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Easterly Government Properties

NYSE:DEA
Snowflake Description

Reasonable growth potential average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DEA
NYSE
$1B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. The last earnings update was 18 days ago. More info.


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DEA Share Price and Events
7 Day Returns
-0.6%
NYSE:DEA
-0.3%
US REITs
-2.1%
US Market
1 Year Returns
-6.5%
NYSE:DEA
13.8%
US REITs
1.3%
US Market
DEA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Easterly Government Properties (DEA) -0.6% 5% 3.7% -6.5% -0.9% -
US REITs -0.3% 2.4% 3.2% 13.8% 11.3% 25.6%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • DEA underperformed the REITs industry which returned 13.8% over the past year.
  • DEA underperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
DEA
Industry
5yr Volatility vs Market

DEA Value

 Is Easterly Government Properties undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Easterly Government Properties to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Easterly Government Properties.

NYSE:DEA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:DEA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (57.46%))
0.846
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.846 * 5.96%)
7.77%

Discounted Cash Flow Calculation for NYSE:DEA using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Easterly Government Properties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Easterly Government Properties is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:DEA DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.77%)
2019 78.89 Analyst x3 73.20
2020 93.77 Analyst x2 80.74
2021 99.90 Analyst x1 79.81
2022 108.80 Est @ 8.91% 80.66
2023 116.48 Est @ 7.06% 80.12
2024 123.18 Est @ 5.76% 78.63
2025 129.16 Est @ 4.85% 76.50
2026 134.60 Est @ 4.21% 73.97
2027 139.67 Est @ 3.77% 71.23
2028 144.50 Est @ 3.46% 68.38
Present value of next 10 years cash flows $763.23
NYSE:DEA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $144.50 × (1 + 2.73%) ÷ (7.77% – 2.73%)
$2,945.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,945.49 ÷ (1 + 7.77%)10
$1,393.76
NYSE:DEA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $763.23 + $1,393.76
$2,156.99
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,156.99 / 76.73
$28.25
NYSE:DEA Discount to Share Price
Calculation Result
Value per share (USD) From above. $28.25
Current discount Discount to share price of $18.66
= -1 x ($18.66 - $28.25) / $28.25
33.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Easterly Government Properties is available for.
Intrinsic value
34%
Share price is $18.66 vs Future cash flow value of $28.25
Current Discount Checks
For Easterly Government Properties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Easterly Government Properties's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Easterly Government Properties's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Easterly Government Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Easterly Government Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:DEA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.05
NYSE:DEA Share Price ** NYSE (2019-05-24) in USD $18.66
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.62x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Easterly Government Properties.

NYSE:DEA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:DEA Share Price ÷ EPS (both in USD)

= 18.66 ÷ 0.05

370.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Easterly Government Properties is overvalued based on earnings compared to the US REITs industry average.
  • Easterly Government Properties is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Easterly Government Properties's expected growth come at a high price?
Raw Data
NYSE:DEA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 370.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
46.4%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.39x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

NYSE:DEA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 370.79x ÷ 46.4%

7.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Easterly Government Properties is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Easterly Government Properties's assets?
Raw Data
NYSE:DEA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $14.51
NYSE:DEA Share Price * NYSE (2019-05-24) in USD $18.66
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NYSE:DEA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:DEA Share Price ÷ Book Value per Share (both in USD)

= 18.66 ÷ 14.51

1.29x

* Primary Listing of Easterly Government Properties.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Easterly Government Properties is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Easterly Government Properties's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Easterly Government Properties has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

