarterly dividend of $0.45 per share, annualizing to $1.80 for a 7.0% yield, though the payout ratio is very high at 750%.

Shares of Easterly Government Properties, Inc. (NYSE:DEA - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $25.68 and last traded at $25.65, with a volume of 113657 shares trading hands. The stock had previously closed at $24.83.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DEA. Wall Street Zen cut Easterly Government Properties from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded shares of Easterly Government Properties from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $23.11.

Easterly Government Properties Price Performance

The business has a fifty day moving average of $24.04 and a 200 day moving average of $23.22. The firm has a market cap of $1.19 billion, a P/E ratio of 106.96 and a beta of 0.97. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 1.26.

Easterly Government Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.0%. Easterly Government Properties's payout ratio is presently 750.00%.

Institutional Investors Weigh In On Easterly Government Properties

Several hedge funds have recently added to or reduced their stakes in DEA. AQR Capital Management LLC increased its holdings in shares of Easterly Government Properties by 197.5% in the first quarter. AQR Capital Management LLC now owns 95,596 shares of the real estate investment trust's stock valued at $1,013,000 after purchasing an additional 63,463 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Easterly Government Properties by 1,759.2% during the 1st quarter. Millennium Management LLC now owns 1,000,176 shares of the real estate investment trust's stock worth $10,602,000 after buying an additional 946,381 shares during the last quarter. NewEdge Advisors LLC boosted its holdings 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 worth $111,000 after buying an additional 10,406 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 worth $7,569,000 after buying an additional 7,785 shares during the period. Finally, Jane Street Group LLC grew its stake 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 valued at $1,226,000 after buying an additional 84,536 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Easterly Government Properties Company Profile

Easterly Government Properties, Inc is a real estate investment trust that specializes in the acquisition, development and management of commercial properties leased to U.S. government agencies. Structured as a triple-net lease REIT, the company focuses on single-tenant assets with long-term, credit-backed leases that transfer most property-level responsibilities—including taxes, insurance and maintenance—to its government tenants.

The firm’s portfolio encompasses a variety of facility types, including office buildings, training centers, laboratories and mission-critical installations used by federal agencies.

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