Easterly Government Properties Inc (NYSE:DEA) declared a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Investors of record on Thursday, August 13th will be given a dividend of 0.26 per share by the real estate investment trust on Friday, September 11th. This represents a $1.04 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Wednesday, August 12th.
Easterly Government Properties has increased its dividend by an average of 13.0% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Easterly Government Properties has a payout ratio of 800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Easterly Government Properties to earn $1.25 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 83.2%.
Shares of NYSE:DEA opened at $24.45 on Friday. The company’s 50-day moving average price is $23.26 and its two-hundred day moving average price is $24.53. Easterly Government Properties has a one year low of $18.62 and a one year high of $29.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $1.81 billion, a PE ratio of 20.29 and a beta of 0.42.
Easterly Government Properties (NYSE:DEA) last released its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.28). Easterly Government Properties had a net margin of 4.06% and a return on equity of 0.79%. The company had revenue of $58.22 million during the quarter, compared to analyst estimates of $59.84 million. During the same period in the prior year, the firm posted $0.29 EPS. Easterly Government Properties’s revenue was up 15.0% compared to the same quarter last year. On average, analysts anticipate that Easterly Government Properties will post 1.23 earnings per share for the current fiscal year.
DEA has been the topic of a number of analyst reports. SunTrust Banks upped their price objective on Easterly Government Properties from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, May 27th. Jefferies Financial Group upped their price target on shares of Easterly Government Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Zacks Investment Research raised shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Citigroup boosted their price objective on shares of Easterly Government Properties from $23.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Finally, ValuEngine downgraded shares of Easterly Government Properties from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $26.71.
In related news, Chairman Darrell W. Crate sold 5,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $23.08, for a total transaction of $115,400.00. Following the sale, the chairman now owns 16,029 shares of the company’s stock, valued at $369,949.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William C. Trimble sold 6,250 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $22.92, for a total value of $143,250.00. Following the transaction, the chief executive officer now owns 100,264 shares in the company, valued at approximately $2,298,050.88. The disclosure for this sale can be found here. Insiders have sold a total of 54,471 shares of company stock worth $1,274,746 in the last quarter. Company insiders own 9.90% of the company’s stock.
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.
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