Easterly Government Properties Inc (DEA) Boosted to “Purchase” at Zacks Investment Research

Easterly Government Properties Inc (DEA) Boosted to “Purchase” at Zacks Investment Research

Easterly Government Properties Inc (NYSE:DEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $23.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.20% from the stock’s current price.

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. “

Separately, Jefferies Group LLC reissued a “buy” rating and issued a $24.00 price target on shares of Easterly Government Properties in a research report on Monday, May 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Easterly Government Properties has a consensus rating of “Buy” and an average price target of $21.50.

Easterly Government Properties (DEA) traded up 1.23% during mid-day trading on Friday, reaching $20.50. The company’s stock had a trading volume of 163,485 shares. The firm has a market capitalization of $757.93 million, a price-to-earnings ratio of 200.98 and a beta of 0.58. The company’s 50-day moving average price is $20.09 and its 200 day moving average price is $19.89. Easterly Government Properties has a 52 week low of $17.94 and a 52 week high of $21.38.

Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.03 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 during the quarter, compared to analysts’ expectations of $28.14 million. During the same period in the prior year, the business earned $0.30 EPS. The business’s quarterly revenue was up 24.7% on a year-over-year basis. On average, equities analysts forecast that Easterly Government Properties will post $0.18 earnings per share for the current fiscal year.

The company also recently disclosed 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. This is a boost from Easterly Government Properties’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, June 12th. Easterly Government Properties’s payout ratio is 1,371.43%.

Several large investors have recently added to or reduced their stakes in DEA. 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 valued at $1,255,000 after buying an additional 300 shares during the period. Wells Fargo & Company MN boosted its stake in Easterly Government Properties by 0.3% in the first quarter. Wells Fargo & Company MN now owns 232,680 shares of the real estate investment trust’s stock valued at $4,604,000 after buying an additional 643 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Easterly Government Properties by 2.4% in the first quarter. Parametric Portfolio Associates LLC now owns 29,898 shares of the real estate investment trust’s stock valued at $592,000 after buying an additional 705 shares during the period. Pioneer Investment Management Inc. boosted its stake in Easterly Government Properties by 1.2% in the first quarter. Pioneer Investment Management Inc. now owns 81,484 shares of the real estate investment trust’s stock valued at $1,613,000 after buying an additional 1,000 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Easterly Government Properties by 2.2% in the first quarter. Alliancebernstein L.P. now owns 50,338 shares of the real estate investment trust’s stock valued at $996,000 after buying an additional 1,100 shares during the period. 77.87% of the stock is owned by institutional investors and hedge funds.

Easterly Government Properties Company Profile

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DEA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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