Easterly Government Properties (NYSE:DEA) Raised to Buy at Zacks Investment Research

Easterly Government Properties (NYSE:DEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm currently has a $23.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.52% from the stock’s previous close.

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 commented on the stock. Raymond James lifted their price objective on shares of Easterly Government Properties from $24.00 to $24.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 4th. TheStreet upgraded shares of Easterly Government Properties from a “c+” rating to a “b-” rating in a research report on Thursday, July 29th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $24.92.

Shares of NYSE:DEA traded down $0.16 on Monday, hitting $20.81. 816,268 shares of the company were exchanged, compared to its average volume of 661,041. Easterly Government Properties has a 1-year low of $19.64 and a 1-year high of $23.65. The stock’s 50 day moving average price is $21.69 and its 200 day moving average price is $21.37. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $1.75 billion, a P/E ratio of 80.04 and a beta of 0.43.

Easterly Government Properties (NYSE:DEA) last posted its quarterly earnings data on Tuesday, August 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.23). Easterly Government Properties had a return on equity of 1.66% and a net margin of 8.38%. The company had revenue of $68.60 million for the quarter, compared to analyst estimates of $67.82 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts predict that Easterly Government Properties will post 1.31 EPS for the current fiscal year.

In other news, CEO William C. Trimble sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $21.65, for a total transaction of $194,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Darrell W. Crate sold 5,000 shares of the business’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $21.72, for a total transaction of $108,600.00. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $871,150 in the last ninety days. 9.00% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Easterly Government Properties by 8,062.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,089,144 shares of the real estate investment trust’s stock valued at $22,960,000 after acquiring an additional 1,075,801 shares in the last quarter. BlackRock Inc. grew its stake in Easterly Government Properties by 5.2% during the 1st quarter. BlackRock Inc. now owns 15,209,958 shares of the real estate investment trust’s stock valued at $315,305,000 after acquiring an additional 756,345 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in Easterly Government Properties during the 2nd quarter valued at about $14,568,000. Janus Henderson Group PLC grew its stake in Easterly Government Properties by 42.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,007,009 shares of the real estate investment trust’s stock valued at $41,605,000 after acquiring an additional 600,173 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Easterly Government Properties during the 1st quarter valued at about $11,908,000. 86.24% of the stock is owned by institutional investors and hedge funds.

About Easterly Government Properties

Easterly Government Properties, Inc operates as a real estate investment trust, which engages in the acquisition, development, and management of commercial properties that are leased to U.S. Government agencies. The company was founded on October 10, 2014 and is headquartered in Washington, DC.

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Analyst Recommendations for Easterly Government Properties (NYSE:DEA)

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