Easterly Government Properties (NYSE:DEA) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Easterly Government Properties (NYSE:DEA) from a hold rating to a sell rating in a report released on Monday.

DEA has been the topic of several other reports. Jefferies Financial Group dropped their target price on Easterly Government Properties from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Truist Financial dropped 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.

Easterly Government Properties Trading Down 2.1 %

Easterly Government Properties stock opened at $11.21 on Monday. The stock has a market capitalization of $1.18 billion, a PE ratio of 62.28 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.01 and a quick ratio of 4.01. The business’s fifty day moving average is $11.17 and its 200 day moving average is $12.44. Easterly Government Properties has a one year low of $10.45 and a one year high of $14.52.

Easterly Government Properties (NYSE:DEA) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.22. The business had revenue of $78.25 million for the quarter, compared to analysts’ expectations of $79.49 million. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. On average, sell-side analysts predict that Easterly Government Properties will post 1.17 EPS for the current year.

Easterly Government Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 9.46%. Easterly Government Properties’s payout ratio is currently 588.89%.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its position in shares of Easterly Government Properties by 814.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,110 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 2,770 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Easterly Government Properties by 35.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,798 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 997 shares during the period. KBC Group NV raised its stake in Easterly Government Properties by 62.4% during the 3rd quarter. KBC Group NV now owns 5,242 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,014 shares during the period. Quarry LP raised its stake in Easterly Government Properties by 604.0% during the 4th quarter. Quarry LP now owns 5,878 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 5,043 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Easterly Government Properties during the 4th quarter valued at approximately $70,000. 86.51% of the stock is owned by hedge funds and other institutional investors.

About Easterly Government Properties

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.