Easterly Government Properties Inc (NYSE:DEA) hit a new 52-week high during trading on Monday . The company traded as high as $23.07 and last traded at $22.99, with a volume of 7833 shares changing hands. The stock had previously closed at $22.87.
A number of research analysts have recently commented on the company. Compass Point assumed coverage on Easterly Government Properties in a report on Monday, September 23rd. They set a “buy” rating and a $25.00 price objective on the stock. Zacks Investment Research raised Easterly Government Properties from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, October 15th. SunTrust Banks raised their target price on 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 Easterly Government Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Raymond James raised their price objective on Easterly Government Properties from $19.50 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Easterly Government Properties has a consensus rating of “Buy” and an average price target of $22.33.
The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.30 and a current ratio of 2.30. The firm has a market cap of $1.71 billion, a P/E ratio of 19.66, a P/E/G ratio of 7.94 and a beta of 0.61. The company has a 50-day moving average of $22.18 and a 200 day moving average of $20.05.
Easterly Government Properties (NYSE:DEA) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.28). Easterly Government Properties had a net margin of 3.04% and a return on equity of 0.57%. The business had revenue of $57.60 million for the quarter, compared to analyst estimates of $54.96 million. During the same period in the prior year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. Sell-side analysts anticipate that Easterly Government Properties Inc will post 1.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.53%. This is a boost 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 (DPR) is currently 88.89%.
In other news, CEO William C. Trimble sold 9,000 shares of Easterly Government Properties stock in a transaction on Friday, November 1st. The stock was sold at an average price of $22.27, for a total value of $200,430.00. Following the completion of the sale, the chief executive officer now directly owns 108,727 shares of the company’s stock, valued at approximately $2,421,350.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 27,000 shares of company stock valued at $578,250 over the last three months. Insiders own 12.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Easterly Government Properties by 8.1% during the second 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 in the last quarter. Carlson Capital L P grew its position in shares of Easterly Government Properties by 58.2% in the second quarter. Carlson Capital L P now owns 980,402 shares of the real estate investment trust’s stock valued at $17,755,000 after purchasing an additional 360,602 shares during the last quarter. Morgan Stanley grew its position in shares of Easterly Government Properties by 107.4% in the second quarter. Morgan Stanley now owns 582,902 shares of the real estate investment trust’s stock valued at $10,556,000 after purchasing an additional 301,810 shares during the last quarter. AXA grew its position in shares of Easterly Government Properties by 177.0% in the second quarter. AXA now owns 324,402 shares of the real estate investment trust’s stock valued at $5,875,000 after purchasing an additional 207,302 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Easterly Government Properties by 2.7% in the second quarter. Vanguard Group Inc. now owns 7,239,439 shares of the real estate investment trust’s stock valued at $131,107,000 after purchasing an additional 190,513 shares during the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.
About Easterly Government Properties (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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