Easterly Government Properties (NYSE:DEA) Issues Quarterly Earnings Results, Meets Estimates

Easterly Government Properties (NYSE:DEA) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06, Zacks reports. The company had revenue of $92.42 million for the quarter, compared to analyst estimates of $90.94 million. Easterly Government Properties had a net margin of 3.22% and a return on equity of 0.82%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. Easterly Government Properties updated its FY 2026 guidance to 3.070-3.130 EPS.

Here are the key takeaways from Easterly Government Properties’ conference call:

• Core FFO per share rose 5.4% year over year to $0.78, exceeding the company’s 2%–3% long-term growth target. Revenue increased 10% to $92.4 million, while EBITDA grew approximately 8% to $58.4 million.
• Management raised full-year 2026 Core FFO guidance to $3.07–$3.13 per share, citing stronger-than-expected portfolio performance and successful financing activity.
• The company secured a new $200 million, five-year unsecured term loan at an initial spread of 130 basis points over SOFR, with a $50 million accordion feature. Proceeds repaid revolver borrowings, increasing liquidity for future growth.
• Portfolio fundamentals remain strong, with 98% occupancy and a 9.2-year weighted average lease term. All three development projects are progressing, including the FDLE laboratory facility expected to be delivered later this year.
• Management said its $1.5 billion acquisition and development pipeline is nearing an inflection point as the share price improves, but activity will depend on achieving sufficient spreads over the company’s cost of capital. The FAA is expected to remain through at least October, though management cautioned investors not to model additional revenue beyond the current lease term.

Easterly Government Properties Price Performance

Easterly Government Properties stock opened at $25.28 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 4.01 and a quick ratio of 4.01. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 105.34 and a beta of 0.96. The firm has a 50-day moving average of $24.50 and a two-hundred day moving average of $23.54. Easterly Government Properties has a 1 year low of $20.56 and a 1 year high of $25.96.

Easterly Government Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Monday, August 10th. Easterly Government Properties’s payout ratio is 750.00%.

Wall Street Analysts Forecast Growth

DEA has been the topic of a number of analyst reports. Weiss Ratings raised Easterly Government Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. BMO Capital Markets reissued a “market perform” rating and set a $27.00 price target (up from $25.00) on shares of Easterly Government Properties in a research note on Monday. Finally, Wall Street Zen downgraded Easterly Government Properties from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.89.

More Easterly Government Properties News

Here are the key news stories impacting Easterly Government Properties this week:

• Positive Sentiment: Second-quarter results exceeded expectations. Easterly reported revenue of $92.42 million, above the $90.94 million consensus estimate, while revenue increased 9.8% year over year. Earnings coverage also characterized the quarter as ahead of forecasts, although reported EPS figures vary by source and may reflect different accounting or adjusted measures. Easterly Government Properties Reports Second Quarter 2026 Results
• Positive Sentiment: Full-year core FFO guidance was raised. Management now expects 2026 core FFO of $3.07 to $3.13 per share, compared with the $3.10 analyst consensus. The updated range signals continued confidence in cash-flow generation and is a key positive for a REIT valued primarily on funds from operations and dividend sustainability. Easterly Government Properties raises 2026 core FFO guidance
• Positive Sentiment: A $1.5 billion investment pipeline provides a potential growth catalyst. The company is emphasizing acquisitions and development focused on properties leased to the U.S. government and related agencies, which could expand the portfolio and support future FFO growth if transactions are executed attractively.
• Neutral Sentiment: Investor reaction is tempered by valuation and execution concerns. Analysis described the quarter as somewhat disappointing despite arguing that DEA remains too inexpensive to downgrade. With a high reported P/E ratio and shares close to their 12-month high, additional gains may depend on successful deployment of the pipeline and continued improvement in operating performance. Easterly Government Properties analysis
• Negative Sentiment: REIT-specific risks remain. Easterly’s debt-to-equity ratio of 1.26 leaves the company exposed to interest rates and refinancing costs, while its low net margin and reliance on government-related tenants could limit upside if financing conditions deteriorate or acquisition activity slows.

Institutional Trading of Easterly Government Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its position in shares of Easterly Government Properties by 1,759.2% in the 1st quarter. Millennium Management LLC now owns 1,000,176 shares of the real estate investment trust’s stock worth $10,602,000 after buying an additional 946,381 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Easterly Government Properties by 92.4% in the fourth quarter. JPMorgan Chase & Co. now owns 488,303 shares of the real estate investment trust’s stock valued at $10,347,000 after acquiring an additional 234,517 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in Easterly Government Properties by 92.2% in the fourth quarter. Kestra Advisory Services LLC now owns 232,350 shares of the real estate investment trust’s stock worth $4,923,000 after purchasing an additional 111,447 shares during the last quarter. AXA S.A. purchased a new position in Easterly Government Properties in the second quarter worth $2,084,000. Finally, Jane Street Group LLC increased its position in shares of Easterly Government Properties by 271.5% during the first quarter. Jane Street Group LLC now owns 115,677 shares of the real estate investment trust’s stock worth $1,226,000 after purchasing an additional 84,536 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

About Easterly Government Properties

Easterly Government Properties, Inc is a real estate investment trust that specializes in the acquisition, development and management of commercial properties leased to U.S. government agencies. Structured as a triple-net lease REIT, the company focuses on single-tenant assets with long-term, credit-backed leases that transfer most property-level responsibilities—including taxes, insurance and maintenance—to its government tenants.

The firm’s portfolio encompasses a variety of facility types, including office buildings, training centers, laboratories and mission-critical installations used by federal agencies.