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

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

Easterly Government Properties Trading Up 1.3 %

Shares of NYSE:DEA traded up $0.17 on Wednesday, reaching $13.56. 1,980,360 shares of the company traded hands, compared to its average volume of 876,598. The stock has a market capitalization of $1.40 billion, a P/E ratio of 71.05 and a beta of 0.72. The business’s 50-day simple moving average is $13.57 and its 200 day simple moving average is $12.93. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 1.02. Easterly Government Properties has a 52 week low of $10.62 and a 52 week high of $14.52.

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 the consensus estimate of $0.29 by ($0.24). The company had revenue of $74.78 million for the quarter, compared to analysts’ expectations of $74.98 million. Easterly Government Properties had a net margin of 6.49% and a return on equity of 1.36%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. As a group, equities analysts anticipate that Easterly Government Properties will post 1.15 EPS for the current fiscal year.

Easterly Government Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a dividend of $0.265 per share. The ex-dividend date is Friday, November 15th. This represents a $1.06 dividend on an annualized basis and a yield of 7.82%. Easterly Government Properties’s dividend payout ratio is currently 557.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Jefferies Financial Group upgraded Easterly Government Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $13.00 to $15.00 in a report on Monday, October 14th. Finally, Truist Financial upped their price target 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.