Welcome to our dedicated page for Easterly Government Properties news (Ticker: DEA), a resource for investors and traders seeking the latest updates and insights on Easterly Government Properties stock.
Easterly Government Properties, Inc. (DEA) reports developments for a fully integrated REIT that acquires, develops and manages Class A commercial properties leased primarily to the U.S. Government and its adjacent partners. News commonly covers quarterly operating results, Core FFO and cash available for distribution, property acquisitions, development completions, lease renewals and extensions, and portfolio lease-term metrics.
Company updates also include board-approved common dividends, financing activity such as mezzanine construction lending, investor conference participation and presentation materials. Its disclosures frame performance around a single real estate operating segment and a tenant base centered on government-related occupancy.
Easterly Government Properties, Inc. (NYSE: DEA) has declared a quarterly cash dividend of $0.265 per common share, set to be paid on November 24, 2021. Shareholders on record as of November 12, 2021 will be eligible for this dividend, reflecting the company's commitment to returning value to its investors. The company specializes in managing Class A commercial properties leased to U.S. Government agencies, ensuring stable income streams.
Easterly Government Properties, Inc. (NYSE: DEA) has acquired a 489,316 square foot facility leased to the USCIS in Kansas City, Missouri. This acquisition, part of a robust pipeline, aligns with Easterly's strategy of managing Class A properties leased to the U.S. Government. The facility, which serves as the National Benefits Center, has a long-term lease with USCIS until 2042 and could extend to January 2045. Year-to-date, Easterly has invested approximately $286.8 million in nine properties, moving closer to its $300 million target for acquisitions in 2023.
Easterly Government Properties (NYSE: DEA) announced a joint venture aimed at acquiring a 1.2 million square foot portfolio of 10 properties, fully leased to the Department of Veterans Affairs, for approximately $635.6 million. The venture will close on a rolling basis by the end of 2023, with Easterly retaining a 53% stake. The properties are designed to fulfill vital medical services for over 7.2 million veterans and are expected to receive more than $174 million in upgrades. This strategic move enhances Easterly's growth and diversifies its capital structure.
Easterly Government Properties, Inc. (NYSE:DEA) will release its third quarter 2021 financial results on November 2, 2021. A conference call is scheduled for the same day at 11:00am Eastern time to discuss performance and recent events. The call can be accessed via the Investor Relations section of their website. Playback of the call will be available for ten business days after. Easterly focuses on Class A commercial properties leased to the U.S. Government, leveraging expertise in managing mission-critical facilities.
Easterly Asset Management has formed Maritime Logistics Equity Partners (MLEP) to capitalize on the projected $9.5 billion chemical tanker shipping market by 2026. MLEP has acquired two stainless steel chemical tankers, Easterly Beech Galaxy and Easterly Lime Galaxy, from CIDO Shipping. The company aims to acquire more vessels due to rising demand against a backdrop of limited supply in the shipping market, and plans to place its vessels in WOMAR’s Tanker Pools for operational management.
Easterly Government Properties (NYSE: DEA) announced the pricing of an underwritten public offering of 6,300,000 shares of common stock, with an option for underwriters to purchase an additional 945,000 shares. The offering is expected to close on August 16, 2021. RBC Capital Markets and BMO Capital Markets are leading the offering. The company has entered into forward sale agreements totaling 6,300,000 shares, with proceeds to be used for general corporate purposes. The offering is made under an effective shelf registration statement filed with the SEC.
Easterly Government Properties announced a public offering of 6,300,000 shares of its common stock, with underwriters granted an option for an additional 945,000 shares. The offering will involve forward sale agreements with Royal Bank of Canada and Bank of Montreal. The initial proceeds from this sale will not be received until future settlement, which is expected within a year. The proceeds, if any, will be utilized for general corporate purposes, including property acquisition and debt repayment. RBC Capital Markets and BMO Capital Markets are the joint book-running managers for this offering.
Easterly Government Properties, Inc. (NYSE: DEA) announced the appointment of Allison Marino as Senior Vice President and Chief Accounting Officer, effective August 9, 2021. Allison brings over ten years of experience in commercial real estate, previously serving as Vice President and Corporate Controller at Carr Properties. Her expertise in accounting will support Easterly's growth trajectory. The company focuses on acquiring, developing, and managing Class A commercial properties leased to U.S. Government agencies.
Easterly Government Properties reported a net income of $9.3 million, or $0.10 per share, for Q2 2021, with Funds from Operations (FFO) of $31.2 million ($0.33 per share). The company increased its 2021 FFO guidance to $1.30 - $1.32 per share, up from $1.28 - $1.30, based on a higher acquisition target of $300 million. Easterly issued a note purchase agreement for $250 million and completed acquisitions of government-leased properties worth $134 million. The company’s balance sheet showed total indebtedness of approximately $1 billion and maintained a sustainable dividend of $0.265, payable August 24, 2021.
Easterly Government Properties, Inc. (NYSE: DEA) announced an increase in its quarterly cash dividend to $0.265 per common share. This dividend will be payable on August 24, 2021, to shareholders of record on August 12, 2021. The firm specializes in acquiring, developing, and managing Class A commercial properties leased to U.S. Government agencies, leveraging its management team's expertise to meet the real estate needs of these agencies. For more details, visit their website.