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DEA

Easterly Government PropertiesNYSE:DEA Stock Report

Market Cap

US$2.0b

7D

0.5%

1Y

-7.3%

Updated

26 Sep, 2021

Data

Company Financials +
DEA fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance5/6
Financial Health0/6
Dividends4/6

DEA Overview

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.

Easterly Government Properties Competitors

Cousins Properties

NYSE:CUZ

US$5.6b

Rexford Industrial Realty

NYSE:REXR

US$8.6b

EastGroup Properties

NYSE:EGP

US$6.9b

National Storage Affiliates Trust

NYSE:NSA

US$6.6b

Price History & Performance

Summary of all time highs, changes and price drops for Easterly Government Properties
Historical stock prices
Current Share PriceUS$20.97
52 Week HighUS$19.64
52 Week LowUS$23.65
Beta0.43
1 Month Change-1.09%
3 Month Change-1.18%
1 Year Change-7.34%
3 Year Change8.26%
5 Year Change9.91%
Change since IPO35.29%

Recent News & Updates

Aug 17

Easterly Government Properties: The Safest Dividend Is One That's Just Been Raised

Easterly Government Properties is now trading back in value range after its run-up last year. Its bottom-line is growing steadily, and it has a long runway to consolidate the fragmented market for U.S. Government properties. I highlight why DEA is currently a Buy, as well as the dividend, balance sheet, and other points worth considering.

Shareholder Returns

DEAUS REITsUS Market
7D0.5%-0.9%0.1%
1Y-7.3%34.7%35.3%

Return vs Industry: DEA underperformed the US REITs industry which returned 34.7% over the past year.

Return vs Market: DEA underperformed the US Market which returned 35.3% over the past year.

Price Volatility

Is DEA's price volatile compared to industry and market?
DEA volatility
DEA Beta0.43
Industry Beta0.83
Market Beta1

Stable Share Price: DEA is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: DEA's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a45Bill Trimblehttps://www.easterlyreit.com

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.

Easterly Government Properties Fundamentals Summary

How do Easterly Government Properties's earnings and revenue compare to its market cap?
DEA fundamental statistics
Market CapUS$1.98b
Earnings (TTM)US$21.42m
Revenue (TTM)US$259.95m

92.2x

P/E Ratio

7.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
DEA income statement (TTM)
RevenueUS$259.95m
Cost of RevenueUS$81.20m
Gross ProfitUS$178.75m
ExpensesUS$157.34m
EarningsUS$21.42m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.23
Gross Margin68.76%
Net Profit Margin8.24%
Debt/Equity Ratio78.3%

How did DEA perform over the long term?

See historical performance and comparison

Dividends

5.1%

Current Dividend Yield

71%

Payout Ratio

Valuation

Is Easterly Government Properties undervalued compared to its fair value and its price relative to the market?

45.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DEA ($20.97) is trading below our estimate of fair value ($38.27)

Significantly Below Fair Value: DEA is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: DEA is poor value based on its PE Ratio (92.2x) compared to the US REITs industry average (50.1x).

PE vs Market: DEA is poor value based on its PE Ratio (92.2x) compared to the US market (17.9x).


Price to Earnings Growth Ratio

PEG Ratio: DEA is poor value based on its PEG Ratio (6x)


Price to Book Ratio

PB vs Industry: DEA is good value based on its PB Ratio (1.7x) compared to the US REITs industry average (2x).


Future Growth

How is Easterly Government Properties forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

15.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DEA's forecast earnings growth (15.4% per year) is above the savings rate (2%).

Earnings vs Market: DEA's earnings (15.4% per year) are forecast to grow faster than the US market (15% per year).

High Growth Earnings: DEA's earnings are forecast to grow, but not significantly.

Revenue vs Market: DEA's revenue (9.1% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: DEA's revenue (9.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DEA's Return on Equity is forecast to be low in 3 years time (3.2%).


Past Performance

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

36.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DEA has high quality earnings.

Growing Profit Margin: DEA's current net profit margins (8.2%) are higher than last year (3%).


Past Earnings Growth Analysis

Earnings Trend: DEA's earnings have grown significantly by 36.7% per year over the past 5 years.

Accelerating Growth: DEA's earnings growth over the past year (202.5%) exceeds its 5-year average (36.7% per year).

Earnings vs Industry: DEA earnings growth over the past year (202.5%) exceeded the REITs industry 3.9%.


Return on Equity

High ROE: DEA's Return on Equity (1.8%) is considered low.


Financial Health

How is Easterly Government Properties's financial position?


Financial Position Analysis

Short Term Liabilities: DEA's short term assets ($96.5M) do not cover its short term liabilities ($187.8M).

Long Term Liabilities: DEA's short term assets ($96.5M) do not cover its long term liabilities ($1.0B).


Debt to Equity History and Analysis

Debt Level: DEA's debt to equity ratio (78.3%) is considered high.

Reducing Debt: DEA's debt to equity ratio has increased from 40.9% to 78.3% over the past 5 years.

Debt Coverage: DEA's debt is not well covered by operating cash flow (12.1%).

Interest Coverage: DEA's interest payments on its debt are not well covered by EBIT (1.8x coverage).


Balance Sheet


Dividend

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

5.05%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DEA's dividend (5.05%) is higher than the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: DEA's dividend (5.05%) is in the top 25% of dividend payers in the US market (3.6%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, DEA has been paying a dividend for less than 10 years.

Growing Dividend: DEA's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.2%), DEA's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DEA's dividends in 3 years are forecast to be covered by earnings (78.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Bill Trimble (59 yo)

6.58yrs

Tenure

US$4,214,702

Compensation

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 est...


CEO Compensation Analysis

Compensation vs Market: Bill's total compensation ($USD4.21M) is about average for companies of similar size in the US market ($USD3.68M).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: DEA's management team is seasoned and experienced (5.8 years average tenure).


Board Members

Experienced Board: DEA's board of directors are considered experienced (6.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.5%.


Top Shareholders

Company Information

Easterly Government Properties, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Easterly Government Properties, Inc.
  • Ticker: DEA
  • Exchange: NYSE
  • Founded: NaN
  • Industry: Office REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.975b
  • Market Cap: US$1.759b
  • Shares outstanding: 94.21m
  • Website: https://www.easterlyreit.com

Number of Employees


Location

  • Easterly Government Properties, Inc.
  • 2101 L Street NW
  • Suite 650
  • Washington
  • District Of Columbia
  • 20037
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/26 22:07
End of Day Share Price2021/09/24 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.