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
Price History & Performance
|Historical stock prices|
|Current Share Price||US$21.21|
|52 Week High||US$19.64|
|52 Week Low||US$23.91|
|1 Month Change||-3.68%|
|3 Month Change||-0.094%|
|1 Year Change||-9.05%|
|3 Year Change||7.56%|
|5 Year Change||7.66%|
|Change since IPO||36.84%|
Recent News & Updates
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.
|DEA||US REITs||US Market|
Return vs Industry: DEA underperformed the US REITs industry which returned 28.4% over the past year.
Return vs Market: DEA underperformed the US Market which returned 30.7% over the past year.
Stable Share Price: DEA is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: DEA's weekly volatility (3%) has been stable over the past year.
About the Company
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.
Is Easterly Government Properties undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: DEA ($21.21) is trading below our estimate of fair value ($38.57)
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 (93.3x) compared to the US REITs industry average (47.4x).
PE vs Market: DEA is poor value based on its PE Ratio (93.3x) compared to the US market (17.1x).
Price to Earnings Growth Ratio
PEG Ratio: DEA is poor value based on its PEG Ratio (6.1x)
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 (1.9x).
How is Easterly Government Properties forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
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 (14.8% 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 (9.5% 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%).
How has Easterly Government Properties performed over the past 5 years?
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.
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 ($1.0B).
Debt to Equity History and Analysis
Debt Level: DEA's debt to equity ratio (78.3%) is considered high.
Reducing Debt: DEA's debt to equity ratio has increased from 40.9% to 78.3% over the past 5 years.
Debt Coverage: DEA's debt is not well covered by operating cash flow (12.1%).
Interest Coverage: DEA's interest payments on its debt are not well covered by EBIT (1.8x coverage).
What is Easterly Government Properties's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: DEA's dividend (5%) is higher than the bottom 25% of dividend payers in the US market (1.36%).
High Dividend: DEA's dividend (5%) is in the top 25% of dividend payers in the US market (3.6%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, DEA has been paying a dividend for less than 10 years.
Growing Dividend: DEA's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (71.2%), DEA's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: DEA's dividends in 3 years are forecast to be covered by earnings (78.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Bill Trimble (59 yo)
Mr. William C. Trimble, also known as Bill, III, serves as the Chief Executive Officer, President and Director of Easterly Government Properties, Inc. Mr. Trimble is responsible for leading firm’s real est...
CEO Compensation Analysis
Compensation vs Market: Bill's total compensation ($USD4.21M) is about average for companies of similar size in the US market ($USD3.66M).
Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.
Experienced Management: DEA's management team is seasoned and experienced (5.8 years average tenure).
Experienced Board: DEA's board of directors are considered experienced (6.6 years average tenure).
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.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.5%.
Easterly Government Properties, Inc.'s employee growth, exchange listings and data sources
- Name: Easterly Government Properties, Inc.
- Ticker: DEA
- Exchange: NYSE
- Founded: NaN
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$1.998b
- Market Cap: US$1.779b
- Shares outstanding: 94.21m
- Website: https://www.easterlyreit.com
Number of Employees
- Easterly Government Properties, Inc.
- 2101 L Street NW
- Suite 650
- District Of Columbia
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/16 04:51|
|End of Day Share Price||2021/09/15 00:00|
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.