Easterly Government Properties (NYSE:DEA) Shares Cross Above 50 Day Moving Average - Here's Why

Easterly Government Properties, Inc. (NYSE:DEA - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $21.95 and traded as high as $22.06. Easterly Government Properties shares last traded at $21.74, with a volume of 514,010 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Compass Point restated a "neutral" rating and issued a $23.75 price objective (down from $37.50) on shares of Easterly Government Properties in a report on Thursday, April 10th. Royal Bank of Canada reduced their target price on Easterly Government Properties from $27.50 to $22.00 and set an "underperform" rating on the stock in a report on Monday. Jefferies Financial Group began coverage on shares of Easterly Government Properties in a report on Monday, March 17th. They set a "buy" rating and a $32.50 price target for the company. Finally, Wall Street Zen lowered shares of Easterly Government Properties from a "hold" rating to a "sell" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $27.69.

Easterly Government Properties Stock Down 0.9%

The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average of $21.95 and a 200 day moving average of $26.05. The firm has a market cap of $966.80 million, a price-to-earnings ratio of 119.61 and a beta of 0.90.

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

Easterly Government Properties Cuts Dividend

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

Institutional Trading of Easterly Government Properties

Several large investors have recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in Easterly Government Properties by 814.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,110 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 2,770 shares in the last quarter. Quarry LP lifted its holdings in shares of Easterly Government Properties by 604.0% in the 4th quarter. Quarry LP now owns 5,878 shares of the real estate investment trust's stock worth $67,000 after purchasing an additional 5,043 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Easterly Government Properties in the 4th quarter valued at $70,000. Parvin Asset Management LLC acquired a new stake in Easterly Government Properties in the 4th quarter valued at $87,000. Finally, Quantbot Technologies LP bought a new stake in Easterly Government Properties during the 4th quarter valued at $97,000. 86.51% of the stock is currently owned by institutional investors and hedge funds.

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.