DEA Future Performance

 How is Easterly Government Properties expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
46.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Easterly Government Properties expected to grow at an attractive rate?
  • Easterly Government Properties's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Easterly Government Properties's earnings growth is expected to exceed the United States of America market average.
  • Easterly Government Properties's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:DEA Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:DEA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 46.4%
NYSE:DEA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 12.5%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:DEA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:DEA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 337 31 1
2022-12-31 306 24 1
2021-12-31 265 17 2
2020-12-31 242 11 3
2019-12-31 211 1 3
NYSE:DEA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 175 65 3
2018-12-31 161 63 5
2018-09-30 149 56 6
2018-06-30 143 53 5
2018-03-31 137 51 4
2017-12-31 131 49 4
2017-09-30 123 54 5
2017-06-30 116 51 5
2017-03-31 111 48 4
2016-12-31 105 47 4
2016-09-30 98 47 2
2016-06-30 91 44 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Easterly Government Properties's earnings are expected to grow significantly at over 20% yearly.
  • Easterly Government Properties's revenue is expected to grow by 12.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:DEA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Easterly Government Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:DEA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.12 0.12 0.12 1.00
2020-12-31 0.11 0.11 0.11 1.00
2019-12-31 0.01 0.03 -0.02 2.00
NYSE:DEA Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.05
2018-12-31 0.09
2018-09-30 0.11
2018-06-30 0.10
2018-03-31 0.10
2017-12-31 0.11
2017-09-30 0.13
2017-06-30 0.13
2017-03-31 0.13
2016-12-31 0.13
2016-09-30 0.08
2016-06-30 0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Easterly Government Properties will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Easterly Government Properties's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Easterly Government Properties has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

DEA Past Performance

  How has Easterly Government Properties performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Easterly Government Properties's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Easterly Government Properties has delivered over 20% year on year earnings growth in the past 5 years.
  • Easterly Government Properties's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Easterly Government Properties's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Easterly Government Properties's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Easterly Government Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:DEA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 175.22 2.90 15.68
2018-12-31 160.59 4.58 14.82
2018-09-30 148.71 5.53 14.09
2018-06-30 143.13 4.57 13.40
2018-03-31 136.76 4.37 12.92
2017-12-31 130.67 4.34 12.90
2017-09-30 123.10 4.75 12.64
2017-06-30 116.22 4.70 12.79
2017-03-31 110.53 4.42 12.70
2016-12-31 104.62 3.86 12.29
2016-09-30 98.04 2.27 11.86
2016-06-30 90.92 1.88 11.09
2016-03-31 85.26 1.78 10.28
2015-12-31 71.38 -1.35 8.89
2015-09-30 50.93 5.22 10.82
2015-06-30 32.93 1.44 11.99
2015-03-31 15.30 -7.01 10.41
2014-12-31 6.32 2.40 9.94
2014-09-30 5.79 -5.91 6.79
2014-06-30 5.00 -3.80 4.70
2014-03-31 4.25 3.14 5.40
2013-12-31 4.01 -4.31 5.58
2012-12-31 1.99 -2.64 3.18

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Easterly Government Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Easterly Government Properties used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Easterly Government Properties has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Easterly Government Properties's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Easterly Government Properties has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

DEA Health

 How is Easterly Government Properties's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Easterly Government Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Easterly Government Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Easterly Government Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Easterly Government Properties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Easterly Government Properties Company Filings, last reported 1 month ago.

NYSE:DEA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,129.75 818.81 11.81
2018-12-31 1,025.25 768.15 11.42
2018-09-30 1,041.30 665.55 13.88
2018-06-30 1,056.03 484.16 154.06
2018-03-31 794.69 574.18 15.48
2017-12-31 791.09 575.89 16.71
2017-09-30 769.13 536.09 9.64
2017-06-30 679.41 545.56 9.30
2017-03-31 688.00 337.32 9.13
2016-12-31 698.30 292.97 8.63
2016-09-30 676.93 288.22 4.36
2016-06-30 685.32 280.46 3.70
2016-03-31 612.95 267.44 4.38
2015-12-31 619.89 238.20 8.18
2015-09-30 627.59 118.92 4.47
2015-06-30 634.46 102.79 3.41
2015-03-31 637.41 100.90 11.92
2014-12-31 297.18 0.00 31.44
2014-09-30 614.58 104.79 13.66
2014-06-30 249.89 0.00 1.12
2014-03-31 176.68 0.00 3.36
2013-12-31 176.68 0.00 3.36
2012-12-31 103.43 0.00 0.72
  • Easterly Government Properties's level of debt (72.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 72.5% today).
  • Debt is not well covered by operating cash flow (7.9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Easterly Government Properties's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Easterly Government Properties has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

DEA Dividends

 What is Easterly Government Properties's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.57%
Current annual income from Easterly Government Properties dividends. Estimated to be 5.8% next year.
If you bought $2,000 of Easterly Government Properties shares you are expected to receive $111 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Easterly Government Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Easterly Government Properties's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
Upcoming dividend payment

