Easterly Government Properties (NYSE:DEA) Trading Up 5% After Better-Than-Expected Earnings

Easterly Government Properties, Inc. (NYSE:DEA) shares traded up 5% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $11.41 and last traded at $11.34. 838,150 shares changed hands during trading, a decline of 31% from the average session volume of 1,222,596 shares. The stock had previously closed at $10.80.

The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.07 by $0.22. The firm had revenue of $78.25 million during the quarter, compared to analysts’ expectations of $79.49 million. Easterly Government Properties had a net margin of 6.25% and a return on equity of 1.34%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share.

Easterly Government Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 9.31%. The ex-dividend date is Wednesday, March 5th. Easterly Government Properties’s dividend payout ratio is currently 588.89%.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

Hedge Funds Weigh In On Easterly Government Properties

A number of hedge funds have recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Easterly Government Properties during the 3rd quarter worth $856,000. Barclays PLC raised its holdings in shares of Easterly Government Properties by 324.6% in the 3rd quarter. Barclays PLC now owns 165,212 shares of the real estate investment trust’s stock worth $2,244,000 after purchasing an additional 126,306 shares during the period. Kempner Capital Management Inc. lifted its stake in shares of Easterly Government Properties by 23.7% in the 4th quarter. Kempner Capital Management Inc. now owns 317,980 shares of the real estate investment trust’s stock valued at $3,612,000 after purchasing an additional 60,840 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Easterly Government Properties by 3.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 48,846 shares of the real estate investment trust’s stock worth $663,000 after purchasing an additional 1,637 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Easterly Government Properties by 2.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 143,148 shares of the real estate investment trust’s stock worth $1,600,000 after purchasing an additional 3,310 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

Easterly Government Properties Price Performance

The stock has a market cap of $1.20 billion, a PE ratio of 63.14 and a beta of 0.70. 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 is $11.17 and its 200 day moving average is $12.46.

About Easterly Government Properties

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.