Easterly Government Properties (NYSE:DEA) Releases Quarterly Earnings Results

Key Points

• Easterly Government Properties beat quarterly earnings expectations, reporting $0.78 per share versus the $0.06 consensus estimate. Revenue increased 9.8% year over year, while net margin was 3.22%.
• The company declared a quarterly dividend of $0.45 per share, equating to $1.80 annually and a 7.4% yield; the dividend is payable August 20 to shareholders of record August 10.
• DEA shares were down 0.1% at $24.33, while analysts maintained a consensus “Hold” rating with an average price target of $23.11. Institutional investors and hedge funds own 86.51% of the stock.

Easterly Government Properties (NYSE:DEA - Get Free Report) released its quarterly earnings results on Monday. The real estate investment trust reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.72, Briefing.com reports. Easterly Government Properties had a net margin of 3.22% and a return on equity of 0.82%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS.

Easterly Government Properties Trading Down 0.1%

Shares of Easterly Government Properties stock opened at $24.33 on Monday. Easterly Government Properties has a 12-month low of $20.56 and a 12-month high of $25.96. The firm's 50 day simple moving average is $24.47 and its two-hundred day simple moving average is $23.52. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 101.36 and a beta of 0.97.

Easterly Government Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Monday, August 10th. Easterly Government Properties's payout ratio is currently 750.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Easterly Government Properties by 215.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,130 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 772 shares during the last quarter. Parallel Advisors LLC lifted its stake in Easterly Government Properties by 318.2% during the 3rd quarter. Parallel Advisors LLC now owns 1,334 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 1,015 shares during the period. Colonial Trust Co SC purchased a new stake in shares of Easterly Government Properties in the 4th quarter valued at $34,000. US Bancorp DE increased its stake in shares of Easterly Government Properties by 237.9% in the third quarter. US Bancorp DE now owns 1,757 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 1,237 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Easterly Government Properties during the third quarter worth $69,000. 86.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Easterly Government Properties

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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