Zacks: Easterly Government Properties Inc. (DEA) Given Consensus Recommendation of “Buy” by Brokerages
Easterly Government Properties Inc. (NYSE:DEA) has been given a consensus broker rating score of 2.00 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. Easterly Government Properties’ rating score has improved by 20% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus price target of $20.17 for the company and are expecting that the company will post $0.30 earnings per share for the current quarter, according to Zacks. Zacks has also given Easterly Government Properties an industry rank of 93 out of 265 based on the ratings given to related companies.
A number of analysts have weighed in on DEA shares. Jefferies Group started coverage on shares of Easterly Government Properties in a report on Wednesday, October 5th. They set a “buy” rating and a $22.00 target price on the stock. Citigroup Inc. increased their target price on shares of Easterly Government Properties from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Finally, Zacks Investment Research cut shares of Easterly Government Properties from a “hold” rating to a “sell” rating in a report on Thursday, September 8th.
Shares of Easterly Government Properties (NYSE:DEA) opened at 18.47 on Friday. The stock has a 50 day moving average of $19.25 and a 200 day moving average of $19.11. Easterly Government Properties has a 1-year low of $16.41 and a 1-year high of $20.82. The firm has a market cap of $647.60 million, a PE ratio of 249.59 and a beta of 0.59.
Easterly Government Properties (NYSE:DEA) last issued its earnings results on Monday, August 8th. The real estate investment trust reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The company had revenue of $24.90 million for the quarter, compared to analysts’ expectations of $23.53 million. Easterly Government Properties had a net margin of 2.17% and a return on equity of 0.31%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. Equities research analysts anticipate that Easterly Government Properties will post $1.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, August 26th were issued a $0.23 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.98%. Easterly Government Properties’s dividend payout ratio (DPR) is presently 1,314.47%.
In related news, Director Cynthia A. Fisher bought 18,448 shares of the stock in a transaction on Tuesday, August 9th. The shares were purchased at an average price of $19.68 per share, with a total value of $363,056.64. Following the purchase, the director now owns 53,999 shares in the company, valued at $1,062,700.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Mead bought 4,000 shares of the stock in a transaction on Wednesday, August 17th. The shares were bought at an average cost of $19.18 per share, for a total transaction of $76,720.00. Following the purchase, the director now owns 4,033 shares in the company, valued at approximately $77,352.94. The disclosure for this purchase can be found here. 18.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC boosted its position in Easterly Government Properties by 18.4% in the first quarter. Nuveen Asset Management LLC now owns 428,838 shares of the real estate investment trust’s stock valued at $7,942,000 after buying an additional 66,512 shares during the last quarter. California State Teachers Retirement System boosted its position in Easterly Government Properties by 70.8% in the second quarter. California State Teachers Retirement System now owns 49,984 shares of the real estate investment trust’s stock valued at $986,000 after buying an additional 20,711 shares during the last quarter. Princeton Capital Management Inc. boosted its position in Easterly Government Properties by 24.0% in the second quarter. Princeton Capital Management Inc. now owns 19,847 shares of the real estate investment trust’s stock valued at $392,000 after buying an additional 3,846 shares during the last quarter. Societe Generale bought a new position in Easterly Government Properties during the second quarter valued at approximately $155,000. Finally, Emerald Acquisition Ltd. bought a new position in Easterly Government Properties during the second quarter valued at approximately $1,888,000. 57.84% of the stock is currently owned by hedge funds and other institutional investors.
About Easterly Government Properties
Easterly Government Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on the acquisition, development and management of Class A commercial properties that are leased to the United States Government agencies, such as the Drug Enforcement Administration, Federal Bureau of Investigation, Internal Revenue Service, Patent and Trademark Office, Customs and Border Protection, U.S.
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