Easterly Government Properties (NYSE:DEA) Hits New 52-Week Low – Here’s Why

Shares of Easterly Government Properties, Inc. (NYSE:DEA) hit a new 52-week low during trading on Friday . The company traded as low as $7.89 and last traded at $8.20, with a volume of 6061343 shares trading hands. The stock had previously closed at $9.52.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Royal Bank of Canada cut their target price on shares of Easterly Government Properties from $12.00 to $11.00 and set an “underperform” rating on the stock in a report on Monday, March 10th. Jefferies Financial Group began coverage on Easterly Government Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $13.00 price objective for the company. Compass Point reaffirmed a “neutral” rating and issued a $9.50 price target (down previously from $15.00) on shares of Easterly Government Properties in a research note on Thursday. Finally, StockNews.com raised shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.63.

Easterly Government Properties Stock Down 1.6 %

The firm’s 50 day moving average price is $10.50 and its two-hundred day moving average price is $11.71. The company has a market capitalization of $874.03 million, a P/E ratio of 44.97 and a beta of 0.87. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 1.07.

Easterly Government Properties shares are scheduled to reverse split on Monday, April 28th. The 2-5 reverse split was announced on Wednesday, April 9th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 25th.

Easterly Government Properties (NYSE:DEA) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.22. The firm had revenue of $78.25 million for the quarter, compared to analyst estimates of $79.49 million. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. Equities research analysts forecast that Easterly Government Properties, Inc. will post 1.17 EPS for the current year.

Easterly Government Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 13.09%. The ex-dividend date was Wednesday, March 5th. Easterly Government Properties’s payout ratio is currently 557.89%.

Institutional Trading of Easterly Government Properties

Several institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its holdings in Easterly Government Properties by 3.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 48,846 shares of the real estate investment trust’s stock valued at $663,000 after purchasing an additional 1,637 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Easterly Government Properties in the third quarter valued at about $142,000. State Street Corp increased its position in Easterly Government Properties by 1.2% during the third quarter. State Street Corp now owns 5,839,318 shares of the real estate investment trust’s stock worth $79,298,000 after acquiring an additional 66,663 shares during the period. National Bank of Canada FI raised its stake in Easterly Government Properties by 430.2% in the 3rd quarter. National Bank of Canada FI now owns 49,905 shares of the real estate investment trust’s stock worth $678,000 after purchasing an additional 40,492 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Easterly Government Properties by 324.6% in the 3rd quarter. Barclays PLC now owns 165,212 shares of the real estate investment trust’s stock valued at $2,244,000 after purchasing an additional 126,306 shares during the period. Institutional investors own 86.51% of the company’s stock.

Easterly Government Properties Company Profile

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.