Easterly Government Properties (NYSE:DEA) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Easterly Government Properties (NYSE:DEA) from a sell rating to a hold rating in a research note published on Monday morning, Zacks.com reports.

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, Citigroup upped their price objective on PVH from $120.00 to $128.00 and gave the stock a neutral rating in a report on Friday, March 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Easterly Government Properties presently has a consensus rating of Buy and a consensus target price of $21.00.

DEA opened at $18.45 on Monday. The business has a 50-day moving average price of $18.45. Easterly Government Properties has a 12-month low of $15.16 and a 12-month high of $20.56. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market cap of $1.27 billion, a PE ratio of 15.77, a P/E/G ratio of 6.49 and a beta of 0.64.

Easterly Government Properties (NYSE:DEA) last posted its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). Easterly Government Properties had a return on equity of 0.35% and a net margin of 2.15%. The firm had revenue of $50.60 million during the quarter, compared to analysts’ expectations of $49.73 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. Easterly Government Properties’s revenue for the quarter was up 40.6% compared to the same quarter last year. Research analysts expect that Easterly Government Properties will post 1.19 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Friday, June 7th. Easterly Government Properties’s dividend payout ratio (DPR) is presently 88.89%.

In other news, Chairman Darrell W. Crate sold 8,125 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $18.62, for a total value of $151,287.50. Following the completion of the sale, the chairman now owns 64,154 shares of the company’s stock, valued at approximately $1,194,547.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William C. Trimble sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $18.04, for a total value of $162,360.00. Following the transaction, the chief executive officer now directly owns 108,727 shares of the company’s stock, valued at approximately $1,961,435.08. The disclosure for this sale can be found here. In the last three months, insiders sold 55,875 shares of company stock valued at $1,014,748. 12.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Easterly Government Properties by 1.6% during the 4th quarter. BlackRock Inc. now owns 10,993,248 shares of the real estate investment trust’s stock valued at $172,375,000 after purchasing an additional 169,468 shares during the last quarter. JPMorgan Chase & Co. raised its position in Easterly Government Properties by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,180 shares of the real estate investment trust’s stock valued at $78,292,000 after purchasing an additional 413,255 shares during the last quarter. Cohen & Steers Inc. raised its position in Easterly Government Properties by 16.8% during the 4th quarter. Cohen & Steers Inc. now owns 2,837,638 shares of the real estate investment trust’s stock valued at $44,494,000 after purchasing an additional 407,761 shares during the last quarter. Nuveen Asset Management LLC raised its position in Easterly Government Properties by 4.1% during the 4th quarter. Nuveen Asset Management LLC now owns 2,012,251 shares of the real estate investment trust’s stock valued at $31,552,000 after purchasing an additional 79,246 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in Easterly Government Properties by 20.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,891,930 shares of the real estate investment trust’s stock valued at $29,665,000 after purchasing an additional 325,486 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.

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