Gilman Hill Asset Management LLC Sells 571,764 Shares of Easterly Government Properties, Inc. $DEA

Key Points

• Gilman Hill Asset Management LLC reduced its holdings in Easterly Government Properties by 58.3%, selling 571,764 shares during Q2 and holding 408,690 shares post-sale.
• Easterly Government Properties reported $0.74 earnings per share for the last quarter, meeting consensus estimates, but with revenue falling short at $80.37 million against expectations of $81.73 million.
• The company's quarterly dividend was set at $0.45 per share, resulting in a high payout ratio of 439.02% and a dividend yield of 7.7%.

Gilman Hill Asset Management LLC reduced its stake in Easterly Government Properties, Inc. (NYSE:DEA - Free Report) by 58.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 408,690 shares of the real estate investment trust's stock after selling 571,764 shares during the quarter. Easterly Government Properties accounts for 1.5% of Gilman Hill Asset Management LLC's investment portfolio, making the stock its 15th biggest holding. Gilman Hill Asset Management LLC owned about 0.91% of Easterly Government Properties worth $9,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Easterly Government Properties in the first quarter valued at approximately $109,000. Kaizen Financial Strategies acquired a new position in shares of Easterly Government Properties in the first quarter worth $111,000. NewEdge Advisors LLC raised its holdings in shares of Easterly Government Properties by 12,846.9% in the first quarter. NewEdge Advisors LLC now owns 10,487 shares of the real estate investment trust's stock worth $111,000 after acquiring an additional 10,406 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Easterly Government Properties by 182.2% in the fourth quarter. Lazard Asset Management LLC now owns 10,445 shares of the real estate investment trust's stock worth $118,000 after acquiring an additional 6,744 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Easterly Government Properties in the first quarter worth $120,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on DEA. BMO Capital Markets upgraded Easterly Government Properties from a "strong sell" rating to a "hold" rating and set a $25.00 target price for the company in a research note on Wednesday, July 16th. Royal Bank Of Canada dropped their price target on 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. Finally, Wall Street Zen lowered Easterly Government Properties from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Easterly Government Properties has an average rating of "Hold" and an average target price of $27.15.

Easterly Government Properties Trading Down 2.6%

Easterly Government Properties stock traded down $0.61 during mid-day trading on Friday, hitting $22.96. 937,660 shares of the company's stock were exchanged, compared to its average volume of 521,874. The company's 50 day simple moving average is $22.70 and its 200-day simple moving average is $22.79. The firm has a market capitalization of $1.04 billion, a P/E ratio of 56.00 and a beta of 0.96. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 1.24. Easterly Government Properties, Inc. has a fifty-two week low of $19.33 and a fifty-two week high of $36.31.

Easterly Government Properties (NYSE:DEA - Get Free Report) last released its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. The firm 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 1.26% and a net margin of 5.54%.The company's revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. Easterly Government Properties has set its FY 2025 guidance at 2.980-3.030 EPS. On average, equities analysts anticipate that Easterly Government Properties, Inc. will post 1.17 earnings per share for the current year.

Easterly Government Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Wednesday, August 13th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Wednesday, August 13th. Easterly Government Properties's payout ratio is presently 439.02%.

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.