Easterly Government Properties, Inc. (NYSE:DEA) Announces Quarterly Dividend of $0.27

Easterly Government Properties, Inc. (NYSE:DEA) declared a quarterly dividend on Friday, November 1st,Wall Street Journal reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.265 per share by the real estate investment trust on Wednesday, November 27th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date of this dividend is Friday, November 15th.

Easterly Government Properties has increased its dividend payment by an average of 23.9% per year over the last three years. Easterly Government Properties has a dividend payout ratio of 504.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Easterly Government Properties to earn $1.19 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 89.1%.

Easterly Government Properties Trading Down 1.2 %

Easterly Government Properties stock traded down $0.16 during trading hours on Wednesday, hitting $13.09. The company had a trading volume of 202,439 shares, compared to its average volume of 885,236. 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 firm has a market cap of $1.38 billion, a P/E ratio of 73.56 and a beta of 0.72. The company has a 50-day moving average price of $13.59 and a two-hundred day moving average price of $12.99. Easterly Government Properties has a 1 year low of $10.94 and a 1 year high of $14.52.

Easterly Government Properties (NYSE:DEA) last announced its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.24). The firm had revenue of $74.78 million during the quarter, compared to the consensus estimate of $74.98 million. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. On average, sell-side analysts anticipate that Easterly Government Properties will post 1.15 earnings per share for the current year.

Wall Street Analyst Weigh In

DEA has been the topic of a number of research reports. StockNews.com raised shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Truist Financial lifted their price objective on shares of Easterly Government Properties from $13.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group raised Easterly Government Properties from a “hold” rating to a “buy” rating and increased their target price for the company from $13.00 to $15.00 in a research report on Monday, October 14th.

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.