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

Easterly Government Properties, Inc. (NYSE:DEA) declared a quarterly dividend on Friday, November 1st,Wall Street Journal reports. Shareholders of record on Friday, November 15th will be paid 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 yield of 8.07%. The ex-dividend date of this dividend is Friday, November 15th.

Easterly Government Properties has raised its dividend by an average of 23.9% annually over the last three years. Easterly Government Properties has a 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. Equities 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 Price Performance

DEA stock traded down $0.11 during mid-day trading on Wednesday, reaching $13.14. 225,255 shares of the company’s stock were exchanged, compared to its average volume of 885,340. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 73.56 and a beta of 0.72. The stock’s 50 day moving average is $13.59 and its 200 day moving average is $12.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.01 and a quick ratio of 4.01. Easterly Government Properties has a 12-month low of $10.94 and a 12-month high of $14.52.

Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.24). The business had revenue of $74.78 million for the quarter, compared to analysts’ expectations of $74.98 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 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. On average, research analysts expect that Easterly Government Properties will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.