Easterly Government Properties (NYSE:DEA) Sets New 1-Year High at $23.00

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Shares of Easterly Government Properties Inc (NYSE:DEA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $23.00 and last traded at $22.94, with a volume of 11814 shares. The stock had previously closed at $22.89.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Easterly Government Properties from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, October 15th. Raymond James upped their price target on shares of Easterly Government Properties from $19.50 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. SunTrust Banks upped their price target on shares of Easterly Government Properties from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, September 12th. ValuEngine lowered shares of Easterly Government Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Compass Point initiated coverage on shares of Easterly Government Properties in a research note on Monday, September 23rd. They set a “buy” rating and a $25.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $22.33.

The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.76. The firm’s 50 day simple moving average is $22.05 and its two-hundred day simple moving average is $19.95. The stock has a market cap of $1.69 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 7.97 and a beta of 0.61.

Easterly Government Properties (NYSE:DEA) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.28). The business had revenue of $57.60 million for the quarter, compared to the consensus estimate of $54.96 million. Easterly Government Properties had a net margin of 3.04% and a return on equity of 0.57%. The firm’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, equities analysts predict that Easterly Government Properties Inc will post 1.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.52%. This is an increase from Easterly Government Properties’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, November 12th. Easterly Government Properties’s dividend payout ratio is presently 88.89%.

In related news, CEO William C. Trimble sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $21.30, for a total transaction of $191,700.00. Following the completion of the sale, the chief executive officer now directly owns 108,727 shares in the company, valued at approximately $2,315,885.10. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 27,000 shares of company stock valued at $578,250. 12.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Easterly Government Properties by 8.1% during the 2nd quarter. BlackRock Inc. now owns 11,660,213 shares of the real estate investment trust’s stock worth $211,167,000 after acquiring an additional 874,410 shares during the period. Vanguard Group Inc. lifted its position in shares of Easterly Government Properties by 2.7% during the second quarter. Vanguard Group Inc. now owns 7,239,439 shares of the real estate investment trust’s stock worth $131,107,000 after purchasing an additional 190,513 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Easterly Government Properties by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 4,386,396 shares of the real estate investment trust’s stock worth $78,648,000 after purchasing an additional 39,216 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Easterly Government Properties by 13.4% during the third quarter. GW&K Investment Management LLC now owns 1,388,918 shares of the real estate investment trust’s stock worth $29,584,000 after purchasing an additional 163,810 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Easterly Government Properties by 2.4% during the second quarter. Invesco Ltd. now owns 1,188,945 shares of the real estate investment trust’s stock worth $21,532,000 after purchasing an additional 28,295 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Easterly Government Properties Company Profile (NYSE:DEA)

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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