Allianz Asset Management GmbH Buys New Position in Easterly Government Properties, Inc. (NYSE:DEA)

Key Points

• Allianz Asset Management GmbH has invested $610,000 to acquire 57,544 shares of Easterly Government Properties, Inc. (NYSE:DEA), representing approximately 0.13% of the company by the end of Q1.
• Easterly Government Properties reported $0.73 earnings per share for the last quarter, meeting analysts' expectations, with an 8.1% year-over-year revenue increase to $78.68 million.
$0.45 per share, indicating a high dividend yield of 8.2%, despite having a payout ratio of 171.43%.

Allianz Asset Management GmbH acquired a new stake in Easterly Government Properties, Inc. (NYSE:DEA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 57,544 shares of the real estate investment trust's stock, valued at approximately $610,000. Allianz Asset Management GmbH owned 0.13% of Easterly Government Properties as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Arrow Investment Advisors LLC boosted its stake in Easterly Government Properties by 14.2% during the first quarter. Arrow Investment Advisors LLC now owns 13,548 shares of the real estate investment trust's stock worth $144,000 after buying an additional 1,686 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Easterly Government Properties by 14.6% during the 4th quarter. Bank of Montreal Can now owns 14,214 shares of the real estate investment trust's stock worth $161,000 after acquiring an additional 1,806 shares during the period. Accel Wealth Management boosted its position in shares of Easterly Government Properties by 20.0% during the 1st quarter. Accel Wealth Management now owns 12,000 shares of the real estate investment trust's stock valued at $127,000 after acquiring an additional 2,000 shares during the last quarter. Monetary Management Group Inc. grew its holdings in shares of Easterly Government Properties by 9.7% in the fourth quarter. Monetary Management Group Inc. now owns 28,250 shares of the real estate investment trust's stock valued at $321,000 after purchasing an additional 2,500 shares during the period. Finally, Cetera Investment Advisers increased its position in Easterly Government Properties by 22.0% during the fourth quarter. Cetera Investment Advisers now owns 14,601 shares of the real estate investment trust's stock worth $166,000 after purchasing an additional 2,637 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Compass Point reissued 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. Wall Street Zen lowered Easterly Government Properties from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. BMO Capital Markets upgraded Easterly Government Properties from a "strong sell" rating to a "hold" rating and set a $25.00 target price on the stock in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada decreased their price target on Easterly Government Properties from $27.50 to $22.00 and set an "underperform" rating on the stock in a research note on Monday, June 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Easterly Government Properties presently has an average rating of "Hold" and a consensus target price of $27.15.

Easterly Government Properties Trading Down 0.6%

Shares of DEA traded down $0.14 during midday trading on Tuesday, hitting $22.16. 170,101 shares of the stock were exchanged, compared to its average volume of 591,056. Easterly Government Properties, Inc. has a 52-week low of $19.33 and a 52-week high of $36.31. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.90 and a current ratio of 4.90. The stock has a fifty day simple moving average of $22.57 and a 200 day simple moving average of $23.95. The firm has a market cap of $994.76 million, a P/E ratio of 52.76 and a beta of 0.94.

Easterly Government Properties (NYSE:DEA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The company had revenue of $80.37 million during the quarter, compared to analysts' expectations of $81.73 million. Easterly Government Properties had a return on equity of 1.30% and a net margin of 5.86%. Easterly Government Properties's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. On average, research analysts anticipate that Easterly Government Properties, Inc. will post 1.17 EPS for the current fiscal year.

Easterly Government Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Wednesday, August 13th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $1.80 annualized dividend and a dividend yield of 8.1%. Easterly Government Properties's payout ratio is 171.43%.

Easterly Government Properties Profile

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.