Zacks: Analysts Expect Easterly Government Properties, Inc. (NYSE:DEA) Will Post Quarterly Sales of $67.70 Million

Equities research analysts forecast that Easterly Government Properties, Inc. (NYSE:DEA) will announce sales of $67.70 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Easterly Government Properties’ earnings. The lowest sales estimate is $67.16 million and the highest is $68.35 million. Easterly Government Properties posted sales of $60.53 million during the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The firm is expected to announce its next quarterly earnings results before the market opens on Tuesday, August 3rd.

On average, analysts expect that Easterly Government Properties will report full-year sales of $272.27 million for the current financial year, with estimates ranging from $269.09 million to $276.51 million. For the next financial year, analysts expect that the business will post sales of $298.89 million, with estimates ranging from $290.60 million to $304.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Easterly Government Properties.

Easterly Government Properties (NYSE:DEA) last issued its earnings results on Tuesday, May 4th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.24). The firm had revenue of $65.00 million for the quarter, compared to analysts’ expectations of $66.70 million. Easterly Government Properties had a return on equity of 1.32% and a net margin of 6.85%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS.

Several brokerages have recently weighed in on DEA. Raymond James lowered their price target on shares of Easterly Government Properties from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, May 6th. Citigroup began coverage on Easterly Government Properties in a report on Monday, May 3rd. They set a “buy” rating and a $26.00 price target on the stock. Finally, Zacks Investment Research raised Easterly Government Properties from a “sell” rating to a “hold” rating in a report on Wednesday, June 16th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $25.43.

Shares of DEA stock traded down $0.30 during trading hours on Monday, reaching $21.72. The company’s stock had a trading volume of 2,147 shares, compared to its average volume of 740,273. The firm has a market capitalization of $1.82 billion, a P/E ratio of 104.86 and a beta of 0.44. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.76. Easterly Government Properties has a fifty-two week low of $19.64 and a fifty-two week high of $25.79. The company’s 50 day moving average is $21.20.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 26th. Stockholders of record on Friday, May 14th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, May 13th. Easterly Government Properties’s dividend payout ratio (DPR) is presently 82.54%.

In related news, Chairman Darrell W. Crate sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $21.62, for a total value of $108,100.00. Following the transaction, the chairman now directly owns 7,428 shares of the company’s stock, valued at approximately $160,593.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William C. Trimble sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $21.51, for a total value of $193,590.00. Following the completion of the transaction, the chief executive officer now directly owns 100,279 shares in the company, valued at $2,157,001.29. The disclosure for this sale can be found here. Insiders have sold a total of 54,000 shares of company stock valued at $1,166,140 over the last ninety days. Company insiders own 9.00% of the company’s stock.

Several hedge funds have recently modified their holdings of DEA. BlackRock Inc. raised its stake in shares of Easterly Government Properties by 5.2% in 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. Janus Henderson Group PLC increased its position in Easterly Government Properties by 42.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,007,009 shares of the real estate investment trust’s stock worth $41,605,000 after buying an additional 600,173 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Easterly Government Properties in the 1st quarter worth approximately $11,908,000. Ranger Global Real Estate Advisors LLC increased its position in Easterly Government Properties by 40.8% in the 4th quarter. Ranger Global Real Estate Advisors LLC now owns 1,631,525 shares of the real estate investment trust’s stock worth $36,954,000 after buying an additional 472,586 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new position in Easterly Government Properties in the 1st quarter worth approximately $8,714,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Easterly Government Properties (NYSE:DEA)

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