Easterly Government Properties Inc. (DEA) Now Covered by SunTrust Banks Inc.
Stock analysts at SunTrust Banks Inc. started coverage on shares of Easterly Government Properties Inc. (NYSE:DEA) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the real estate investment trust’s stock.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Easterly Government Properties from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Jefferies Group initiated coverage on Easterly Government Properties in a research note on Wednesday, October 5th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Citigroup Inc. lifted their price objective on Easterly Government Properties from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Easterly Government Properties presently has a consensus rating of “Hold” and a consensus target price of $19.50.
Shares of Easterly Government Properties (NYSE:DEA) traded up 1.43% on Tuesday, reaching $19.11. The company had a trading volume of 197,380 shares. The company has a market capitalization of $670.03 million, a P/E ratio of 258.24 and a beta of 0.59. Easterly Government Properties has a 52 week low of $16.41 and a 52 week high of $20.82. The company has a 50 day moving average of $19.20 and a 200-day moving average of $19.12.
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Easterly Government Properties (NYSE:DEA) last posted its earnings results on Monday, August 8th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The company earned $24.90 million during the quarter, compared to analysts’ expectations of $23.53 million. Easterly Government Properties had a return on equity of 0.31% and a net margin of 2.17%. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. Analysts predict that Easterly Government Properties will post $1.19 earnings per share for the current fiscal year.
In related news, Director James E. Mead bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was purchased at an average cost of $19.18 per share, for a total transaction of $76,720.00. Following the completion of the acquisition, the director now owns 4,033 shares in the company, valued at approximately $77,352.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Mead bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average price of $19.72 per share, with a total value of $39,440.00. The disclosure for this purchase can be found here. 18.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DEA. BlackRock Group LTD raised its position in 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 worth $110,000 after buying an additional 2,999 shares during the period. BlackRock Inc. increased its stake 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 worth $130,000 after buying an additional 5,639 shares during the period. Societe Generale acquired a new stake in shares of Easterly Government Properties during the second quarter worth about $155,000. SG Americas Securities LLC acquired a new stake in shares of Easterly Government Properties during the second quarter worth about $155,000. Finally, Security National Trust Co. acquired a new stake in shares of Easterly Government Properties during the second quarter worth about $158,000. Hedge funds and other institutional investors own 57.50% of the company’s stock.
Easterly Government Properties Company Profile
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.
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