Zacks Investment Research Upgrades Easterly Government Properties, Inc. (NYSE:DEA) to “Hold”
Zacks Investment Research upgraded shares of Easterly Government Properties, Inc. (NYSE:DEA) from a sell rating to a hold rating in a report published on Thursday, July 13th.
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. “
A number of other equities research analysts also recently issued reports on DEA. Jefferies Group LLC restated a buy rating and set a $24.00 price objective on shares of Easterly Government Properties in a research report on Monday, May 22nd. BidaskClub downgraded Easterly Government Properties from a buy rating to a hold rating in a research report on Saturday, July 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $22.13.
Easterly Government Properties (NYSE DEA) opened at 20.09 on Thursday. The company has a market capitalization of $742.77 million, a PE ratio of 196.96 and a beta of 0.56. The company has a 50 day moving average of $20.60 and a 200 day moving average of $20.21. Easterly Government Properties has a 1-year low of $17.94 and a 1-year high of $21.81.
Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.28. Easterly Government Properties had a net margin of 3.46% and a return on equity of 0.56%. The company had revenue of $29.89 million for the quarter, compared to analysts’ expectations of $28.14 million. During the same quarter last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, analysts predict that Easterly Government Properties will post $0.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.00 annualized dividend and a yield of 4.98%. Easterly Government Properties’s dividend payout ratio (DPR) is currently 1,000.10%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in shares of Easterly Government Properties during the first quarter valued at about $156,000. Legal & General Group Plc boosted its stake in shares of Easterly Government Properties by 7.8% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 619 shares during the period. Orinda Asset Management LLC bought a new stake in shares of Easterly Government Properties during the first quarter valued at about $198,000. Prudential Financial Inc. acquired a new stake in Easterly Government Properties during the first quarter worth $202,000. Finally, Teacher Retirement System of Texas acquired a new stake in Easterly Government Properties during the first quarter worth $212,000. 91.90% of the stock is currently owned by 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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