Easterly Government Properties (NYSE:DEA) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Easterly Government Properties (NYSE:DEA) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

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 have also weighed in on DEA. Raymond James raised their price target on shares of Easterly Government Properties from $24.00 to $24.50 and gave the company an outperform rating in a report on Wednesday, August 4th. TheStreet raised shares of Easterly Government Properties from a c+ rating to a b- rating in a report on Thursday, July 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $25.08.

DEA stock opened at $20.97 on Wednesday. The business’s 50-day moving average is $21.71 and its 200 day moving average is $21.37. Easterly Government Properties has a 12-month low of $19.64 and a 12-month high of $23.65. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 80.65 and a beta of 0.43.

Easterly Government Properties (NYSE:DEA) last issued its earnings results on Tuesday, August 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.23). The business had revenue of $68.60 million during the quarter, compared to analysts’ expectations of $67.82 million. Easterly Government Properties had a net margin of 8.38% and a return on equity of 1.66%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. As a group, equities analysts forecast that Easterly Government Properties will post 1.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 24th. Stockholders of record on Thursday, August 12th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, August 11th. This is a positive change from Easterly Government Properties’s previous quarterly dividend of $0.26. This represents a $1.06 annualized dividend and a dividend yield of 5.05%. Easterly Government Properties’s payout ratio is 84.13%.

In related news, Chairman Darrell W. Crate sold 2,000 shares of Easterly Government Properties stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $20.80, for a total value of $41,600.00. Following the sale, the chairman now directly owns 7,428 shares in the company, valued at approximately $154,502.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William C. Trimble sold 9,000 shares of Easterly Government Properties stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $21.70, for a total transaction of $195,300.00. Following the completion of the sale, the chief executive officer now owns 100,279 shares in the company, valued at $2,176,054.30. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $871,150 over the last ninety days. Company insiders own 9.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in DEA. Amundi Pioneer Asset Management Inc. raised its position in shares of Easterly Government Properties by 6.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 30,821 shares of the real estate investment trust’s stock worth $555,000 after buying an additional 1,907 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Easterly Government Properties by 2.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 214,703 shares of the real estate investment trust’s stock worth $4,451,000 after buying an additional 4,580 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Easterly Government Properties by 232.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 29,900 shares of the real estate investment trust’s stock worth $620,000 after buying an additional 20,900 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Easterly Government Properties by 8.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,492 shares of the real estate investment trust’s stock worth $611,000 after buying an additional 2,292 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Easterly Government Properties by 2.3% during the 1st quarter. Arizona State Retirement System now owns 23,647 shares of the real estate investment trust’s stock worth $490,000 after buying an additional 538 shares in the last quarter. Institutional investors own 86.24% of the company’s stock.

About Easterly Government Properties

Easterly Government Properties, Inc operates as a real estate investment trust, which engages in the acquisition, development, and management of commercial properties that are leased to U.S. Government agencies. The company was founded on October 10, 2014 and is headquartered in Washington, DC.

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