Easterly Government Properties (NYSE:DEA) Stock Price Down 5.3% – Here’s Why

Easterly Government Properties, Inc. (NYSE:DEA) shares were down 5.3% during mid-day trading on Friday . The company traded as low as $11.90 and last traded at $11.91. Approximately 311,023 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 897,120 shares. The stock had previously closed at $12.57.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com upgraded Easterly Government Properties from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group raised shares of Easterly Government Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $15.00 in a research report on Monday, October 14th. Finally, Truist Financial lifted their target price on shares of Easterly Government Properties from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th.

Easterly Government Properties Trading Down 3.6 %

The firm’s 50 day moving average is $13.57 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. The company has a market cap of $1.25 billion, a PE ratio of 66.17 and a beta of 0.72.

Easterly Government Properties (NYSE:DEA) last announced its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.24). The business 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%. Easterly Government Properties’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, equities analysts anticipate that Easterly Government Properties, Inc. will post 1.15 earnings per share for the current year.

Easterly Government Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.06 annualized dividend and a dividend yield of 8.93%. Easterly Government Properties’s dividend payout ratio (DPR) is presently 588.89%.

Hedge Funds Weigh In On Easterly Government Properties

A number of large investors have recently bought and sold shares of DEA. GAMMA Investing LLC grew its position in shares of Easterly Government Properties by 56.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,006 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 1,086 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Easterly Government Properties by 35.6% during the third 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 last quarter. KBC Group NV boosted its position in shares of Easterly Government Properties by 62.4% in the 3rd quarter. KBC Group NV now owns 5,242 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 2,014 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Easterly Government Properties during the 1st quarter valued at approximately $89,000. Finally, National Bank of Canada FI purchased a new position in Easterly Government Properties during the second quarter valued at $115,000. 86.51% of the stock is owned by hedge funds and other institutional investors.

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.