Easterly Government Properties Inc (DEA) Upgraded to “Hold” at Zacks Investment Research
Easterly Government Properties Inc (NYSE:DEA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
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. “
DEA has been the subject of a number of other research reports. Raymond James Financial, Inc. reaffirmed a “market perform” rating and set a $20.50 target price on shares of Easterly Government Properties in a report on Monday, January 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Easterly Government Properties in a report on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Easterly Government Properties presently has an average rating of “Hold” and an average price target of $20.70.
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Shares of Easterly Government Properties (NYSE:DEA) traded down 0.41% on Monday, reaching $19.57. 163,389 shares of the company were exchanged. Easterly Government Properties has a 12-month low of $17.58 and a 12-month high of $21.07. The stock’s 50-day moving average is $20.01 and its 200 day moving average is $19.51. The firm has a market capitalization of $721.31 million, a PE ratio of 195.70 and a beta of 0.58.
Easterly Government Properties (NYSE:DEA) last posted its earnings results on Thursday, March 2nd. The real estate investment trust reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. The business earned $28.75 million during the quarter, compared to analyst estimates of $26.85 million. Easterly Government Properties had a return on equity of 0.37% and a net margin of 2.42%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, analysts forecast that Easterly Government Properties will post $0.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th will be issued a dividend of $0.24 per share. This is a positive change from Easterly Government Properties’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.91%. Easterly Government Properties’s payout ratio is presently 1,371.43%.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Easterly Government Properties by 13.9% in the third quarter. Bank of New York Mellon Corp now owns 783,095 shares of the real estate investment trust’s stock valued at $14,940,000 after buying an additional 95,430 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Easterly Government Properties during the third quarter valued at approximately $212,000. Punch & Associates Investment Management Inc. raised its position in shares of Easterly Government Properties by 2.9% in the third quarter. Punch & Associates Investment Management Inc. now owns 123,156 shares of the real estate investment trust’s stock valued at $2,350,000 after buying an additional 3,517 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. raised its position in shares of Easterly Government Properties by 37.7% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 5,751 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 1,574 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its position in shares of Easterly Government Properties by 4.9% in the third quarter. State of Wisconsin Investment Board now owns 632,540 shares of the real estate investment trust’s stock valued at $12,069,000 after buying an additional 29,320 shares during the last quarter. 77.87% of the stock is owned by institutional investors.
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. The Company owns approximately 40 properties in the United States, encompassing approximately 3.2 million square feet in the aggregate.
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