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Easterly Government Properties, Inc. - DEA STOCK NEWS

Welcome to our dedicated page for Easterly Government Properties news (Ticker: DEA), a resource for investors and traders seeking the latest updates and insights on Easterly Government Properties 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 Fourth Quarter 2023 Earnings Release and Conference Call

Rhea-AI Summary
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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Easterly Government Properties to Participate in Nareit’s REITworld 2023 Annual Conference

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Easterly Government Properties, Inc. (NYSE: DEA) Announces Participation in Nareit’s REITworld 2023 Annual Conference
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Easterly Government Properties Releases Annual Environmental, Social, and Governance (ESG) Report

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Easterly Government Properties, Inc. (NYSE: DEA) released its annual Environmental, Social, and Governance report, highlighting environmental data, expanded portfolio of ENERGY STAR certified properties, and volunteer and charitable giving campaigns. CEO William C. Trimble, III, emphasized the company's sustainability goals and proactive approach to sustainable building assessments.
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Easterly Government Properties Reports Third Quarter 2023 Results

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Easterly Government Properties, Inc. (NYSE: DEA) announced its Q3 2023 results, reporting a net income of $6.1 million and core FFO of $30.2 million. The company acquired a 69,276 sq ft VA outpatient clinic in Corpus Christi, Texas, bringing the total properties leased to the VA to 9 out of 10. They also exercised a $50 million delayed draw option on their term loan facility, increasing their term loan commitments to $300 million. Additionally, they issued 1.7 million shares of common stock through their ATM Program, raising net proceeds of approximately $33.7 million.
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Easterly Government Properties Announces Quarterly Dividend

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Easterly Government Properties (NYSE: DEA) approves quarterly cash dividend of $0.265 per common share.
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Easterly Government Properties Acquires a 35,005 SF U.S. District Courthouse in Newport News, Virginia

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Easterly Government Properties acquires United States District Courthouse in Newport News, Virginia
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FAQ

What is the current stock price of Easterly Government Properties (DEA)?

The current stock price of Easterly Government Properties (DEA) is $11.17 as of December 20, 2024.

What is the market cap of Easterly Government Properties (DEA)?

The market cap of Easterly Government Properties (DEA) is approximately 1.2B.

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 Government Properties, Inc.

NYSE:DEA

DEA Rankings

#2407 Ranked by Market Cap
#228 Ranked by Dividends

DEA Stock Data

1.16B
98.84M
6.47%
77.47%
4.08%
REIT - Office
Real Estate Investment Trusts
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United States of America
WASHINGTON