Easterly Government Properties (NYSE:DEA) Posts Quarterly Earnings Results, Beats Estimates By $0.71 EPS

Easterly Government Properties (NYSE:DEA) issued its earnings results on Monday. The real estate investment trust reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.71, Zacks reports. The firm had revenue of $93.61 million for the quarter, compared to the consensus estimate of $91.72 million. Easterly Government Properties had a net margin of 2.86% and a return on equity of 0.75%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share.

Easterly Government Properties Stock Performance

DEA opened at $22.64 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market cap of $1.07 billion, a P/E ratio of 107.81 and a beta of 0.99. The stock’s 50 day simple moving average is $23.50 and its 200 day simple moving average is $23.87. Easterly Government Properties has a 1-year low of $20.56 and a 1-year high of $25.96.

Easterly Government Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Thursday, November 5th. Easterly Government Properties’s payout ratio is presently 857.14%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada reissued an “underperform” rating and issued a $24.00 price objective (up from $22.00) on shares of Easterly Government Properties in a research note on Monday, August 24th. BMO Capital Markets restated a “market perform” rating and issued a $27.00 price objective (up from $25.00) on shares of Easterly Government Properties in a research report on Monday, August 3rd. Truist Financial upped their target price on Easterly Government Properties from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Easterly Government Properties in a report on Monday, August 24th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.80.

Easterly Government Properties Company Profile

Easterly Government Properties, Inc is a real estate investment trust (REIT) that acquires, develops, owns and manages properties leased primarily to government agencies. Its portfolio is focused on mission-critical facilities, including offices, medical and healthcare-related buildings, laboratories, courthouses and other specialized properties used by federal, state and local government tenants.

Founded in 2011 and headquartered in Washington, DC, Easterly became a publicly traded company in 2015.