Easterly Government Properties (NYSE:DEA) Stock Gets Price Target Cut from Citigroup

Easterly Government Properties (NYSE:DEA) had its price target decreased by Citigroup from $25.00 to $24.00 in a report released on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms also recently issued reports on DEA. Raymond James Financial reiterated an “outperform” rating and set a $27.00 price objective on shares of Easterly Government Properties in a research note on Thursday, August 13th. Wall Street Zen raised shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Truist Financial raised their target price on shares of Easterly Government Properties from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings downgraded shares of Easterly Government Properties from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday. Finally, BMO Capital Markets restated a “market perform” rating and set a $27.00 target price (up from $25.00) on shares of Easterly Government Properties in a report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Easterly Government Properties presently has a consensus rating of “Reduce” and a consensus price target of $25.60.

Easterly Government Properties Stock Performance

NYSE DEA opened at $22.38 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.50 and a quick ratio of 3.88. Easterly Government Properties has a 1-year low of $20.56 and a 1-year high of $25.96. The firm has a market capitalization of $1.06 billion, a P/E ratio of 72.19 and a beta of 0.99. The business’s 50-day simple moving average is $23.32 and its 200-day simple moving average is $23.55.

Easterly Government Properties (NYSE:DEA) last posted its earnings results on Monday, August 3rd. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Easterly Government Properties had a net margin of 3.98% and a return on equity of 1.07%. The firm had revenue of $92.42 million during the quarter, compared to the consensus estimate of $90.94 million. During the same quarter in the prior year, the company earned $0.74 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Easterly Government Properties has set its FY 2026 guidance at 3.070-3.130 EPS. Equities analysts predict that Easterly Government Properties will post 3.10 EPS for the current year.

Easterly Government Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Thursday, November 5th will be paid a $0.45 dividend. The ex-dividend date is Thursday, November 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.0%. Easterly Government Properties’s dividend payout ratio (DPR) is 580.65%.

Hedge Funds Weigh In On Easterly Government Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Easterly Government Properties by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 601,221 shares of the real estate investment trust’s stock valued at $12,885,000 after purchasing an additional 4,832 shares during the period. Bank of New York Mellon Corp acquired a new stake in Easterly Government Properties during the 2nd quarter valued at $7,237,000. Kestra Advisory Services LLC grew its holdings in Easterly Government Properties by 6.4% during the 1st quarter. Kestra Advisory Services LLC now owns 247,106 shares of the real estate investment trust’s stock valued at $5,295,000 after purchasing an additional 14,756 shares in the last quarter. First Trust Advisors LP increased its stake in Easterly Government Properties by 25.0% during the 1st quarter. First Trust Advisors LP now owns 172,030 shares of the real estate investment trust’s stock worth $3,687,000 after buying an additional 34,430 shares during the period. Finally, Bank of America Corp DE increased its stake in Easterly Government Properties by 39.7% during the 1st quarter. Bank of America Corp DE now owns 150,221 shares of the real estate investment trust’s stock worth $3,219,000 after buying an additional 42,704 shares during the period. 86.51% of the stock is owned by institutional investors and hedge funds.

Easterly Government Properties Company Profile

Easterly Government Properties, Inc is a real estate investment trust (REIT) that acquires, develops, owns and manages properties leased primarily to government agencies. Its portfolio is focused on mission-critical facilities, including offices, medical and healthcare-related buildings, laboratories, courthouses and other specialized properties used by federal, state and local government tenants.

Founded in 2011 and headquartered in Washington, DC, Easterly became a publicly traded company in 2015.