Easterly Government Properties, Inc. (NYSE:DEA – Get Rating) announced a quarterly dividend on Thursday, July 28th, Zacks reports. Shareholders of record on Thursday, August 11th will be paid a dividend of 0.265 per share by the real estate investment trust on Tuesday, August 23rd. This represents a $1.06 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Wednesday, August 10th.
Easterly Government Properties has a payout ratio of 246.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Easterly Government Properties to earn $1.38 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 76.8%.
Easterly Government Properties Stock Performance
Shares of DEA opened at $19.99 on Friday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 57.12 and a beta of 0.50. Easterly Government Properties has a 12 month low of $18.01 and a 12 month high of $23.65. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 0.85. The business’s fifty day simple moving average is $19.31 and its two-hundred day simple moving average is $20.12.
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Easterly Government Properties (NYSE:DEA – Get Rating) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). The company had revenue of $72.30 million during the quarter, compared to the consensus estimate of $74.73 million. Easterly Government Properties had a return on equity of 2.18% and a net margin of 10.78%. Easterly Government Properties’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 earnings per share. Research analysts anticipate that Easterly Government Properties will post 1.34 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on DEA shares. Truist Financial dropped their target price on Easterly Government Properties from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Jefferies Financial Group reduced their price objective on shares of Easterly Government Properties from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. Royal Bank of Canada reduced their price target on Easterly Government Properties from $24.00 to $21.00 in a research report on Monday, July 11th. Finally, StockNews.com initiated coverage on shares of Easterly Government Properties in a report on Thursday, March 31st. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Easterly Government Properties presently has an average rating of “Hold” and an average price target of $22.10.
Hedge Funds Weigh In On Easterly Government Properties
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. raised its holdings in shares of Easterly Government Properties by 1.8% in the 1st quarter. First Republic Investment Management Inc. now owns 39,122 shares of the real estate investment trust’s stock valued at $827,000 after purchasing an additional 707 shares in the last quarter. Brinker Capital Investments LLC increased its stake in Easterly Government Properties by 1.8% in the first quarter. Brinker Capital Investments LLC now owns 71,846 shares of the real estate investment trust’s stock valued at $1,519,000 after purchasing an additional 1,296 shares during the period. Rhumbline Advisers boosted its holdings in shares of Easterly Government Properties by 0.6% in the first quarter. Rhumbline Advisers now owns 266,632 shares of the real estate investment trust’s stock valued at $5,637,000 after acquiring an additional 1,672 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Easterly Government Properties by 11.7% in the first quarter. US Bancorp DE now owns 16,447 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 1,721 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Easterly Government Properties in the first quarter valued at about $39,000. Hedge funds and other institutional investors own 84.55% of the company’s stock.
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.
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