Easterly Government Properties Inc (NYSE:DEA) Plans Quarterly Dividend of $0.26

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.

Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.28). The business had revenue of $58.22 million during the quarter, compared to analyst estimates of $59.84 million. Easterly Government Properties had a net margin of 4.06% and a return on equity of 0.79%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. Analysts anticipate that Easterly Government Properties will post 1.23 earnings per share for the current year.

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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Dividend History for Easterly Government Properties (NYSE:DEA)

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