Easterly Government Properties (DEA) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Easterly Government Properties (NYSE:DEA) from a sell rating to a hold rating in a research note published on Friday.

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, ValuEngine upgraded shares of Easterly Government Properties from a sell rating to a hold rating in a research note on Friday, July 6th.

Shares of Easterly Government Properties stock traded down $0.33 during midday trading on Friday, hitting $18.00. The company had a trading volume of 676,410 shares, compared to its average volume of 478,977. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 3.41 and a beta of 0.52. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 0.46. Easterly Government Properties has a 1-year low of $17.42 and a 1-year high of $22.32.

Easterly Government Properties (NYSE:DEA) last announced its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.28). The company had revenue of $36.97 million during the quarter, compared to analyst estimates of $37.04 million. Easterly Government Properties had a return on equity of 0.59% and a net margin of 3.51%. As a group, research analysts forecast that Easterly Government Properties will post 1.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 13th will be given a $0.26 dividend. The ex-dividend date is Wednesday, December 12th. This represents a $1.04 annualized dividend and a yield of 5.78%. Easterly Government Properties’s dividend payout ratio (DPR) is currently 82.54%.

In related news, Chairman Darrell W. Crate sold 400,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $19.65, for a total value of $7,860,000.00. Following the completion of the transaction, the chairman now directly owns 45,000 shares of the company’s stock, valued at $884,250. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William C. Trimble sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $19.75, for a total value of $177,750.00. Following the completion of the transaction, the chief executive officer now directly owns 90,713 shares of the company’s stock, valued at $1,791,581.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 434,250 shares of company stock valued at $8,542,390. 14.90% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Easterly Government Properties by 20.3% in the second quarter. BlackRock Inc. now owns 9,073,828 shares of the real estate investment trust’s stock worth $179,299,000 after purchasing an additional 1,533,429 shares during the period. Renaissance Technologies LLC lifted its position in Easterly Government Properties by 14.3% in the second quarter. Renaissance Technologies LLC now owns 1,832,900 shares of the real estate investment trust’s stock worth $36,218,000 after purchasing an additional 229,100 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Easterly Government Properties by 10.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 568,783 shares of the real estate investment trust’s stock worth $11,240,000 after purchasing an additional 53,049 shares during the period. Legal & General Group Plc lifted its position in Easterly Government Properties by 15.9% in the second quarter. Legal & General Group Plc now owns 199,225 shares of the real estate investment trust’s stock worth $3,926,000 after purchasing an additional 27,381 shares during the period. Finally, Federated Investors Inc. PA bought a new position in Easterly Government Properties in the second quarter worth $2,470,000.

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.

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