Sorin Capital Management LLC Invests $1.10 Million in Easterly Government Properties, Inc. (DEA)
Sorin Capital Management LLC purchased a new stake in shares of Easterly Government Properties, Inc. (NYSE:DEA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,655 shares of the real estate investment trust’s stock, valued at approximately $1,103,000. Easterly Government Properties accounts for approximately 1.0% of Sorin Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Sorin Capital Management LLC owned approximately 0.14% of Easterly Government Properties at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of DEA. Teachers Advisors LLC increased its holdings in shares of Easterly Government Properties by 1.6% during the fourth quarter. Teachers Advisors LLC now owns 69,846 shares of the real estate investment trust’s stock valued at $1,398,000 after purchasing an additional 1,109 shares during the period. Bank of Montreal Can acquired a new position in shares of Easterly Government Properties during the first quarter valued at $156,000. Wells Fargo & Company MN increased its holdings in shares of Easterly Government Properties by 0.3% during the first quarter. Wells Fargo & Company MN now owns 232,680 shares of the real estate investment trust’s stock valued at $4,604,000 after purchasing an additional 643 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Easterly Government Properties by 47.3% during the first quarter. Great West Life Assurance Co. Can now owns 16,307 shares of the real estate investment trust’s stock valued at $323,000 after purchasing an additional 5,237 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of Easterly Government Properties during the first quarter valued at $277,000. 96.24% of the stock is currently owned by institutional investors.
Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.29). Easterly Government Properties had a net margin of 3.40% and a return on equity of 0.58%. The business had revenue of $30.60 million during the quarter, compared to the consensus estimate of $30.61 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be given 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 4.94%. Easterly Government Properties’s payout ratio is 1,000.10%.
A number of brokerages have recently commented on DEA. BidaskClub lowered Easterly Government Properties from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Zacks Investment Research lowered Easterly Government Properties from a “hold” rating to a “sell” rating in a report on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Easterly Government Properties currently has a consensus rating of “Hold” and an average target price of $22.13.
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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