Easterly Government Properties, Inc. Declares Quarterly Dividend of $0.27 (NYSE:DEA)

Easterly Government Properties, Inc. (NYSE:DEA) declared a quarterly dividend on Friday, November 1st,Wall Street Journal reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.265 per share by the real estate investment trust on Wednesday, November 27th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date of this dividend is Friday, November 15th.

Easterly Government Properties has increased its dividend payment by an average of 23.9% annually over the last three years. Easterly Government Properties has a payout ratio of 504.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Easterly Government Properties to earn $1.19 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 89.1%.

Easterly Government Properties Price Performance

NYSE:DEA opened at $13.09 on Thursday. Easterly Government Properties has a 52 week low of $10.94 and a 52 week high of $14.52. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.38 billion, a PE ratio of 72.69 and a beta of 0.72. The business’s 50-day simple moving average is $13.59 and its two-hundred day simple moving average is $12.99.

Easterly Government Properties (NYSE:DEA) last issued its earnings results 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). The company had revenue of $74.78 million for the quarter, compared to the consensus estimate of $74.98 million. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. Easterly Government Properties’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. As a group, analysts forecast that Easterly Government Properties will post 1.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on DEA. Jefferies Financial Group raised Easterly Government Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $15.00 in a report on Monday, October 14th. StockNews.com raised Easterly Government Properties from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Truist Financial increased their target price on Easterly Government Properties from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, August 29th.

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.