Easterly Government Properties Inc (NYSE:DEA) announced a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Investors of record on Thursday, August 13th will be given a dividend of 0.26 per share by the real estate investment trust on Friday, September 11th. This represents a $1.04 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Wednesday, August 12th.
Easterly Government Properties has raised its dividend by an average of 13.0% per year over the last three years and has increased its dividend every year for the last 3 years. Easterly Government Properties has a payout ratio of 800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Easterly Government Properties to earn $1.25 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 83.2%.
Shares of DEA opened at $24.45 on Friday. The company has a market capitalization of $1.81 billion, a PE ratio of 20.29 and a beta of 0.42. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.16 and a quick ratio of 1.16. Easterly Government Properties has a one year low of $18.62 and a one year high of $29.69. The company’s fifty day moving average price is $23.26 and its 200 day moving average price is $24.53.
Several research analysts have commented on the company. Citigroup lifted their price target on Easterly Government Properties from $23.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Zacks Investment Research upgraded shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Jefferies Financial Group raised their price target on shares of Easterly Government Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. SunTrust Banks upped their price objective on shares of Easterly Government Properties from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, May 27th. Finally, ValuEngine downgraded Easterly Government Properties from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Easterly Government Properties presently has a consensus rating of “Hold” and an average target price of $26.71.
In other news, CEO William C. Trimble sold 18,221 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.92, for a total value of $435,846.32. Following the sale, the chief executive officer now directly owns 112,235 shares in the company, valued at approximately $2,684,661.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Darrell W. Crate sold 5,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $23.08, for a total value of $115,400.00. Following the completion of the transaction, the chairman now directly owns 16,029 shares of the company’s stock, valued at $369,949.32. The disclosure for this sale can be found here. Insiders sold a total of 54,471 shares of company stock worth $1,274,746 in the last three months. Insiders own 9.90% of the company’s stock.
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.
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