Easterly Govt Pptys Inc Stock Price, News & Analysis

Easterly Government Properties (NYSE: DEA), a REIT specializing in Class A commercial properties leased to the U.S. Government, has announced its participation in the Citi 2025 Global Property CEO Conference. The presentation is scheduled for Monday, March 3, 2025, at 8:10 AM Eastern Time in Hollywood, Florida.

Investors can access a live audio-webcast of the presentation in listen-only mode through the Presentation section of Easterly's Investor Relations website at ir.easterlyreit.com. The webcast replay will remain available until September 30, 2025. Additionally, electronic copies of materials intended for investors will be accessible on the company's Investor Relations website before the conference begins.

Easterly Government Properties (NYSE: DEA) reported its Q4 and full-year 2024 results, highlighting a net income of $5.7 million ($0.05 per share) for Q4 and $20.6 million ($0.19 per share) for the full year. Core FFO reached $32.6 million ($0.29 per share) for Q4 and $126.9 million ($1.17 per share) for the full year.

During Q4, DEA acquired three properties: a 104,136 sq ft facility leased to Northrop Grumman in Aurora, Colorado; a 100,000 sq ft Level 4 secure facility occupied by the IRS in Ogden, Utah; and a 295,253 sq ft campus primarily leased to Wake County Public School System in Cary, North Carolina.

For the full year, DEA completed 10 property acquisitions for approximately $230 million, expanded its investment strategy to include mission-critical facilities leased to private sector government contractors, and maintained a quarterly cash dividend of $0.265 per share. The company also executed a new $400 million revolving credit facility with an accordion feature allowing for up to $300 million in additional commitments.

Looking ahead, DEA raised the lower end of its 2025 Core FFO guidance to $1.18-$1.21 per share, assuming $100 million in wholly owned acquisitions and $25-$75 million in development-related investments.

Easterly Government Properties (NYSE: DEA), a real estate investment trust specializing in Class A commercial properties leased to U.S. Government agencies, has announced a quarterly cash dividend.

The Board of Directors approved a dividend of $0.265 per common share, payable on March 17, 2025 to shareholders of record as of March 5, 2025.

Easterly Government Properties (NYSE: DEA), a REIT focused on U.S. Government-leased properties, has presented recommendations to the Department of Government Efficiency (DOGE) for reforming the General Services Administration (GSA). CEO Darrell Crate outlined four key proposals: reforming The Automated Prospectus Systems (TAPS) to better reflect real estate costs, increasing flexibility in budget scoring rules, streamlining the prospectus lease process, and modifying lease structures to include annual escalations.

The company emphasizes these changes could address the estimated $80 billion in deferred maintenance for Government-owned assets and improve cost-effectiveness. Easterly currently owns 9.3 million square feet of government-leased real estate with a 10.2-year weighted average remaining lease term. Their portfolio consists of approximately 95% firm term leases supporting mission-critical agencies including ICE, CBP, DOD, DEA, FBI, and VA.

Easterly Government Properties (NYSE: DEA) has announced its upcoming fourth quarter 2024 financial results release and conference call, scheduled for February 25, 2025. The company will host a conference call at 11:00am Eastern time on the same day, where management will present Q4 performance and conduct a Q&A session. Interested participants who wish to ask questions during the call must register to receive dial-in details and a unique PIN. Additionally, a live audio-only webcast will be available on Easterly's Investor Relations website, with a replay accessible for up to twelve months after the call.

Easterly Government Properties (NYSE: DEA) has disclosed the tax characteristics of its 2024 distributions for common stockholders. The company, which focuses on Class A commercial properties leased to the U.S. Government, announced quarterly dividends of $0.2650 per share, totaling $1.0600 for the year.

The distributions are characterized as follows: 49.29% ($0.5224) as ordinary taxable dividends, 50.57% ($0.5360) as return of capital, and 0.14% ($0.0016) as capital gains. The Section 199A dividend amount is $0.5224, equal to the ordinary taxable dividend portion.

Easterly Government Properties (NYSE: DEA) has announced significant amendments to its $100 million senior unsecured term loan agreement from 2016. The company has extended the maturity date from January 30, 2025, to January 28, 2028, with two optional one-year extensions potentially pushing it to January 28, 2030. The borrowing capacity on the accordion feature has been increased from $150 million to $250 million.

The company has entered into an interest rate swap to fix SOFR at 3.8569% annually. Borrowings will bear interest at SOFR plus a 0.10% credit spread adjustment and an additional spread of 1.20% to 1.70% based on the company's leverage ratio. The initial spread is set at 1.35%. The arrangement was facilitated by PNC Capital Markets , U.S. Bank National Association, and Truist Securities, Inc. as joint lead arrangers and bookrunners, with PNC Bank serving as the administrative agent.

Easterly Government Properties (NYSE: DEA), a REIT specializing in Class A commercial properties leased to the U.S. Government, has announced its participation in the Jefferies Real Estate Conference 2024. The event will take place in Miami, Florida on December 11, 2024, where management will engage in investor meetings. Interested parties can access the presentation materials for these meetings through the Presentation section of Easterly's Investor Relations website at ir.easterlyreit.com.

Easterly Government Properties (NYSE: DEA) has acquired a 295,253 square foot campus in Cary, North Carolina, leased primarily to the Wake County Public School System (WCPSS). The campus, consisting of three facilities, is 97% leased with leases extending until 2034. The properties serve as operational headquarters and public service centers, important to WCPSS's mission. The acquisition highlights Easterly's strategy to enhance earnings growth through accretive capital deployment, increasing cash flows from AAA-rated tenants. The three buildings include:

• Wake County I: 75,401 sq ft, 100% leased to WCPSS.
• Wake County II: 98,340 sq ft, 100% leased to WCPSS.
• Wake County III: 121,512 sq ft, 63% leased to WCPSS, 31% leased to Jacobs Engineering, and 6% available for leasing.

With this acquisition, Easterly's portfolio now totals 100 properties with 9.8 million leased square feet.