Royal Bank of Canada Issues Pessimistic Forecast for Easterly Government Properties (NYSE:DEA) Stock Price

Easterly Government Properties (NYSE:DEA) had its price objective cut by Royal Bank of Canada from $12.00 to $11.00 in a report released on Monday morning,Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on DEA. Jefferies Financial Group cut their price target on Easterly Government Properties from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Truist Financial cut their target price on shares of Easterly Government Properties from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, December 6th. Finally, StockNews.com upgraded shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th.

Easterly Government Properties Stock Performance

NYSE:DEA opened at $10.39 on Monday. Easterly Government Properties has a twelve month low of $10.18 and a twelve month high of $14.53. The company has a market capitalization of $1.12 billion, a P/E ratio of 57.74 and a beta of 0.73. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $11.14 and a two-hundred day moving average price of $12.27.

Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.22. Easterly Government Properties had a net margin of 6.25% and a return on equity of 1.34%. The business had revenue of $78.25 million during the quarter, compared to analysts’ expectations of $79.49 million. During the same period last year, the company posted $0.28 EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Easterly Government Properties will post 1.17 earnings per share for the current fiscal year.

Easterly Government Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be paid a $0.265 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.06 annualized dividend and a yield of 10.20%. Easterly Government Properties’s payout ratio is currently 557.89%.

Insider Buying and Selling

In related news, CEO Darrell W. Crate bought 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $10.91 per share, for a total transaction of $109,100.00. Following the completion of the acquisition, the chief executive officer now owns 171,479 shares in the company, valued at $1,870,835.89. This trade represents a 6.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Easterly Government Properties

A number of large investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Easterly Government Properties during the 3rd quarter worth $856,000. Barclays PLC grew its position in Easterly Government Properties by 324.6% during the third quarter. Barclays PLC now owns 165,212 shares of the real estate investment trust’s stock valued at $2,244,000 after acquiring an additional 126,306 shares during the period. Kempner Capital Management Inc. increased its stake in Easterly Government Properties by 23.7% during the fourth quarter. Kempner Capital Management Inc. now owns 317,980 shares of the real estate investment trust’s stock worth $3,612,000 after acquiring an additional 60,840 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Easterly Government Properties by 2.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 143,148 shares of the real estate investment trust’s stock worth $1,600,000 after purchasing an additional 3,310 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Easterly Government Properties by 3.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 48,846 shares of the real estate investment trust’s stock valued at $663,000 after purchasing an additional 1,637 shares in the last quarter. Hedge funds and other institutional investors own 86.51% 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.