Easterly Government Properties (NYSE:DEA) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Easterly Government Properties (NYSE:DEA) from a hold rating to a sell rating in a report published on Tuesday 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 lowered their price objective on Easterly Government Properties from $20.00 to $19.00 and set a neutral rating on the stock in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $21.00.

Shares of NYSE DEA opened at $18.42 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 6.51 and a beta of 0.68. Easterly Government Properties has a 12 month low of $15.16 and a 12 month high of $20.56.

Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.32). The business had revenue of $50.60 million during the quarter, compared to the consensus estimate of $49.73 million. Easterly Government Properties had a return on equity of 0.35% and a net margin of 2.15%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, research analysts forecast that Easterly Government Properties will post 1.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Friday, June 7th. Easterly Government Properties’s dividend payout ratio is presently 88.89%.

In other news, CEO William C. Trimble sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $17.80, for a total transaction of $160,200.00. Following the sale, the chief executive officer now directly owns 108,727 shares in the company, valued at $1,935,340.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Darrell W. Crate sold 8,125 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $17.33, for a total value of $140,806.25. Following the sale, the chairman now owns 64,154 shares in the company, valued at $1,111,788.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,375 shares of company stock worth $927,046. 12.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in Easterly Government Properties by 183.6% in the 1st quarter. Advisory Services Network LLC now owns 1,421 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 920 shares in the last quarter. Pearl River Capital LLC acquired a new stake in Easterly Government Properties in the 4th quarter valued at $27,000. Pennsylvania Trust Co acquired a new stake in Easterly Government Properties in the 1st quarter valued at $384,000. Huntington National Bank acquired a new stake in Easterly Government Properties in the 1st quarter valued at $51,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in Easterly Government Properties in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 93.05% of the company’s stock.

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.

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