Zacks Investment Research upgraded shares of Easterly Government Properties (NYSE:DEA) from a hold rating to a buy rating in a research note released on Wednesday, January 3rd. Zacks Investment Research currently has $24.00 price objective on the real estate investment trust’s stock.
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. “
DEA has been the subject of a number of other research reports. SunTrust Banks set a $24.00 price objective on shares of Easterly Government Properties and gave the company a buy rating in a report on Sunday, December 17th. Jefferies Group reiterated 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) opened at $20.52 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $905.12, a PE ratio of 16.50 and a beta of 0.57. Easterly Government Properties has a 12-month low of $19.08 and a 12-month high of $22.32.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Wednesday, December 6th were given a $0.26 dividend. This is an increase from Easterly Government Properties’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, December 5th. This represents a $1.04 annualized dividend and a yield of 5.07%. Easterly Government Properties’s dividend payout ratio is 1,040.00%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. increased its stake in Easterly Government Properties by 30.8% in the 2nd quarter. Advisor Group Inc. now owns 5,625 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 1,326 shares during the period. Legal & General Group Plc grew its stake in shares of Easterly Government Properties by 7.8% during the 2nd 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. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Easterly Government Properties by 72.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,582 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 3,609 shares during the period. First Trust Advisors LP acquired a new position in shares of Easterly Government Properties during the 3rd quarter worth $209,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Easterly Government Properties during the 3rd quarter worth $229,000. 87.22% of the stock is currently owned by institutional investors.
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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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