Purchase Easterly Government Properties before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:DEA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:DEA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.18 2.00
2022-12-31 1.11 2.00
2021-12-31 1.10 3.00
2020-12-31 1.07 4.00
2019-12-31 1.04 5.00
NYSE:DEA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-03 1.040 5.658
2019-02-22 1.040 5.812
2018-10-30 1.040 5.980
2018-08-02 1.040 5.400
2018-05-04 1.040 5.239
2018-02-22 1.040 5.187
2017-11-03 1.040 5.018
2017-08-03 1.000 4.957
2017-05-04 1.000 4.919
2017-02-24 0.960 4.771
2016-11-04 0.960 4.888
2016-08-04 0.920 4.792
2016-05-05 0.920 4.792
2016-02-29 0.880 4.847
2015-11-04 0.880 5.098
2015-08-05 0.840 5.164
2015-05-07 0.440 2.790

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Easterly Government Properties has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Easterly Government Properties only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Easterly Government Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (117.2x coverage).
X
Income/ dividend checks
We assess Easterly Government Properties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Easterly Government Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Easterly Government Properties has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

DEA Management

 What is the CEO of Easterly Government Properties's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
William Trimble
COMPENSATION $2,477,867
AGE 56
TENURE AS CEO 4.3 years
CEO Bio

Mr. William C. Trimble, also known as Bill, III, serves as the Chief Executive Officer, President and Director of Easterly Government Properties, Inc. Mr. Trimble is responsible for leading firm’s real estate practice. He serves as the Chief Executive Officer and Managing Partner at Easterly, LLC. He served as the Chief Operating Officer at PRP, LLC where he was responsible for the oversight of all administrative functions, supervising and coordinating fundraising activities for firm's proprietary funds, administering all capital sourcing, marketing and investor relations activities, enhancing investor communication and reporting and managing existing relationships with the firm's institutional investor base. Prior to joining the firm, he spent 10 years as Head of Client Relations at Red Comb, LLC. As a member of the management team, he was the primary contact with Red Comb's clients, which included Fortune 100 corporations, endowments and foundations. Prior to this, Mr. Trimble spent five years as Head of Marketing at Winston Capital Management LLC. Mr. Trimble serves as the Director at Bessemer Group, Incorporated. He is employee at Nevis Capital Management, Inc. He began his career in 1987 at Alex Brown & Sons Inc., where he worked in the institutional equity department and at the asset management division. Mr. Trimble serves as the Chairman of Board of Aircraft Owners and Pilots Association. He first joined the AOPA Board of Trustees in 1993 and has served as Chairman since 2005. Mr. Trimble has been flying since 1983 and earned his Private Pilot Certificate in 1985. He went on to earn Glider, Single engine sea, Multi-engine Land, Instrument and Commercial (certificates and ratings). He earned an M.B.A. and B.A. from Duke University.

CEO Compensation
  • William's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • William's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Easterly Government Properties management team in years:

3.3
Average Tenure
51.5
Average Age
  • The tenure for the Easterly Government Properties management team is about average.
Management Team

William Trimble

TITLE
President
COMPENSATION
$2M
AGE
56
TENURE
4.3 yrs

Michael Ibe

TITLE
Vice Chairman of the Board and Executive VP of Development & Acquisitions
COMPENSATION
$2M
AGE
71
TENURE
4.3 yrs

Meghan Baivier

TITLE
Executive VP
COMPENSATION
$1M
AGE
38
TENURE
3.2 yrs

Alison Bernard

TITLE
Chief Accounting Officer & Executive VP
COMPENSATION
$689K
AGE
32
TENURE
3.2 yrs

Lindsay Winterhalter

TITLE
Vice President
TENURE
3.3 yrs

Franklin Logan

TITLE
Senior VP
TENURE
1.2 yrs

Andrew Pulliam

TITLE
Executive Vice President of Acquisitions & Portfolio Management
AGE
47

Ron Kendall

TITLE
Executive Vice President of Government Relations
AGE
63
TENURE
3.7 yrs

Mark Bauer

TITLE
Senior Vice President of Development & Acquisitions

Nick Nimerala

TITLE
VP & Head of Asset Management
TENURE
1.6 yrs
Board of Directors Tenure

Average tenure and age of the Easterly Government Properties board of directors in years:

