Easterly Government Properties Inc. (DEA) Earns Buy Rating from Analysts at Jefferies Group
Equities researchers at Jefferies Group started coverage on shares of Easterly Government Properties Inc. (NYSE:DEA) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a $22.00 price target on the real estate investment trust’s stock. Jefferies Group’s price target indicates a potential upside of 19.89% from the company’s current price.
DEA has been the subject of several other research reports. Zacks Investment Research lowered Easterly Government Properties from a “hold” rating to a “sell” rating in a report on Thursday, September 8th. Citigroup Inc. lifted their price objective on Easterly Government Properties from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.50.
Shares of Easterly Government Properties (NYSE:DEA) traded up 0.27% during trading on Wednesday, hitting $18.35. The stock had a trading volume of 184,651 shares. The company has a market cap of $643.39 million, a PE ratio of 247.97 and a beta of 0.59. Easterly Government Properties has a 12 month low of $16.41 and a 12 month high of $20.82. The stock has a 50 day moving average of $19.30 and a 200 day moving average of $19.10.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/easterly-government-properties-inc-dea-earns-buy-rating-from-analysts-at-jefferies-group.html
Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings data on Monday, August 8th. The real estate investment trust reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Easterly Government Properties had a return on equity of 0.31% and a net margin of 2.17%. The company earned $24.90 million during the quarter, compared to analyst estimates of $23.53 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. Easterly Government Properties’s revenue was up 29.4% compared to the same quarter last year. Equities analysts forecast that Easterly Government Properties will post $1.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Friday, August 26th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 5.01%. The ex-dividend date was Wednesday, August 24th. Easterly Government Properties’s dividend payout ratio is presently 1,314.47%.
In related news, Director James E. Mead purchased 2,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was acquired at an average price of $19.72 per share, with a total value of $39,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia A. Fisher purchased 18,448 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were bought at an average cost of $19.68 per share, with a total value of $363,056.64. Following the acquisition, the director now directly owns 53,999 shares of the company’s stock, valued at approximately $1,062,700.32. The disclosure for this purchase can be found here. Company insiders own 18.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Group LTD increased its position in shares of Easterly Government Properties by 115.3% in the second quarter. BlackRock Group LTD now owns 5,601 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 2,999 shares during the last quarter. BlackRock Inc. increased its position in shares of Easterly Government Properties by 571.9% in the second quarter. BlackRock Inc. now owns 6,625 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 5,639 shares during the last quarter. Societe Generale acquired a new position in shares of Easterly Government Properties during the second quarter valued at approximately $155,000. SG Americas Securities LLC acquired a new position in shares of Easterly Government Properties during the second quarter valued at approximately $155,000. Finally, Security National Trust Co. acquired a new position in shares of Easterly Government Properties during the second quarter valued at approximately $158,000. 57.84% of the stock is owned by institutional investors and hedge funds.
About Easterly Government Properties
Easterly Government Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on the acquisition, development and management of Class A commercial properties that are leased to the United States Government agencies, such as the Drug Enforcement Administration, Federal Bureau of Investigation, Internal Revenue Service, Patent and Trademark Office, Customs and Border Protection, U.S.
Receive News & Ratings for Easterly Government Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Easterly Government Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.