Prudential Financial Inc. acquired a new stake in Easterly Government Properties, Inc. (NYSE:DEA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,222 shares of the real estate investment trust’s stock, valued at approximately $202,000.
A number of other large investors also recently added to or reduced their stakes in DEA. Russell Investments Group Ltd. acquired a new position in shares of Easterly Government Properties during the fourth quarter worth about $758,000. State Street Corp raised its position in shares of Easterly Government Properties by 5.4% in the fourth quarter. State Street Corp now owns 833,861 shares of the real estate investment trust’s stock worth $16,692,000 after buying an additional 42,985 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Easterly Government Properties by 104.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 164,574 shares of the real estate investment trust’s stock worth $3,294,000 after buying an additional 83,948 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Easterly Government Properties during the fourth quarter worth about $1,287,000. Finally, Norges Bank acquired a new position in shares of Easterly Government Properties during the fourth quarter worth about $310,000. Institutional investors and hedge funds own 90.12% of the company’s stock.
Easterly Government Properties, Inc. (NYSE:DEA) opened at 19.87 on Tuesday. The company has a 50-day moving average price of $20.31 and a 200 day moving average price of $20.20. The firm has a market capitalization of $760.76 million, a P/E ratio of 198.70 and a beta of 0.56. Easterly Government Properties, Inc. has a 1-year low of $17.94 and a 1-year high of $21.81.
Easterly Government Properties (NYSE:DEA) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.29. Easterly Government Properties had a net margin of 3.40% and a return on equity of 0.58%. The firm had revenue of $30.60 million for the quarter, compared to analyst estimates of $30.61 million. During the same period in the previous year, the business posted $0.30 EPS. Easterly Government Properties’s revenue for the quarter was up 22.9% on a year-over-year basis. Analysts expect that Easterly Government Properties, Inc. will post $0.10 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.00 annualized dividend and a yield of 5.03%. Easterly Government Properties’s dividend payout ratio (DPR) is currently 1,000.10%.
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DEA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Easterly Government Properties from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Thursday, April 20th. Jefferies Group LLC increased their target price on Easterly Government Properties from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 18th. Finally, BidaskClub lowered Easterly Government Properties from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Easterly Government Properties presently has a consensus rating of “Hold” and an average target price of $22.13.
About Easterly Government Properties
Easterly Government Properties, Inc is an internally managed real estate investment trust (REIT). The Company focuses on the acquisition, development and management of Class A commercial properties that are leased to the United States Government agencies. The Company leases its properties to such agencies through the United States General Services Administration (GSA).
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