SunTrust Banks Inc. Begins Coverage on Easterly Government Properties Inc. (DEA)
Analysts at SunTrust Banks Inc. started coverage on shares of Easterly Government Properties Inc. (NYSE:DEA) in a research note issued on Tuesday, The Fly reports. The firm set a “buy” rating on the real estate investment trust’s stock.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Easterly Government Properties from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Jefferies Group started coverage on shares of Easterly Government Properties in a research note on Wednesday, October 5th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Citigroup Inc. boosted their target price on shares of Easterly Government Properties from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $19.50.
Easterly Government Properties (NYSE:DEA) traded up 1.43% on Tuesday, hitting $19.11. 197,325 shares of the stock traded hands. The stock has a market cap of $670.03 million, a price-to-earnings ratio of 258.24 and a beta of 0.59. Easterly Government Properties has a 12-month low of $16.41 and a 12-month high of $20.82. The firm’s 50-day moving average price is $19.20 and its 200-day moving average price is $19.12.
Easterly Government Properties (NYSE:DEA) last announced its earnings results on Monday, August 8th. The real estate investment trust reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Easterly Government Properties had a net margin of 2.17% and a return on equity of 0.31%. The firm earned $24.90 million during the quarter, compared to the consensus estimate of $23.53 million. During the same quarter in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, equities research analysts anticipate that Easterly Government Properties will post $1.19 EPS for the current fiscal year.
In related news, Director James E. Mead acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was bought at an average price of $19.18 per share, with a total value of $76,720.00. Following the purchase, the director now directly owns 4,033 shares in the company, valued at approximately $77,352.94. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Mead acquired 2,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were bought at an average cost of $19.72 per share, with a total value of $39,440.00. The disclosure for this purchase can be found here. Insiders own 18.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of DEA. Monashee Investment Management LLC bought a new position in Easterly Government Properties during the second quarter worth approximately $505,000. California State Teachers Retirement System boosted its stake in shares of 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 worth $986,000 after buying an additional 20,711 shares during the last quarter. Ngam Advisors L.P. purchased a new stake in shares of Easterly Government Properties during the second quarter worth about $1,267,000. Bank of New York Mellon Corp boosted its stake in shares of Easterly Government Properties by 593.3% in the second quarter. Bank of New York Mellon Corp now owns 687,665 shares of the real estate investment trust’s stock worth $13,568,000 after buying an additional 588,471 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Easterly Government Properties during the second quarter worth about $280,000. 57.50% of the stock is owned by institutional investors.
Easterly Government Properties Company Profile
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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