Easterly Government Properties (NYSE:DEA) Releases FY 2024 Earnings Guidance

Easterly Government Properties (NYSE:DEA) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.150-1.170 for the period, compared to the consensus EPS estimate of 1.150. The company issued revenue guidance of -. Easterly Government Properties also updated its FY 2025 guidance to 1.170-1.210 EPS.

Easterly Government Properties Price Performance

DEA traded down $0.04 on Thursday, hitting $13.53. 1,458,128 shares of the company were exchanged, compared to its average volume of 879,290. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.57 and a current ratio of 3.57. The business’s fifty day moving average is $13.57 and its 200 day moving average is $12.93. Easterly Government Properties has a fifty-two week low of $10.62 and a fifty-two week high of $14.52. The firm has a market capitalization of $1.39 billion, a P/E ratio of 71.58 and a beta of 0.72.

Easterly Government Properties (NYSE:DEA) last announced 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 net margin of 6.49% and a return on equity of 1.36%. The business had revenue of $74.78 million during the quarter, compared to analysts’ expectations of $74.98 million. During the same period last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Easterly Government Properties will post 1.15 EPS for the current year.

Easterly Government Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 7.84%. The ex-dividend date is Friday, November 15th. Easterly Government Properties’s dividend payout ratio (DPR) is presently 557.92%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Easterly Government Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.00 to $15.00 in a research note on Monday, October 14th. Truist Financial upped their price objective on shares of Easterly Government Properties from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, StockNews.com raised shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th.

About Easterly Government Properties

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.