Royal Bank of Canada Cuts Easterly Government Properties (NYSE:DEA) Price Target to $11.00

Easterly Government Properties (NYSE:DEA) had its target price lowered by Royal Bank of Canada from $12.00 to $11.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an underperform rating on the real estate investment trust’s stock.

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

Easterly Government Properties Trading Up 0.4 %

NYSE:DEA opened at $10.39 on Monday. Easterly Government Properties has a 1 year low of $10.18 and a 1 year high of $14.53. The stock has a market cap of $1.12 billion, a P/E ratio of 57.74 and a beta of 0.73. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.01 and a current ratio of 4.01. The stock has a 50-day simple moving average of $11.14 and a 200-day simple moving average of $12.27.

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

Easterly Government Properties Dividend Announcement

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

Insider Transactions at Easterly Government Properties

In related news, CEO Darrell W. Crate bought 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $10.91 per share, with a total value of $109,100.00. Following the completion of the acquisition, the chief executive officer now owns 171,479 shares in the company, valued at approximately $1,870,835.89. This trade represents a 6.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Easterly Government Properties

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Easterly Government Properties by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 11,159,553 shares of the real estate investment trust’s stock worth $126,773,000 after acquiring an additional 44,202 shares during the period. State Street Corp lifted its position in Easterly Government Properties by 1.2% in the third quarter. State Street Corp now owns 5,839,318 shares of the real estate investment trust’s stock valued at $79,298,000 after purchasing an additional 66,663 shares during the period. Geode Capital Management LLC lifted its position in Easterly Government Properties by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,572,549 shares of the real estate investment trust’s stock valued at $29,230,000 after purchasing an additional 19,858 shares during the period. Balyasny Asset Management L.P. boosted its holdings in Easterly Government Properties by 4.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,258,518 shares of the real estate investment trust’s stock valued at $25,657,000 after purchasing an additional 97,286 shares in the last quarter. Finally, Invesco Ltd. increased its position in Easterly Government Properties by 48.7% during the 4th quarter. Invesco Ltd. now owns 2,056,248 shares of the real estate investment trust’s stock worth $23,359,000 after purchasing an additional 673,270 shares during the period. 86.51% of the stock is 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.