Easterly Government Properties Inc (DEA) Upgraded to Hold by Zacks Investment Research

Easterly Government Properties Inc (NYSE:DEA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

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. “

Several other research firms also recently weighed in on DEA. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price target on shares of Easterly Government Properties in a research note on Thursday. Raymond James Financial, Inc. reissued a “market perform” rating and issued a $20.50 price target on shares of Easterly Government Properties in a research note on Monday, January 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $20.70.

Easterly Government Properties (NYSE:DEA) traded down 0.41% during midday trading on Monday, reaching $19.57. 163,389 shares of the company’s stock traded hands. The company has a market capitalization of $721.31 million, a price-to-earnings ratio of 195.70 and a beta of 0.58. The firm’s 50-day moving average is $20.01 and its 200-day moving average is $19.51. Easterly Government Properties has a 1-year low of $17.58 and a 1-year high of $21.07.

Easterly Government Properties (NYSE:DEA) last posted its quarterly earnings data on Thursday, March 2nd. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The business had revenue of $28.75 million for the quarter, compared to the consensus estimate of $26.85 million. Easterly Government Properties had a net margin of 2.42% and a return on equity of 0.37%. The company’s revenue was up 29.7% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. Analysts forecast that Easterly Government Properties will post $0.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th will be paid a $0.24 dividend. This is an increase from Easterly Government Properties’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Friday, March 3rd. Easterly Government Properties’s dividend payout ratio (DPR) is currently 1,371.43%.

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Several institutional investors have recently bought and sold shares of DEA. JPMorgan Chase & Co. increased its position in Easterly Government Properties by 2,812.7% in the third quarter. JPMorgan Chase & Co. now owns 2,644,067 shares of the real estate investment trust’s stock valued at $50,449,000 after buying an additional 2,553,291 shares in the last quarter. AEW Capital Management L P increased its position in Easterly Government Properties by 25.4% in the third quarter. AEW Capital Management L P now owns 1,560,411 shares of the real estate investment trust’s stock valued at $29,773,000 after buying an additional 315,911 shares in the last quarter. State Street Corp increased its position in Easterly Government Properties by 5.4% in the fourth quarter. State Street Corp now owns 833,861 shares of the real estate investment trust’s stock valued at $16,692,000 after buying an additional 42,985 shares in the last quarter. Bank of New York Mellon Corp increased its position in Easterly Government Properties by 13.9% in the third quarter. Bank of New York Mellon Corp now owns 783,095 shares of the real estate investment trust’s stock valued at $14,940,000 after buying an additional 95,430 shares in the last quarter. Finally, Putnam Investments LLC increased its position in Easterly Government Properties by 0.4% in the fourth quarter. Putnam Investments LLC now owns 747,300 shares of the real estate investment trust’s stock valued at $14,961,000 after buying an additional 3,192 shares in the last quarter. 77.87% of the stock is currently owned by hedge funds and other institutional investors.

About Easterly Government Properties

Easterly Government Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on the acquisition, development and management of Class A commercial properties that are leased to the United States Government agencies. The Company owns approximately 40 properties in the United States, encompassing approximately 3.2 million square feet in the aggregate.

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