Easterly Government Properties (NYSE:DEA) Price Target Cut to $11.00 by Analysts at Royal Bank of Canada

Easterly Government Properties (NYSE:DEA) had its target price decreased by Royal Bank of Canada from $12.00 to $11.00 in a research report report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an underperform rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on DEA. Jefferies Financial Group dropped their price objective on shares of Easterly Government Properties from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. StockNews.com raised shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Truist Financial lowered their target price on Easterly Government Properties from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, December 6th.

Easterly Government Properties Price Performance

Easterly Government Properties stock opened at $10.80 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.01 and a current ratio of 4.01. The stock has a market capitalization of $1.17 billion, a P/E ratio of 59.97 and a beta of 0.73. Easterly Government Properties has a 52 week low of $10.45 and a 52 week high of $14.53. The stock has a fifty day moving average of $11.18 and a 200-day moving average of $12.31.

Easterly Government Properties (NYSE:DEA) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.22. Easterly Government Properties had a net margin of 6.25% and a return on equity of 1.34%. The firm had revenue of $78.25 million for the quarter, compared to analyst estimates of $79.49 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Easterly Government Properties will post 1.17 earnings per share for the current fiscal year.

Easterly Government Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 9.82%. The ex-dividend date is Wednesday, March 5th. Easterly Government Properties’s dividend payout ratio is currently 557.89%.

Insider Transactions at Easterly Government Properties

In related news, CEO Darrell W. Crate acquired 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $10.91 per share, for a total transaction of $109,100.00. Following the purchase, the chief executive officer now directly owns 171,479 shares of the company’s stock, valued at $1,870,835.89. The trade was a 6.19 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its holdings in shares of Easterly Government Properties by 814.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,110 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 2,770 shares during the period. Quarry LP raised its stake in Easterly Government Properties by 604.0% during the 4th quarter. Quarry LP now owns 5,878 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 5,043 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Easterly Government Properties during the 4th quarter worth approximately $70,000. KBC Group NV boosted its holdings in Easterly Government Properties by 62.4% in the third quarter. KBC Group NV now owns 5,242 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 2,014 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in Easterly Government Properties in the fourth quarter valued at approximately $87,000. 86.51% of the stock is owned by 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.