Easterly Government Properties Inc to Post Q2 2017 Earnings of $0.30 Per Share, SunTrust Banks Forecasts (DEA)
Easterly Government Properties Inc (NYSE:DEA) – Investment analysts at SunTrust Banks reduced their Q2 2017 earnings estimates for Easterly Government Properties in a note issued to investors on Thursday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $0.30 per share for the quarter, down from their prior forecast of $0.31. SunTrust Banks also issued estimates for Easterly Government Properties’ Q3 2017 earnings at $0.32 EPS.
Easterly Government Properties (NYSE:DEA) last announced its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.28. Easterly Government Properties had a net margin of 2.42% and a return on equity of 0.37%. The business had revenue of $29.89 million for the quarter, compared to analyst estimates of $28.14 million. During the same period in the prior year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis.
A number of other analysts also recently issued reports on DEA. Zacks Investment Research downgraded Easterly Government Properties from a “hold” rating to a “sell” rating in a report on Tuesday, February 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Easterly Government Properties in a report on Thursday, March 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Easterly Government Properties currently has an average rating of “Buy” and an average price target of $21.30.
Easterly Government Properties (NYSE:DEA) opened at 20.09 on Friday. The firm has a market capitalization of $742.77 million, a price-to-earnings ratio of 196.96 and a beta of 0.58. Easterly Government Properties has a one year low of $17.68 and a one year high of $21.38. The stock has a 50 day moving average price of $20.22 and a 200-day moving average price of $19.84.
Several hedge funds have recently bought and sold shares of DEA. Russell Investments Group Ltd. purchased a new stake in Easterly Government Properties during the fourth quarter worth approximately $758,000. Norges Bank purchased a new stake in Easterly Government Properties during the fourth quarter worth approximately $310,000. State of Wisconsin Investment Board boosted its stake in 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 worth $12,069,000 after buying an additional 29,320 shares during the period. Brown Advisory Inc. boosted its stake in Easterly Government Properties by 19.2% in the fourth quarter. Brown Advisory Inc. now owns 606,578 shares of the real estate investment trust’s stock worth $12,144,000 after buying an additional 97,650 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Easterly Government Properties by 0.5% in the fourth quarter. Bessemer Group Inc. now owns 62,700 shares of the real estate investment trust’s stock worth $1,255,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 77.87% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Wednesday, June 14th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.98%. This is a boost from Easterly Government Properties’s previous quarterly dividend of $0.24. Easterly Government Properties’s payout ratio is 1,371.43%.
About Easterly Government Properties
Easterly Government Properties, Inc is an internally managed real estate investment trust (REIT). The Company focuses on the acquisition, development and management of Class A commercial properties that are leased to the United States Government agencies. The Company leases its properties to such agencies through the United States General Services Administration (GSA).
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