Easterly Government Properties (NYSE:DEA) Price Target Cut to $24.00 by Analysts at Citigroup

Easterly Government Properties (NYSE:DEA) had its price target lowered by stock analysts at Citigroup from $25.00 to $24.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup‘s price objective would suggest a potential upside of 6.02% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $24.00 price target (up from $22.00) on shares of Easterly Government Properties in a report on Monday, August 24th. Weiss Ratings lowered shares of Easterly Government Properties from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday. Raymond James Financial reissued an “outperform” rating and issued a $27.00 target price on shares of Easterly Government Properties in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $27.00 target price (up from $25.00) on shares of Easterly Government Properties in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Easterly Government Properties presently has a consensus rating of “Reduce” and a consensus target price of $25.60.

Easterly Government Properties Stock Performance

Shares of NYSE DEA traded up $0.13 during midday trading on Thursday, hitting $22.64. 340,457 shares of the stock traded hands, compared to its average volume of 420,883. The firm has a market capitalization of $1.07 billion, a P/E ratio of 73.02 and a beta of 0.99. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a 50-day moving average of $23.40 and a two-hundred day moving average of $23.55. Easterly Government Properties has a one year low of $20.56 and a one year high of $25.96.

Easterly Government Properties (NYSE:DEA) last released its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Easterly Government Properties had a net margin of 2.86% and a return on equity of 0.75%. The firm had revenue of $92.42 million during the quarter, compared to analyst estimates of $90.94 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Easterly Government Properties has set its FY 2026 guidance at 3.070-3.130 EPS. On average, equities analysts forecast that Easterly Government Properties will post 3.10 EPS for the current fiscal year.

Institutional Investors Weigh In On Easterly Government Properties

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in shares of Easterly Government Properties by 198.6% in the 1st quarter. Renaissance Technologies LLC now owns 73,466 shares of the real estate investment trust’s stock worth $1,574,000 after buying an additional 48,866 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Easterly Government Properties during the 2nd quarter valued at about $2,339,000. Quantinno Capital Management LP lifted its holdings in shares of Easterly Government Properties by 392.6% in the 1st quarter. Quantinno Capital Management LP now owns 129,542 shares of the real estate investment trust’s stock valued at $2,776,000 after acquiring an additional 103,247 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Easterly Government Properties by 39.7% in the 1st quarter. Bank of America Corp DE now owns 150,221 shares of the real estate investment trust’s stock valued at $3,219,000 after acquiring an additional 42,704 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Easterly Government Properties in the 2nd quarter valued at about $7,237,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.

About Easterly Government Properties

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.