Easterly Government Properties Analysts Set Average Target of $24.99

Easterly Government Properties, Inc. (NYSE: DEA) has garnered an average recommendation of “Hold” from six analysts currently tracking the stock, according to Marketbeat.com. This assessment includes one sell recommendation, three holds, and two buy ratings, reflecting a cautious outlook on the real estate investment trust’s prospects.

The average twelve-month price target among analysts who have issued reports in the past year stands at approximately $24.99. Several analysts have recently adjusted their ratings and price targets for the company. On November 24, 2023, Truist Financial revised its target price from $25.00 to $24.00, maintaining a “hold” rating. New Street Research set a more conservative target of $20.00 in its report on October 13, 2023. In contrast, Compass Point issued a more optimistic price objective of $26.45 with a “buy” rating on October 15, 2023. Additionally, Weiss Ratings upgraded the stock from a “sell (d+)” to a “hold (c-)” on December 29, 2023, while Wall Street Zen also shifted its recommendation from sell to hold.

Stock Performance and Financial Overview

As of Wednesday, February 14, 2024, shares of Easterly Government Properties opened at $22.40. The company has a market capitalization of $1.03 billion, a debt-to-equity ratio of 1.18, and both a current and quick ratio of 3.47. The stock has fluctuated within a twelve-month range, recording a low of $19.33 and a high of $29.74. Its fifty-day moving average price is $21.62, while the two-hundred-day moving average stands at $22.20.

On October 27, 2023, Easterly Government Properties reported earnings that met analysts’ expectations, with earnings per share (EPS) of $0.76. This result matches the consensus estimate. The company’s revenue for the quarter reached $86.15 million, exceeding expectations of $84.82 million, reflecting a year-over-year revenue increase of 15.2%. The previous year, the company earned $0.30 per share during the same quarter, illustrating the significant growth trajectory.

For fiscal year 2025, Easterly Government Properties has provided guidance for EPS between $2.98 and $3.02, while the guidance for fiscal year 2026 is projected at $3.05 to $3.12.

Dividend Announcement and Future Outlook

The company also declared a quarterly dividend, which was paid on November 20, 2023. Shareholders of record as of November 7, 2023, received a dividend of $0.45, signifying an annualized dividend of $1.80 and a yield of 8.0%. Notably, the dividend payout ratio stands at 600.00%, indicating a substantial portion of earnings is distributed to shareholders.

Easterly Government Properties specializes in the acquisition and management of commercial properties leased to U.S. government agencies. The firm operates as a triple-net lease REIT, focusing on single-tenant assets with long-term, credit-backed leases. Its diverse portfolio includes office buildings, training centers, laboratories, and critical installations utilized by federal agencies.

As market analysts continue to evaluate Easterly Government Properties, the mixed recommendations and varied price targets offer a snapshot of the company’s position in the competitive landscape of real estate investment trusts.