Zacks Investment Research lowered shares of Easterly Government Properties (NYSE:DEA) from a buy rating to a hold rating in a research note released on Tuesday morning.
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 equities analysts also recently issued reports on the stock. SunTrust Banks set a $24.00 price target on shares of Easterly Government Properties and gave the company a buy rating in a report on Sunday, December 17th. Jefferies Group reissued a buy rating and set a $24.00 price target on shares of Easterly Government Properties in a report on Tuesday, October 10th.
Shares of Easterly Government Properties (NYSE DEA) traded up $0.06 on Tuesday, hitting $20.58. 409,000 shares of the stock traded hands, compared to its average volume of 402,570. Easterly Government Properties has a 52 week low of $19.08 and a 52 week high of $22.32. The firm has a market capitalization of $909.50 and a P/E ratio of 205.80. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.70.
Easterly Government Properties (NYSE:DEA) last announced its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.30). Easterly Government Properties had a net margin of 3.12% and a return on equity of 0.54%. equities analysts expect that Easterly Government Properties will post 1.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Wednesday, December 6th were issued a dividend of $0.26 per share. This is an increase from Easterly Government Properties’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $1.04 annualized dividend and a dividend yield of 5.05%. Easterly Government Properties’s payout ratio is 1,040.00%.
A number of hedge funds have recently bought and sold shares of DEA. Schwab Charles Investment Management Inc. lifted its holdings in Easterly Government Properties by 13.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 242,918 shares of the real estate investment trust’s stock worth $5,090,000 after purchasing an additional 28,452 shares during the period. Rhumbline Advisers lifted its holdings in Easterly Government Properties by 15.6% in the second quarter. Rhumbline Advisers now owns 49,506 shares of the real estate investment trust’s stock worth $1,037,000 after purchasing an additional 6,666 shares during the period. Bank of New York Mellon Corp lifted its holdings in Easterly Government Properties by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 290,865 shares of the real estate investment trust’s stock worth $6,093,000 after purchasing an additional 22,366 shares during the period. Legal & General Group Plc lifted its holdings in Easterly Government Properties by 7.8% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 619 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Easterly Government Properties by 41.5% in the second quarter. Prudential Financial Inc. now owns 14,468 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 4,246 shares during the period. 87.22% of the stock is owned by institutional investors and hedge funds.
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About Easterly Government Properties
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).
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