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

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 dividend yield of 8.10%. The ex-dividend date is Friday, November 15th.

Easterly Government Properties has increased its dividend by an average of 23.9% per year 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 Stock Performance

Easterly Government Properties stock opened at $13.09 on Thursday. Easterly Government Properties has a twelve month low of $10.94 and a twelve month high of $14.52. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $1.38 billion, a P/E ratio of 72.69 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.

Easterly Government Properties (NYSE:DEA) last posted its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.24). Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The company had revenue of $74.78 million during the quarter, compared to analysts’ expectations of $74.98 million. During the same period in the prior year, the firm earned $0.29 EPS. Easterly Government Properties’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Easterly Government Properties will post 1.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DEA has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Easterly Government Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $15.00 in a report on Monday, October 14th. StockNews.com upgraded shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Truist Financial lifted their price target on shares of Easterly Government Properties from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th.

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.