Easterly Government Properties (NYSE:DEA) Trading 5% Higher Following Better-Than-Expected Earnings

Shares of Easterly Government Properties, Inc. (NYSE:DEA) rose 5% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $11.41 and last traded at $11.34. Approximately 838,150 shares were traded during trading, a decline of 31% from the average daily volume of 1,222,596 shares. The stock had previously closed at $10.80.

The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.22. The company had revenue of $78.25 million during the quarter, compared to the consensus estimate of $79.49 million. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share.

Easterly Government Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.06 dividend on an annualized basis and a yield of 9.31%. Easterly Government Properties’s dividend payout ratio is currently 588.89%.

Wall Street Analysts Forecast Growth

DEA has been the topic of several recent analyst reports. Truist Financial cut their price target on Easterly Government Properties from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, December 6th. StockNews.com lowered Easterly Government Properties from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Jefferies Financial Group decreased their price target on shares of Easterly Government Properties from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd.

Insider Transactions at Easterly Government Properties

In other news, CEO Darrell W. Crate acquired 10,000 shares of Easterly Government Properties stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $10.91 per share, for a total transaction of $109,100.00. Following the completion of the purchase, the chief executive officer now directly owns 171,479 shares of the company’s stock, valued at $1,870,835.89. This trade represents a 6.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Easterly Government Properties by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 11,159,553 shares of the real estate investment trust’s stock valued at $126,773,000 after purchasing an additional 44,202 shares during the last quarter. State Street Corp grew its stake in Easterly Government Properties by 1.2% during the 3rd quarter. State Street Corp now owns 5,839,318 shares of the real estate investment trust’s stock worth $79,298,000 after buying an additional 66,663 shares during the last quarter. Geode Capital Management LLC increased its position in Easterly Government Properties by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,572,549 shares of the real estate investment trust’s stock worth $29,230,000 after buying an additional 19,858 shares during the period. Balyasny Asset Management L.P. lifted its stake in Easterly Government Properties by 4.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,258,518 shares of the real estate investment trust’s stock valued at $25,657,000 after buying an additional 97,286 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Easterly Government Properties by 48.7% during the fourth quarter. Invesco Ltd. now owns 2,056,248 shares of the real estate investment trust’s stock valued at $23,359,000 after acquiring an additional 673,270 shares during the period. 86.51% of the stock is owned by institutional investors and hedge funds.

Easterly Government Properties Stock Up 5.4 %

The firm has a market cap of $1.20 billion, a P/E ratio of 63.14 and a beta of 0.70. The firm’s 50-day moving average price is $11.17 and its 200 day moving average price is $12.46. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 1.07.

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.