Easterly Government Properties (NYSE:DEA) Issues FY24 Earnings Guidance

Easterly Government Properties (NYSE:DEA) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.15 to $1.17 for the period, compared to the consensus earnings per share estimate of $1.15. Easterly Government Properties also updated its FY 2024 guidance to 1.150-1.170 EPS.

Wall Street Analyst Weigh In

DEA has been the subject of several research analyst reports. Truist Financial increased their target price 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. Jefferies Financial Group raised shares of Easterly Government Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $15.00 in a research report on Monday, October 14th. Finally, StockNews.com raised Easterly Government Properties from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th.

Easterly Government Properties Trading Down 0.3 %

NYSE DEA traded down $0.04 during trading on Thursday, hitting $13.53. The stock had a trading volume of 1,458,128 shares, compared to its average volume of 879,290. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.39 billion, a PE ratio of 71.58 and a beta of 0.72. The firm has a 50 day moving average price of $13.57 and a 200 day moving average price of $12.93. Easterly Government Properties has a twelve month low of $10.62 and a twelve month high of $14.52.

Easterly Government Properties (NYSE:DEA) last announced its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $74.98 million. During the same quarter last year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Easterly Government Properties will post 1.15 earnings per share for the current year.

Easterly Government Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date of this dividend is Friday, November 15th. Easterly Government Properties’s dividend payout ratio is currently 557.92%.

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.