Easterly Government Properties (NYSE:DEA) Reaches New 12-Month Low After Analyst Downgrade

Easterly Government Properties, Inc. (NYSE:DEA)’s stock price hit a new 52-week low during trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $12.00 to $11.00. Royal Bank of Canada currently has an underperform rating on the stock. Easterly Government Properties traded as low as $10.38 and last traded at $10.48, with a volume of 1507777 shares. The stock had previously closed at $10.77.

A number of other analysts have also commented on DEA. StockNews.com raised shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th. Jefferies Financial Group decreased their price objective on Easterly Government Properties from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Truist Financial cut their target price on Easterly Government Properties from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, December 6th.

Insiders Place Their Bets

In other news, CEO Darrell W. Crate purchased 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $10.91 per share, with a total value of $109,100.00. Following the acquisition, the chief executive officer now directly owns 171,479 shares of the company’s stock, valued at approximately $1,870,835.89. This represents a 6.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEA. Wealthedge Investment Advisors LLC bought a new stake in shares of Easterly Government Properties in the fourth quarter worth about $512,000. Public Employees Retirement System of Ohio increased its stake in Easterly Government Properties by 93.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 327,382 shares of the real estate investment trust’s stock worth $3,719,000 after purchasing an additional 157,765 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in Easterly Government Properties by 60.0% during the 4th quarter. Sunbelt Securities Inc. now owns 48,149 shares of the real estate investment trust’s stock worth $537,000 after buying an additional 18,049 shares during the period. PharVision Advisers LLC acquired a new stake in Easterly Government Properties during the 4th quarter worth approximately $266,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Easterly Government Properties by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 706,257 shares of the real estate investment trust’s stock valued at $8,023,000 after buying an additional 33,951 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors.

Easterly Government Properties Price Performance

The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 1.07. The company’s fifty day moving average price is $11.14 and its two-hundred day moving average price is $12.27. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 57.74 and a beta of 0.73.

Easterly Government Properties (NYSE:DEA) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.22. Easterly Government Properties had a net margin of 6.25% and a return on equity of 1.34%. The firm had revenue of $78.25 million during the quarter, compared to analyst estimates of $79.49 million. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Easterly Government Properties, Inc. will post 1.17 EPS for the current fiscal year.

Easterly Government Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 10.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Easterly Government Properties’s payout ratio is 557.89%.

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.