Easterly Government Properties (NYSE:DEA) Releases FY24 Earnings Guidance

Easterly Government Properties (NYSE:DEA) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.15 to $1.17 for the period, compared to the consensus estimate of $1.15. Easterly Government Properties also updated its FY 2024 guidance to 1.150-1.170 EPS.

Easterly Government Properties Stock Up 0.2 %

DEA stock traded up $0.03 during mid-day trading on Friday, hitting $13.56. 103,210 shares of the company were exchanged, compared to its average volume of 875,714. The firm has a fifty day simple moving average of $13.58 and a 200 day simple moving average of $12.94. The company has a market capitalization of $1.40 billion, a PE ratio of 71.19 and a beta of 0.72. Easterly Government Properties has a twelve month low of $10.62 and a twelve month high of $14.52. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 1.02.

Easterly Government Properties (NYSE:DEA) last released its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.24). The business had revenue of $74.78 million for the quarter, compared to analyst estimates of $74.98 million. Easterly Government Properties had a return on equity of 1.36% and a net margin of 6.49%. Easterly Government Properties’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. On average, research analysts forecast that Easterly Government Properties will post 1.15 earnings per share for the current fiscal year.

Easterly Government Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date of this dividend is Friday, November 15th. Easterly Government Properties’s payout ratio is 557.92%.

Analysts Set New Price Targets

Several brokerages recently weighed in on DEA. Jefferies Financial Group upgraded shares of Easterly Government Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $15.00 in a research report on Monday, October 14th. StockNews.com raised Easterly Government Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Truist Financial lifted their target price on Easterly Government Properties from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, August 29th.

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.