Easterly Government Properties (NYSE:DEA) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Easterly Government Properties, Inc. (NYSE:DEA - Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $21.42 and traded as high as $23.18. Easterly Government Properties shares last traded at $22.93, with a volume of 638,957 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DEA shares. Compass Point restated a "neutral" rating and issued a $23.75 price target (down previously from $37.50) on shares of Easterly Government Properties in a research note on Thursday, April 10th. Royal Bank of Canada cut their target price on shares of 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. Wall Street Zen lowered shares of Easterly Government Properties from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Jefferies Financial Group started coverage on Easterly Government Properties in a research note on Monday, March 17th. They set a "buy" rating and a $32.50 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.69.

Easterly Government Properties Stock Performance

The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 126.75 and a beta of 0.94. 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 has a fifty day moving average of $21.42 and a 200 day moving average of $25.70.

Easterly Government Properties (NYSE:DEA - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.73. The business had revenue of $78.68 million during the quarter, compared to the consensus estimate of $80.67 million. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. As a group, sell-side analysts forecast that Easterly Government Properties, Inc. will post 1.17 EPS for the current year.

Easterly Government Properties Cuts Dividend

The company also recently declared a dividend, which was paid on Saturday, May 17th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.45 per share. This represents a dividend yield of 8.92%. The ex-dividend date of this dividend was Monday, May 5th. Easterly Government Properties's payout ratio is presently 171.43%.

Hedge Funds Weigh In On Easterly Government Properties

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC raised its holdings in Easterly Government Properties by 814.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,110 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 2,770 shares during the period. Quarry LP increased its position in shares of Easterly Government Properties by 604.0% during the fourth quarter. Quarry LP now owns 5,878 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 5,043 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Easterly Government Properties in the 4th quarter valued at approximately $70,000. Parvin Asset Management LLC purchased a new stake in shares of Easterly Government Properties in the 4th quarter valued at approximately $87,000. Finally, Quantbot Technologies LP acquired a new position in shares of Easterly Government Properties in the 4th quarter worth approximately $97,000. Institutional investors and hedge funds own 86.51% of the company's stock.

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.