Easterly Government Properties (NYSE:DEA) Coverage Initiated at Citigroup

Citigroup initiated coverage on shares of Easterly Government Properties (NYSE:DEA) in a report released on Thursday, The Fly reports. The firm set a “buy” rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on DEA. Zacks Investment Research cut shares of Easterly Government Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, September 28th. TheStreet raised shares of Easterly Government Properties from a “c+” rating to a “b-” rating in a research note on Thursday, July 29th. Finally, Raymond James lifted their target price on shares of Easterly Government Properties from $24.00 to $24.50 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $24.92.

Shares of NYSE DEA traded up $0.48 during mid-day trading on Thursday, reaching $21.69. 32,550 shares of the company were exchanged, compared to its average volume of 715,148. The stock has a market capitalization of $1.82 billion, a PE ratio of 82.54 and a beta of 0.43. The company’s 50 day moving average price is $21.39 and its 200 day moving average price is $21.34. Easterly Government Properties has a 52 week low of $19.64 and a 52 week high of $23.65. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.78.

Easterly Government Properties (NYSE:DEA) last released its quarterly earnings data on Tuesday, August 3rd. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). Easterly Government Properties had a net margin of 8.38% and a return on equity of 1.66%. The firm had revenue of $68.60 million during the quarter, compared to analysts’ expectations of $67.82 million. During the same quarter in the previous year, the firm posted $0.31 EPS. Easterly Government Properties’s revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts predict that Easterly Government Properties will post 1.31 earnings per share for the current year.

In other Easterly Government Properties news, Chairman Darrell W. Crate sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $22.48, for a total transaction of $112,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Darrell W. Crate sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $20.80, for a total transaction of $41,600.00. Following the sale, the chairman now directly owns 7,428 shares of the company’s stock, valued at $154,502.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,034 shares of company stock worth $589,067. Insiders own 9.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in shares of Easterly Government Properties by 4.9% in the first quarter. Ameriprise Financial Inc. now owns 374,489 shares of the real estate investment trust’s stock worth $7,762,000 after purchasing an additional 17,573 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Easterly Government Properties by 0.5% during the first quarter. UBS Asset Management Americas Inc. now owns 507,442 shares of the real estate investment trust’s stock worth $10,519,000 after acquiring an additional 2,403 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Easterly Government Properties by 6.8% during the second quarter. New York State Common Retirement Fund now owns 203,073 shares of the real estate investment trust’s stock worth $4,281,000 after acquiring an additional 12,938 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Easterly Government Properties during the second quarter worth $214,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Easterly Government Properties during the second quarter worth $214,000. 86.24% of the stock is owned by hedge funds and other institutional investors.

About Easterly Government Properties

Easterly Government Properties, Inc operates as a real estate investment trust, which engages in the acquisition, development, and management of commercial properties that are leased to U.S. Government agencies. The company was founded on October 10, 2014 and is headquartered in Washington, DC.

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