Royal Bank of Canada Cuts Easterly Government Properties (NYSE:DEA) Price Target to $22.00

Easterly Government Properties (NYSE:DEA) had its target price reduced by Royal Bank of Canada from $27.50 to $22.00 in a research note published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an underperform rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of Easterly Government Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $32.50 price target on the stock. Compass Point reiterated a “neutral” rating and issued a $23.75 target price (down from $37.50) on shares of Easterly Government Properties in a report on Thursday, April 10th. Finally, Wall Street Zen downgraded Easterly Government Properties from a “hold” rating to a “sell” rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.69.

Easterly Government Properties Stock Performance

Shares of Easterly Government Properties stock opened at $21.79 on Monday. The firm has a fifty day moving average of $21.66 and a two-hundred day moving average of $25.94. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.01 and a current ratio of 4.01. The stock has a market capitalization of $978.48 million, a price-to-earnings ratio of 121.06 and a beta of 0.90. Easterly Government Properties has a 52 week low of $19.33 and a 52 week high of $36.31.

Easterly Government Properties (NYSE:DEA) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The business had revenue of $78.68 million during the quarter, compared to analysts’ expectations of $80.67 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts predict that Easterly Government Properties will post 1.17 EPS for the current year.

Easterly Government Properties Cuts Dividend

The business also recently disclosed a dividend, which was paid on Saturday, May 17th. Investors of record on Tuesday, May 6th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a dividend yield of 8.92%. Easterly Government Properties’s payout ratio is 171.43%.

Hedge Funds Weigh In On Easterly Government Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings in shares of Easterly Government Properties by 814.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,110 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 2,770 shares in the last quarter. Quarry LP grew its holdings in shares of Easterly Government Properties by 604.0% during the fourth quarter. Quarry LP now owns 5,878 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 5,043 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Easterly Government Properties in the 4th quarter valued at approximately $70,000. Parvin Asset Management LLC bought a new stake in Easterly Government Properties in the 4th quarter valued at approximately $87,000. Finally, Quantbot Technologies LP bought a new stake in Easterly Government Properties in the 4th quarter valued at approximately $97,000. 86.51% of the stock is owned by institutional investors and hedge funds.

Easterly Government Properties Company Profile

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.