Bank of New York Mellon Corp Sells 165,176 Shares of Easterly Government Properties, Inc. (NYSE:DEA)

Bank of New York Mellon Corp lessened its stake in shares of Easterly Government Properties, Inc. (NYSE:DEA) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 844,024 shares of the real estate investment trust’s stock after selling 165,176 shares during the period. Bank of New York Mellon Corp’s holdings in Easterly Government Properties were worth $9,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Easterly Government Properties by 0.3% during the 4th quarter. Rhumbline Advisers now owns 321,908 shares of the real estate investment trust’s stock worth $3,657,000 after acquiring an additional 1,071 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Easterly Government Properties by 2.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 48,000 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 1,200 shares during the last quarter. Truist Financial Corp increased its stake in shares of Easterly Government Properties by 7.9% in the 4th quarter. Truist Financial Corp now owns 21,435 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 1,574 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Easterly Government Properties by 3.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 48,846 shares of the real estate investment trust’s stock valued at $663,000 after purchasing an additional 1,637 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Easterly Government Properties by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 102,928 shares of the real estate investment trust’s stock valued at $1,168,000 after purchasing an additional 1,658 shares during the last quarter. Institutional investors own 86.51% of the company’s stock.

Easterly Government Properties Stock Up 3.0 %

DEA stock opened at $10.57 on Friday. The stock’s 50 day simple moving average is $11.11 and its 200 day simple moving average is $12.26. Easterly Government Properties, Inc. has a fifty-two week low of $10.18 and a fifty-two week high of $14.53. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.01 and a current ratio of 4.01. The company has a market cap of $1.14 billion, a P/E ratio of 58.69 and a beta of 0.73.

Easterly Government Properties (NYSE:DEA) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.22. The firm had revenue of $78.25 million during the quarter, compared to analyst estimates of $79.49 million. Easterly Government Properties had a return on equity of 1.34% and a net margin of 6.25%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. On average, research analysts expect that Easterly Government Properties, Inc. will post 1.17 earnings per share for the current fiscal year.

Easterly Government Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.06 annualized dividend and a yield of 10.03%. Easterly Government Properties’s payout ratio is 557.89%.

Insider Activity at Easterly Government Properties

In related news, CEO Darrell W. Crate bought 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $10.91 per share, for a total transaction of $109,100.00. Following the completion of the transaction, the chief executive officer now directly owns 171,479 shares in the company, valued at approximately $1,870,835.89. The trade was a 6.19 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DEA shares. Jefferies Financial Group decreased their price target on Easterly Government Properties from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada decreased their price target on Easterly Government Properties from $12.00 to $11.00 and set an “underperform” rating on the stock in a research note on Monday, March 10th. Truist Financial decreased their price target on Easterly Government Properties from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, December 6th. Finally, StockNews.com upgraded Easterly Government Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 4th.

Easterly Government Properties Profile

Easterly Government Properties, Inc (NYSE: DEA) is based in Washington, DC, 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.