Easterly Govt Pptys Inc Stock Price, News & Analysis

Easterly Government Properties (NYSE: DEA) has acquired a 74,549 square foot facility near Burlington, Vermont, primarily leased to the U.S. Department of Homeland Security (DHS). The facility is 100% leased through a 10-year non-cancelable GSA lease extending until May 2031. The Level IV secure facility supports operations from U.S. Customs and Border Protection, Immigration and Customs Enforcement, and ICE's Law Enforcement Support Center.

The facility operates 24/7 across three shifts, serving as a national point of contact for law enforcement agencies. It provides critical services including criminal threat identification, investigative referrals, arrest warrant validation, and processing of Immigration Alien Queries. This acquisition brings Easterly's portfolio to 102 properties totaling 10.2 million square feet.

Easterly Government Properties (NYSE: DEA), a REIT specializing in Class A commercial properties leased to the U.S. Government, announced its participation in Wells Fargo's 28th Annual Real Estate Securities Conference. The event will take place on May 7, 2025 in Charleston, South Carolina. The company's management will engage in investor meetings during the conference. Presentation materials for these meetings will be available in the Presentation section of Easterly's Investor Relations website at ir.easterlyreit.com.

Easterly Government Properties (NYSE: DEA) reported its Q1 2025 results, highlighting key financial and operational achievements. The company posted a net income of $3.3 million ($0.07 per share) and Core FFO of $33.1 million ($0.73 per share).

Notable developments include:

• Secured $125 million in senior unsecured notes
• Awarded new Federal Courthouse project with 20-year lease
• Completed a 1-for-2.5 reverse stock split
• Reduced quarterly dividend by 32% to $0.45 per share
• Portfolio includes 100 operating properties with 9.7 million leased square feet

The company raised its 2025 guidance with Core FFO expected between $2.98-$3.03 per share. The portfolio maintains a 9.8-year weighted average remaining lease term, with properties primarily leased to U.S. Government agencies. Total indebtedness stands at $1.6 billion with a weighted average interest rate of 4.6%.

Easterly Government Properties has secured a significant 20-year non-cancelable lease for a new Federal Courthouse in Medford, Oregon. The 40,035 square foot facility will be a state-of-the-art, two-story courthouse designed to meet LEED Silver certification standards.

The courthouse will house:

• District and Federal Magistrate courtrooms
• U.S. Senators' offices
• U.S. Marshal Service
• Probation Office
• U.S. Attorneys Office

Construction is scheduled to begin in first half 2026, with completion expected in second half 2027. The General Services Administration will manage the lease for the United States Judiciary. This development aligns with Easterly's strategy, with CEO Darrell Crate noting that 95% of their portfolio is in firm-term leases, demonstrating their focus on government efficiency through leasing Class A, mission-critical real estate.

Easterly Government Properties has acquired a 289,873 square foot LEED Silver and Energy Star rated facility in Northeast Washington, DC. The property is 98% leased, with the District of Columbia Government (AA+ rated) as the primary tenant occupying 84% of the space through 2038.

The facility, developed in 2006, houses key District services including DC Public Schools headquarters and the Department of Energy & Environment. The tenant mix includes:

• DC Government: 237,118 SF (84%) with 12.9 years remaining lease
• U.S. Federal Government: 26,327 SF (9%) with 4.7 years remaining
• Private Tenants: 20,299 SF (7%) with 5.1 years remaining

This acquisition brings Easterly's portfolio to 101 properties totaling 10.1 million square feet. The deal aligns with their strategy to expand holdings with high-credit state and local government agencies, particularly as education resources shift from federal to state level.

Easterly Government Properties (NYSE: DEA) has completed its previously announced 1-for-2.5 reverse stock split, effective April 28, 2025. The company's outstanding common shares were reduced from approximately 112.3 million to 44.9 million shares. The stock will continue trading on NYSE under the symbol 'DEA' but with a new CUSIP number (27616P 301).

The quarterly dividend has been adjusted proportionally from $0.18 to $0.45 per share for stockholders of record as of May 5, 2025. Additionally, a corresponding 1-for-2.5 reverse split was implemented for Easterly Government Properties LP's partnership units, reducing them from 4.9 million to 2.0 million units. Fractional shares will be paid in cash based on the trailing average closing price over three trading days prior to the split.

Easterly Government Properties (NYSE: DEA) has scheduled its first quarter 2025 financial results release and conference call for April 29, 2025. The earnings call will take place at 11:00am Eastern time, featuring a management review of Q1 performance and a Q&A session.

Interested participants can register to receive dial-in information and a unique PIN for the call. Additionally, a live audio webcast will be available on the company's Investor Relations website, with a replay accessible for up to twelve months after the event.

Easterly Government Properties (NYSE: DEA) has announced significant changes to enhance its long-term growth strategy. The company is reducing its quarterly dividend by $0.085 (32.0%) from the previous $0.265 per share, aligning with net lease REIT best practices. The new dividend structure targets a Core FFO payout ratio of 55-65% and a CAD payout ratio of 65-75%.

Additionally, DEA's Board approved a 1-for-2.5 reverse stock split effective April 28, 2025. Following the split, the new quarterly dividend of $0.18 will adjust to $0.45 ($1.80 annually). The next dividend payment is scheduled for May 17, 2025, for shareholders of record on May 5, 2025.

The company reaffirmed its 2025 earnings guidance, with an update expected around April 29, 2025, following Q1 2025 earnings.

Easterly Government Properties (NYSE: DEA) has announced a significant debt financing arrangement through a master notes purchase agreement. The company will issue $125 million in senior unsecured notes through its operating partnership on March 20, 2025.

The notes will be issued in two series:

• $25 million Series A Senior Notes at 6.13% interest, maturing March 20, 2030
• $100 million Series B Senior Notes at 6.33% interest, maturing March 20, 2032

The company, which focuses on Class A commercial properties leased to U.S. Government agencies, views this issuance as a demonstration of its market resilience and ability to attract investors during volatile market conditions.