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Easterly Govt Pptys Inc - DEA STOCK NEWS

Welcome to our dedicated page for Easterly Govt Pptys news (Ticker: DEA), a resource for investors and traders seeking the latest updates and insights on Easterly Govt Pptys stock.

Easterly Government Properties, Inc. (symbol: DEA) is a specialized real estate investment trust (REIT) focusing on the acquisition, development, and management of Class A commercial properties. These properties are leased to U.S. government agencies, providing essential functions across the country. The company's revenue is predominantly generated through leasing agreements with these agencies, secured through the U.S. General Services Administration (GSA).

Easterly's multidisciplinary team brings a wealth of complementary skills and experience, crucial for driving its business and growth strategies. The company aims to expand its portfolio by pursuing attractive acquisition opportunities, developing built-to-suit properties for U.S. government use, and renewing existing leases at higher rates.

One of Easterly's key assets is its proprietary database, which tracks approximately 8,500 leases covering around 200 million rentable square feet. This database includes nearly every major U.S. government-leased property that aligns with the company's investment criteria, along with detailed ownership information.

Recent achievements include securing new leases and developing state-of-the-art facilities custom-built for government agencies. Financially, Easterly maintains a robust balance sheet and is well-positioned to capitalize on future growth opportunities.

Overall, Easterly Government Properties, Inc. plays a pivotal role in providing critical infrastructure to the U.S. government, ensuring the seamless execution of essential services.

News

Easterly Government Properties Schedules First Quarter 2024 Earnings Release and Conference Call

Rhea-AI Summary
Easterly Government Properties, Inc. (NYSE: DEA) will release its first quarter 2024 financial results on April 30, 2024. A conference call will be held to review performance, recent events, and conduct a Q&A session.
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Easterly Government Properties Awarded Lease to Develop 50,777 RSF Federal Courthouse in Flagstaff, Arizona

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Easterly Government Properties, Inc. (NYSE: DEA) secures a 20-year lease for a 50,777 RSF federal courthouse in Flagstaff, Arizona, marking its first net zero development project. The state-of-the-art courthouse will be built to Level III security standards and LEED Silver certification, showcasing Easterly's commitment to ESG principles. The project is set to commence in late 2024 or early 2025, with an expected completion in the first half of 2026.
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Easterly Government Properties to Participate in the Citi 2024 Global Property CEO Conference

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Easterly Government Properties, Inc. (NYSE: DEA) will present at the Citi 2024 Global Property CEO Conference in Florida. Investors can listen to the live audio-webcast on the company's Investor Relations website.
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Easterly Government Properties Reports Fourth Quarter and Full Year 2023 Results

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Easterly Government Properties, Inc. (NYSE: DEA) reported net income of $4.8 million and Core FFO of $30.1 million for the quarter ended December 31, 2023. The company acquired three properties and released its second annual ESG report. Darrell W. Crate was appointed as CEO. The Company also entered into forward sales transactions and completed acquisitions totaling $80.4 million for the year ended December 31, 2023.
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Easterly Government Properties Announces Quarterly Dividend

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Easterly Government Properties, Inc. (NYSE: DEA) declares a quarterly cash dividend of $0.265 per common share, offering investors a 9% anticipated annual dividend yield. With over 97% of lease income backed by the US Government, the company shows dividend resiliency and a stable investment opportunity.
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Easterly Government Properties Schedules Fourth Quarter 2023 Earnings Release and Conference Call

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Easterly Government Properties, Inc. (NYSE: DEA) will release its Q4 2023 financial results on February 27, 2024. A conference call will be held to review performance, discuss recent events, and conduct a Q&A session. Research analysts covering the Company can register to join the call and access the live webcast on the Investor Relations website.
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Easterly Government Properties Extends $100 Million Unsecured Term Loan Facility

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Easterly Government Properties, Inc. (NYSE: DEA) has extended a $100 million unsecured term loan with market-leading terms, underscoring the company's strong balance sheet and capital partner relationships. The loan now matures on January 30, 2025, and will bear interest at a rate of SOFR plus a spread of 1.20% to 1.70%, depending on the Company's leverage ratio.
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Easterly Government Properties Announces Tax Characteristics of Its 2023 Distributions

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Easterly Government Properties, Inc. (NYSE: DEA) announced the tax characteristics of the 2023 distributions on its common stock. The tax reporting will be done on Form 1099-DIV and shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment of these distributions. The distributions on Easterly Common Shares for 2023 total $1.0600, with $0.4272 being ordinary taxable dividends and $0.6328 being a return of capital. The company's distributions are as follows: 3/9/2023 - $0.2650 per share, 5/11/2023 - $0.2650 per share, 8/17/2023 - $0.2650 per share, 11/9/2023 - $0.2650 per share.
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Easterly Government Properties Receives Investment Grade Credit Rating

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Easterly Government Properties, Inc. (NYSE: DEA) achieves inaugural BBB rating with stable outlook from Kroll Bond Rating Agency, LLC. The company's strong underlying credit quality of cashflows and secure balance sheet are reflected in the rating. Approximately 99% of annualized lease income comes from AAA rated U.S. Government credit. The company intends to utilize its attractive cost of capital to drive shareholder value and expand its capital base.
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Easterly Government Properties Appoints Co-Founder Darrell Crate as CEO to Advance Mission-Critical Real Estate Strategy

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Easterly Government Properties, Inc. (NYSE: DEA) announced the appointment of Darrell Crate as CEO, effective January 1, 2024. William C. Trimble, III will retire from his position as President and CEO, and William H. Binnie will assume the role of Chairman of the Board. Meghan Baivier has been appointed as President & COO, and Allison Marino as CFO & CAO.
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FAQ

What is the current stock price of Easterly Govt Pptys (DEA)?

The current stock price of Easterly Govt Pptys (DEA) is $10.79 as of February 21, 2025.

What is the market cap of Easterly Govt Pptys (DEA)?

The market cap of Easterly Govt Pptys (DEA) is approximately 1.1B.

What does Easterly Government Properties, Inc. do?

Easterly Government Properties, Inc. specializes in acquiring, developing, and managing Class A commercial properties leased to U.S. government agencies.

How does Easterly generate revenue?

Easterly generates revenue by leasing its properties to U.S. government agencies through agreements secured by the General Services Administration (GSA).

What is Easterly's growth strategy?

Easterly plans to grow by acquiring new properties, developing built-to-suit government facilities, and renewing existing leases at favorable terms.

What is the significance of Easterly's proprietary database?

The database tracks about 8,500 leases totaling 200 million rentable square feet, providing critical information on U.S. government-leased properties that meet Easterly's investment criteria.

Who are Easterly Government Properties' primary tenants?

Easterly's primary tenants are various U.S. government agencies that serve essential functions nationwide.

What recent achievements has Easterly Government Properties made?

Recent achievements include securing new leases and developing custom-built facilities for government agencies.

How financially stable is Easterly Government Properties?

Easterly maintains a robust balance sheet, positioning itself well for future growth and investment opportunities.

What types of properties does Easterly focus on?

Easterly focuses on Class A commercial properties, which are high-quality buildings in prime locations.

How does Easterly ensure tenant satisfaction?

Easterly ensures tenant satisfaction by providing high-quality facilities and maintaining strong relationships with government agencies.

What is the role of the GSA in Easterly's operations?

The GSA secures the leasing agreements between Easterly and U.S. government agencies, ensuring stable revenue streams for the company.
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Easterly Govt Pptys Inc

NYSE:DEA

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DEA Stock Data

1.13B
98.80M
6.48%
77.21%
5.11%
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