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 Nareit's REITworld 2024 Annual Conference. The event will take place in Las Vegas, Nevada on November 19-20, 2024, where management will engage in investor meetings. Presentation materials for these meetings will be accessible through the company's Investor Relations website at ir.easterlyreit.com.

Easterly Government Properties (NYSE: DEA) reported Q3 2024 results with net income of $5.1 million ($0.05 per share) and Core FFO of $32.2 million ($0.30 per share). The company expanded its portfolio through multiple acquisitions, including a VA outpatient clinic in Jacksonville and Northrop Grumman facilities in Dayton and Aurora. The company entered a $52.1M construction loan agreement for a DEA facility in Bedford. As of September 30, 2024, DEA owned 95 operating properties totaling 9.3M square feet, with a weighted average lease term of 10.2 years. The company maintains total indebtedness of $1.5B with a weighted average interest rate of 4.6%.

Easterly Government Properties (NYSE: DEA), a REIT specializing in Class A commercial properties leased to U.S. Government agencies, has declared a quarterly cash dividend of $0.265 per common share. The dividend will be distributed on November 27, 2024, to shareholders recorded as of November 15, 2024.

Easterly Government Properties (NYSE: DEA) has announced its schedule for the release of third quarter 2024 financial results. The company will disclose its financial performance on November 5, 2024, followed by a conference call at 11:00am Eastern time on the same day. During this call, the management team will:

• Review the third quarter performance
• Discuss recent events
• Conduct a question-and-answer session

Interested parties can register to join the call and ask questions. Additionally, a live audio, listen-only webcast will be available on the company's Investor Relations website. A replay of the call will be accessible on the website for up to twelve months after the event.

Easterly Government Properties (NYSE: DEA) has acquired a 104,136 square foot facility in Aurora, Colorado, fully leased to Northrop Grumman Systems (NYSE: NOC). The property, built in 2002, is strategically located adjacent to Buckley Space Force Base. 70% of the three-floor buildout meets secure design standards required by the U.S. Government, with space certified for processing sensitive compartmented information.

This acquisition aligns with Easterly's focus on vital real estate for high-credit companies connected to the government. The facility supports Northrop Grumman's contracts with Buckley SFB, which contributes an estimated $2.5 billion annually to the local economy. With this addition, Easterly now owns 96 properties totaling 9.5 million square feet, either directly or through joint ventures.

Easterly Government Properties (NYSE: DEA) has acquired a 99,246 square foot facility in Beavercreek, Ohio, fully leased to Northrop Grumman Systems (NYSE: NOC). The build-to-suit property, occupied since 2012, features robust security enhancements and is strategically located adjacent to Wright-Patterson Air Force Base. This acquisition aligns with Easterly's focus on mission-critical real estate for government-adjacent companies.

The facility's proximity to the Air Force Research Laboratory's (AFRL) headquarters underscores its strategic importance. AFRL, founded in 1917, is the primary scientific research and development center for the Department of the Air Force, employing over 12,500 people across nine technology areas. With this addition, Easterly's portfolio now includes 95 properties totaling 9.3 million square feet.

Easterly Government Properties (NYSE: DEA) has completed the acquisition of VA - Jacksonville, a 193,100 sq ft outpatient facility in Florida, through its joint venture. This marks the final acquisition in a portfolio of 10 properties leased to the Department of Veterans Affairs under 20-year firm term leases. The VA - Jacksonville facility offers primary and specialty healthcare services, including a domiciliary for veterans requiring additional care.

The completed VA Portfolio comprises 1,214,165 leased square feet across 10 properties in various states, with an average lease term of 19.6 years. This acquisition aligns with Easterly's focus on Class A commercial properties leased to the U.S. Government and supports its external growth strategy. With this addition, Easterly now owns 94 properties totaling 9.2 million square feet, either directly or through its joint venture.

Easterly Government Properties (NYSE: DEA), a REIT focused on Class A commercial properties leased to the U.S. Government, announced its participation in the NYSE Real Estate Investor Access Day on August 8th. The company's management team, including CEO Darrell Crate, will engage in virtual investor meetings to discuss Easterly's expansive actionable pipeline of mission-critical assets leased to important U.S. Government tenants and adjacent partners.

The team will provide written materials for certain investors at the event, which will also be available electronically in the Presentation section of Easterly's Investor Relations website. This participation highlights Easterly's commitment to investor engagement and transparency in showcasing its strategic focus on government-leased properties.

Easterly Government Properties (NYSE: DEA) reported its Q2 2024 results:

Key highlights include:

• Net income of $4.9 million ($0.04 per share)
• Core FFO of $31.4 million ($0.29 per share)
• An $8.4 million mortgage note extinguishment
• A new $400 million senior unsecured revolving credit facility with a total capacity up to $700 million
• Acquisition of properties leased to U.S. government agencies, including a Federal courthouse in Flagstaff, AZ, and facilities in Dallas and Orlando

For the first six months of 2024:

• Net income of $9.7 million ($0.09 per share)
• Core FFO of $62.1 million ($0.58 per share)
• Debt of approximately $1.4 billion with a weighted average interest rate of 4.4%

The company increased its full-year 2024 Core FFO guidance to $1.15 - $1.17 per share. A cash dividend of $0.265 per share will be paid on August 13, 2024.