4.3
Average Tenure
57
Average Age
  • The tenure for the Easterly Government Properties board of directors is about average.
Board of Directors

Darrell Crate

TITLE
Chairman of the Board
COMPENSATION
$2M
AGE
51
TENURE
4.3 yrs

William Trimble

TITLE
President
COMPENSATION
$2M
AGE
56
TENURE
4.3 yrs

Michael Ibe

TITLE
Vice Chairman of the Board and Executive VP of Development & Acquisitions
COMPENSATION
$2M
AGE
71
TENURE
4.3 yrs

Bill Binnie

TITLE
Lead Independent Director
COMPENSATION
$175K
AGE
60
TENURE
3 yrs

Jim Mead

TITLE
Director
COMPENSATION
$175K
AGE
58
TENURE
4.3 yrs

Cynthia Fisher

TITLE
Director
COMPENSATION
$175K
AGE
57
TENURE
4.3 yrs

Emil Henry

TITLE
Director
COMPENSATION
$175K
AGE
57
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Easterly Government Properties's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Easterly Government Properties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

DEA News

Simply Wall St News

Why I Like Easterly Government Properties, Inc. (NYSE:DEA)

Help shape the future of investing tools and you could win a $250 gift card! … As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.

Simply Wall St -

Introducing Easterly Government Properties (NYSE:DEA), The Stock That Dropped 13% In The Last Year

(NYSE:DEA) share price is down 13% in the last year. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … The share price fall of 13% isn't as bad as the reduction in earnings per share.

Simply Wall St -

Should We Be Cautious About Easterly Government Properties, Inc.'s (NYSE:DEA) ROE Of 0.6%?

To keep the lesson grounded in practicality, we'll use ROE to better understand Easterly Government Properties, Inc. … Our data shows Easterly Government Properties has a return on equity of 0.6% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Easterly Government Properties, Inc. (NYSE:DEA): What's The Analyst Consensus Outlook?

Easterly Government Properties, Inc.'s (NYSE:DEA) released its most recent earnings update in December 2018, whicha

Simply Wall St -

Easterly Government Properties, Inc. (NYSE:DEA): What Does Its Beta Value Mean For Your Portfolio?

(NYSE:DEA), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Why Easterly Government Properties, Inc. (NYSE:DEA) Could Be Worth Watching

Easterly Government Properties, Inc. … As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s examine Easterly Government Properties’s valuation and outlook in more detail to determine if there’s still a bargain opportunity.

Simply Wall St -

Why We Think Easterly Government Properties, Inc. (NYSE:DEA) Could Be Worth Looking At

Help shape the future of investing tools and you could win a $250 gift card! … Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Easterly Government Properties, Inc.

Simply Wall St -

You May Have Been Looking At Easterly Government Properties, Inc. (NYSE:DEA) All Wrong

Easterly Government Properties, Inc. … real estate investment trust (REIT) based in Washington, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company.

Simply Wall St -

Our Take On Easterly Government Properties Inc's (NYSE:DEA) CEO Salary

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does William Trimble's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Easterly Government Properties Inc has a market cap of US$1.2b, and is paying total annual CEO compensation of US$1.3m.

Simply Wall St -

Does The Data Make Easterly Government Properties Inc (NYSE:DEA) An Attractive Investment?

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Easterly Government Properties Inc (NYSE:DEA) due to its excellent fundamentals in more than one area.

Simply Wall St -

DEA Company Info

Description

Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased to such agencies either directly or through the U.S. General Services Administration (GSA).

Details
Name: Easterly Government Properties, Inc.
DEA
Exchange: NYSE
Founded:
$1,424,909,229
$1,267,845,918
76,731,784
Website: http://www.easterlyreit.com
Address: Easterly Government Properties, Inc.
2101 L Street NW,
Suite 650,
Washington,
District Of Columbia, 20037,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE DEA Common Stock New York Stock Exchange US USD 06. Feb 2015
DB E05 Common Stock Deutsche Boerse AG DE EUR 06. Feb 2015
Number of employees
Current staff
Staff numbers
32
Easterly Government Properties employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 00:44
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/22
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.