Summit Global Investments Purchases New Shares in Easterly Government Properties, Inc. $DEA

Summit Global Investments bought a new position in Easterly Government Properties, Inc. (NYSE:DEA) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 21,989 shares of the real estate investment trust’s stock, valued at approximately $504,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in Easterly Government Properties by 215.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,130 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 772 shares during the period. Abundance Wealth Counselors raised its position in Easterly Government Properties by 2.3% during the third quarter. Abundance Wealth Counselors now owns 35,030 shares of the real estate investment trust’s stock valued at $803,000 after acquiring an additional 791 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Easterly Government Properties by 223.9% during the 2nd quarter. Allworth Financial LP now owns 1,778 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,229 shares in the last quarter. Resona Asset Management Co. Ltd. raised its holdings in Easterly Government Properties by 13.0% during the third quarter. Resona Asset Management Co. Ltd. now owns 18,926 shares of the real estate investment trust’s stock valued at $431,000 after buying an additional 2,172 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Easterly Government Properties by 208.5% in the 3rd quarter. Versant Capital Management Inc now owns 3,310 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 2,237 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

Easterly Government Properties Price Performance

DEA opened at $23.40 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.47 and a quick ratio of 3.47. The company’s 50 day simple moving average is $22.10 and its 200-day simple moving average is $22.23. Easterly Government Properties, Inc. has a one year low of $19.33 and a one year high of $29.49. The stock has a market capitalization of $1.08 billion, a P/E ratio of 76.72 and a beta of 0.96.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial lowered their target price on shares of Easterly Government Properties from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Monday, November 24th. Compass Point set a $26.45 price objective on Easterly Government Properties and gave the stock a “buy” rating in a report on Wednesday, October 15th. Wall Street Zen upgraded shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. New Street Research set a $20.00 price target on Easterly Government Properties in a research note on Monday, October 13th. Finally, Weiss Ratings cut shares of Easterly Government Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.99.

Easterly Government Properties Profile

Easterly Government Properties, Inc is a real estate investment trust that specializes in the acquisition, development and management of commercial properties leased to U.S. government agencies. Structured as a triple-net lease REIT, the company focuses on single-tenant assets with long-term, credit-backed leases that transfer most property-level responsibilities—including taxes, insurance and maintenance—to its government tenants.

The firm’s portfolio encompasses a variety of facility types, including office buildings, training centers, laboratories and mission-critical installations used by federal agencies.