Easterly Government Properties Inc (NYSE:DEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $23.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s price target would suggest a potential upside of 11.22% from the company’s current price.
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. “
Several other equities analysts have also commented on DEA. Jefferies Group LLC raised their price objective on Easterly Government Properties from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James Financial, Inc. reissued a “market perform” rating and set a $20.50 price objective on shares of Easterly Government Properties in a research report on Monday, January 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Easterly Government Properties presently has a consensus rating of “Buy” and a consensus price target of $21.50.
Shares of Easterly Government Properties (NYSE:DEA) traded down 0.91% on Thursday, hitting $20.68. 294,683 shares of the stock were exchanged. The company has a market cap of $762.22 million, a price-to-earnings ratio of 206.80 and a beta of 0.58. The company has a 50 day moving average of $20.05 and a 200 day moving average of $19.62. Easterly Government Properties has a 52-week low of $17.58 and a 52-week high of $21.38.
Easterly Government Properties (NYSE:DEA) last announced its quarterly earnings data on Thursday, March 2nd. The real estate investment trust reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The business earned $28.75 million during the quarter, compared to analyst estimates of $26.85 million. Easterly Government Properties had a return on equity of 0.37% and a net margin of 2.42%. The company’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Equities research analysts forecast that Easterly Government Properties will post $0.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Friday, March 3rd. This is a positive change from Easterly Government Properties’s previous quarterly dividend of $0.21. Easterly Government Properties’s payout ratio is currently 1,371.43%.
Institutional investors have recently bought and sold shares of the company. Taylor Wealth Management Partners bought a new position in Easterly Government Properties during the third quarter valued at about $353,000. Strs Ohio raised its position in Easterly Government Properties by 13.0% in the third quarter. Strs Ohio now owns 62,536 shares of the real estate investment trust’s stock valued at $1,193,000 after buying an additional 7,181 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Easterly Government Properties during the third quarter valued at about $211,000. Wells Fargo & Company MN raised its position in Easterly Government Properties by 100.9% in the third quarter. Wells Fargo & Company MN now owns 82,196 shares of the real estate investment trust’s stock valued at $1,568,000 after buying an additional 41,288 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its position in Easterly Government Properties by 4.9% in the third quarter. State of Wisconsin Investment Board now owns 632,540 shares of the real estate investment trust’s stock valued at $12,069,000 after buying an additional 29,320 shares in the last quarter. 77.87% of the stock is owned by hedge funds and other institutional investors.
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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