Easterly Government Properties (DEA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Easterly Government Properties (NYSE:DEA) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Easterly Government Properties, Inc. is focused primarily on the acquisition, development and management of commercial properties leased to U.S. Government agencies through the U.S. General Services Administration. Easterly Government Properties, Inc. is based in Washington, District of Columbia. “

A number of other equities analysts have also recently issued reports on DEA. Jefferies Group reiterated a buy rating and set a $24.00 price objective on shares of Easterly Government Properties in a research report on Tuesday, October 10th. SunTrust Banks set a $24.00 price objective on shares of Easterly Government Properties and gave the stock a buy rating in a research report on Sunday, December 17th.

Easterly Government Properties (NYSE:DEA) traded down $0.11 during mid-day trading on Tuesday, reaching $20.52. 372,122 shares of the company were exchanged, compared to its average volume of 915,305. The firm has a market cap of $900.29 and a PE ratio of 205.20. Easterly Government Properties has a twelve month low of $19.08 and a twelve month high of $22.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.26 and a current ratio of 1.26.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Wednesday, December 6th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.07%. This is a boost from Easterly Government Properties’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, December 5th. Easterly Government Properties’s dividend payout ratio is currently 1,040.00%.

A number of hedge funds have recently added to or reduced their stakes in DEA. Advisor Group Inc. increased its position in Easterly Government Properties by 30.8% during the 2nd quarter. Advisor Group Inc. now owns 5,625 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,326 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Easterly Government Properties by 72.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,582 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 3,609 shares during the last quarter. Legal & General Group Plc grew its holdings in Easterly Government Properties by 7.8% during the 2nd quarter. Legal & General Group Plc now owns 8,528 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 619 shares during the last quarter. First Trust Advisors LP bought a new stake in Easterly Government Properties during the 3rd quarter worth approximately $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Easterly Government Properties during the 3rd quarter worth approximately $229,000. Institutional investors and hedge funds own 87.22% of the company’s stock.

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About Easterly Government Properties

Easterly Government Properties, Inc is an internally managed real estate investment trust (REIT). The Company focuses on the acquisition, development and management of Class A commercial properties that are leased to the United States Government agencies. The Company leases its properties to such agencies through the United States General Services Administration (GSA).

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