Easterly Government Properties (NYSE:DEA) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Easterly Government Properties (NYSE:DEA) from a buy rating to a hold rating in a report released on Wednesday, 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. “

Several other equities research analysts also recently issued reports on DEA. Jefferies Financial Group restated a buy rating and set a $28.00 target price on shares of Easterly Government Properties in a research report on Tuesday, August 11th. Citigroup dropped their target price on Easterly Government Properties from $29.00 to $26.00 and set a neutral rating on the stock in a research report on Monday, August 24th. Finally, ValuEngine upgraded Easterly Government Properties from a sell rating to a hold rating in a research report on Monday, August 3rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $25.50.

Easterly Government Properties stock opened at $22.21 on Wednesday. Easterly Government Properties has a 12 month low of $19.00 and a 12 month high of $29.69. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70. The business’s 50 day simple moving average is $23.18 and its 200 day simple moving average is $24.39. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 222.10 and a beta of 0.47.

Easterly Government Properties (NYSE:DEA) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.26). Easterly Government Properties had a net margin of 3.10% and a return on equity of 0.60%. The firm had revenue of $60.53 million during the quarter, compared to analysts’ expectations of $60.78 million. During the same quarter in the previous year, the company posted $0.29 EPS. Easterly Government Properties’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities research analysts forecast that Easterly Government Properties will post 1.24 earnings per share for the current fiscal year.

In other news, Chairman Darrell W. Crate sold 5,000 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $22.70, for a total value of $113,500.00. Following the transaction, the chairman now owns 16,029 shares of the company’s stock, valued at $363,858.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William C. Trimble sold 6,250 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $22.52, for a total transaction of $140,750.00. Following the completion of the transaction, the chief executive officer now directly owns 100,264 shares in the company, valued at approximately $2,257,945.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,750 shares of company stock worth $1,740,875. Insiders own 9.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in DEA. M&R Capital Management Inc. increased its stake in Easterly Government Properties by 2.8% in the third quarter. M&R Capital Management Inc. now owns 21,995 shares of the real estate investment trust’s stock valued at $492,000 after acquiring an additional 600 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Easterly Government Properties by 4.9% in the second quarter. Janney Montgomery Scott LLC now owns 17,608 shares of the real estate investment trust’s stock valued at $407,000 after acquiring an additional 818 shares during the last quarter. California Public Employees Retirement System increased its stake in Easterly Government Properties by 0.6% in the second quarter. California Public Employees Retirement System now owns 168,981 shares of the real estate investment trust’s stock valued at $3,907,000 after acquiring an additional 1,055 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Easterly Government Properties by 246.0% in the second quarter. Glenmede Trust Co. NA now owns 1,519 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,080 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in Easterly Government Properties by 0.9% in the second quarter. New York State Teachers Retirement System now owns 118,064 shares of the real estate investment trust’s stock valued at $2,730,000 after acquiring an additional 1,100 shares during the last quarter. 94.77% of the stock is currently owned by hedge funds and other institutional investors.

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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