Easterly Government Properties (NYSE:DEA) Announces Quarterly Earnings Results

Easterly Government Properties (NYSE:DEA) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.24), Zacks reports. The firm had revenue of $74.78 million for the quarter, compared to analysts’ expectations of $74.98 million. Easterly Government Properties had a return on equity of 1.36% and a net margin of 6.49%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Easterly Government Properties Price Performance

Easterly Government Properties stock traded down $0.04 during mid-day trading on Thursday, reaching $13.53. The company had a trading volume of 1,458,128 shares, compared to its average volume of 879,290. The stock’s 50-day simple moving average is $13.57 and its 200-day simple moving average is $12.93. The company has a market capitalization of $1.39 billion, a P/E ratio of 71.58 and a beta of 0.72. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.57 and a quick ratio of 3.57. Easterly Government Properties has a 1 year low of $10.62 and a 1 year high of $14.52.

Easterly Government Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a dividend of $0.265 per share. The ex-dividend date is Friday, November 15th. This represents a $1.06 annualized dividend and a yield of 7.84%. Easterly Government Properties’s payout ratio is currently 557.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Easterly Government Properties from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. StockNews.com raised Easterly Government Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised Easterly Government Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $15.00 in a report on Monday, October 14th.

About Easterly Government Properties

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.