Zurcher Kantonalbank Zurich Cantonalbank Has $595,000 Stock Holdings in Easterly Government Properties, Inc. (NYSE:DEA)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has significantly reduced its stake in Easterly Government Properties, Inc. by 49.3%, now holding approximately 0.13% of the company worth $595,000.
• The firm recently declared a quarterly dividend of $0.45 per share, which results in an annualized dividend yield of 8.1%, despite a high payout ratio of 171.43%.
• Analysts have lowered price targets for Easterly Government Properties, with a consensus target price of $27.15, as ratings changed from "strong sell" to "hold" and "sell" among various research firms.

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Easterly Government Properties, Inc. (NYSE:DEA - Free Report) by 49.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,155 shares of the real estate investment trust's stock after selling 54,591 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.13% of Easterly Government Properties worth $595,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its stake in shares of 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 purchasing an additional 2,770 shares during the period. Quarry LP lifted its stake 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 valued at $67,000 after purchasing an additional 5,043 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Easterly Government Properties in the 4th quarter valued at $70,000. Parvin Asset Management LLC acquired a new position in shares of Easterly Government Properties in the 4th quarter valued at $87,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Easterly Government Properties in the 1st quarter valued at $109,000. Institutional investors and hedge funds own 86.51% of the company's stock.

Wall Street Analyst Weigh In

DEA has been the topic of a number of analyst reports. Royal Bank Of Canada cut 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. Wall Street Zen cut shares of Easterly Government Properties from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Finally, BMO Capital Markets upgraded shares of Easterly Government Properties from a "strong sell" rating to a "hold" rating and set a $25.00 price objective for the company in a research report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Easterly Government Properties presently has a consensus rating of "Hold" and an average price target of $27.15.

Easterly Government Properties Trading Down 1.2%

Shares of DEA traded down $0.27 during trading hours on Friday, reaching $22.11. The stock had a trading volume of 374,781 shares, compared to its average volume of 433,757. The firm has a 50-day moving average of $22.60 and a 200 day moving average of $23.83. The company has a market cap of $1.00 billion, a P/E ratio of 53.92 and a beta of 0.94. The company has a quick ratio of 4.90, a current ratio of 3.75 and a debt-to-equity ratio of 1.24. Easterly Government Properties, Inc. has a 52 week low of $19.33 and a 52 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. On average, sell-side analysts expect that Easterly Government Properties, Inc. will post 1.17 earnings per share for the current fiscal year.

Easterly Government Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Wednesday, August 13th. Easterly Government Properties's dividend payout ratio is 175.61%.

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.