Zacks Investment Research cut shares of Easterly Government Properties (NYSE:DEA) from a hold rating to a sell rating in a report issued on Tuesday morning, 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. “
Separately, Citigroup decreased their price target on Easterly Government Properties from $20.00 to $19.00 and set a neutral rating on the stock in a research note on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $21.00.
Shares of Easterly Government Properties stock opened at $18.58 on Tuesday. Easterly Government Properties has a 52 week low of $15.16 and a 52 week high of $20.56. The firm has a market capitalization of $1.27 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 6.44 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.72.
Easterly Government Properties (NYSE:DEA) last announced its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.32). Easterly Government Properties had a net margin of 2.15% and a return on equity of 0.35%. The business had revenue of $50.60 million during the quarter, compared to analyst estimates of $49.73 million. During the same period last year, the company earned $0.31 EPS. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. Equities analysts forecast that Easterly Government Properties will post 1.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 10th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend is Friday, June 7th. Easterly Government Properties’s dividend payout ratio (DPR) is presently 88.89%.
In related news, Chairman Darrell W. Crate sold 8,125 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $17.33, for a total value of $140,806.25. Following the sale, the chairman now owns 64,154 shares in the company, valued at approximately $1,111,788.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William C. Trimble sold 9,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $17.80, for a total value of $160,200.00. Following the completion of the sale, the chief executive officer now owns 108,727 shares in the company, valued at approximately $1,935,340.60. The disclosure for this sale can be found here. Insiders sold a total of 51,375 shares of company stock worth $927,046 in the last quarter. Company insiders own 12.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of DEA. Kennedy Capital Management Inc. raised its holdings in shares of Easterly Government Properties by 208.7% in the 1st quarter. Kennedy Capital Management Inc. now owns 916,732 shares of the real estate investment trust’s stock valued at $16,510,000 after buying an additional 619,807 shares during the period. Federated Investors Inc. PA raised its holdings in shares of Easterly Government Properties by 172.6% in the 1st quarter. Federated Investors Inc. PA now owns 708,781 shares of the real estate investment trust’s stock valued at $12,765,000 after buying an additional 448,781 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Easterly Government Properties by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,180 shares of the real estate investment trust’s stock valued at $78,292,000 after buying an additional 413,255 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Easterly Government Properties by 16.8% in the 4th quarter. Cohen & Steers Inc. now owns 2,837,638 shares of the real estate investment trust’s stock valued at $44,494,000 after buying an additional 407,761 shares during the period. Finally, Penn Capital Management Co. Inc. purchased a new stake in shares of Easterly Government Properties in the 1st quarter valued at $5,889,000. Hedge funds and other institutional investors own 93.05% of the company’s stock.
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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