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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.
Easterly Government Properties, Inc. (NYSE: DEA) announced its participation in investor meetings at Nareit’s REITworld 2022 Annual Conference in San Francisco, California, on November 16, 2022. The company, a real estate investment trust focused on Class A commercial properties leased to the U.S. Government, will provide electronic copies of written materials related to the meetings on its Investor Relations website. Easterly’s expertise lies in acquiring, developing, and managing properties for mission-critical U.S. Government agencies.
Easterly Government Properties (NYSE: DEA) reported Q3 2022 results with net income of $0.7 million ($0.01 per share) and FFO of $32.4 million ($0.32 per share). The company acquired significant properties including a VA outpatient facility in Columbus, GA, and a U.S. District courthouse in Council Bluffs, IA. As of September 30, 2022, they owned 95 properties across 9.1 million leased square feet, primarily leased to U.S. Government agencies. A cash dividend of $0.265 per share was approved for Q3, payable on November 23, 2022.
Easterly Government Properties, Inc. (NYSE: DEA) announced the sale of 10 government-leased properties, totaling approximately 668,000 square feet for $205.3 million. This transaction aligns with the company's bullseye strategy and is expected to improve its portfolio metrics, particularly increasing the weighted average lease term. The sale includes nine assets already completed on October 27, 2022, while one property, located in Billings, Montana, is set to close in late December 2022. Post-sale, Easterly will manage 85 properties covering 8.4 million square feet.
Easterly Government Properties, Inc. (NYSE: DEA) has announced a quarterly cash dividend of $0.265 per common share, payable on November 23, 2022, to shareholders of record on November 11, 2022. The company, based in Washington, D.C., specializes in the acquisition, development, and management of Class A commercial properties leased to U.S. Government agencies. This dividend declaration reflects the company's commitment to returning value to its shareholders.
Easterly Government Properties, Inc. (NYSE: DEA) will release its third quarter 2022 financial results on November 1, 2022. A conference call is scheduled for the same day at 11:00 AM Eastern time, where management will review performance, discuss recent events, and hold a Q&A session. The call can be accessed via the Investor Relations section of their website. Playback will be available for ten business days after the call. The company specializes in acquiring and managing Class A commercial properties leased to the U.S. Government.
Easterly Government Properties, Inc. (NYSE:DEA) has acquired a 28,900 square foot U.S. District courthouse in Council Bluffs, Iowa, under a 20-year non-cancelable lease with the General Services Administration (GSA) expiring in 2041, featuring two five-year renewal options. This build-to-suit facility, completed in 2021, serves various government functions and enhances Easterly's portfolio, now totaling 95 properties with 9.1 million square feet. Year to date, the company has acquired properties worth approximately $179.1 million.
Easterly Government Properties (NYSE: DEA) announced its participation in the NYSE Real Estate Investor Access Day on August 3. This virtual event will provide select investors with access to company-written materials, which will be available on their Investor Relations website. Based in Washington, D.C., Easterly specializes in acquiring, developing, and managing Class A commercial properties leased to the U.S. Government.
Easterly Government Properties, Inc. (DEA) reported net income of $8.1 million ($0.08/share) for Q2 2022, with FFO of $33.4 million ($0.33/share). The company acquired multiple properties, including a mental health clinic and a Federal Bureau of Investigation office, expanding its portfolio to 93 properties across 9 million leased square feet. The share repurchase program allows for the buyback of 4.5 million shares. The Board declared a $0.265 dividend payable on August 23, 2022. As of June 30, 2022, the company had $1.3 billion in debt and plans to generate $92.5 million from upcoming settlements.
Easterly Government Properties, Inc. (NYSE: DEA) announced a quarterly cash dividend of $0.265 per common share, payable on August 23, 2022, to shareholders of record on August 11, 2022. As a real estate investment trust, DEA focuses on acquiring and managing Class A commercial properties leased to U.S. Government agencies. The dividend reflects the company’s commitment to returning value to its shareholders while supporting the operational needs of the government.
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