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 (NYSE: DEA) has rescheduled its second quarter 2024 earnings conference call to 11:00am Eastern time on Wednesday, July 31, 2024, one hour later than initially planned. The company will still release its Q2 2024 financial results on the same day. The management team will review performance, discuss recent events, and conduct a Q&A session. Attendees can register to join the call and ask questions, while a live audio webcast will be available on Easterly's Investor Relations website. A replay of the call will be accessible on the company's website for up to twelve months after the event.
Easterly Government Properties (NYSE: DEA) will release its second quarter 2024 financial results on July 31, 2024. The company will hold a conference call on the same day at 10:00 am Eastern time. The management will review the quarterly performance, discuss recent events, and answer questions. Interested parties can register to join the call, and a live audio webcast will be available on the company's Investor Relations website. A replay of the call will be accessible for up to twelve months post-event.
Easterly Government Properties (NYSE: DEA) announced a new $400 million revolving credit facility (Revolver) with an accordion feature allowing for additional lender commitments up to $250 million, totaling up to $650 million. The Revolver matures in June 2028 with two six-month extension options to June 2029. Borrowings will bear interest at Adjusted SOFR plus a spread of 1.20% to 1.80%, initially set at 1.35% due to the current leverage ratio. Funds will be used for acquisitions, development, and other corporate purposes. The previous revolving credit facility due to expire in July 2025 will be replaced by this new facility. Citibank, PNC Capital Markets, Truist Securities, and Wells Fargo Securities served as joint lead arrangers and bookrunners, with Citibank as the administrative agent.
Easterly Government Properties (NYSE: DEA) announced its participation in Nareit’s REITweek 2024 Investor Conference in New York, from June 4-5, 2024. The management team, including CEO Darrell Crate, President & COO Meghan Bavier, and CFO Allison Marino, will present on June 4 from 3-3:30 PM ET. The company will also engage in investor meetings during the conference. The presentation will be available via a live audio webcast on Easterly's Investor Relations website, with a replay accessible for 30 days. Easterly specializes in Class A commercial properties leased to the U.S. Government.
Easterly Government Properties (NYSE: DEA) announced a master note purchase agreement to issue $200 million in 9-year senior unsecured notes at a fixed rate of 6.56%. The issuance includes $150 million of Series A Senior Notes to be released on May 29, 2024, and $50 million of Series B Senior Notes to be issued on August 14, 2024, subject to customary closing conditions. The company emphasized its strong credit quality and investment-grade balance sheet, attributing the favorable pricing to investor confidence. These Senior Notes will not be registered under the Securities Act of 1933 and cannot be offered or sold without proper registration or exemption.
Easterly Government Properties (NYSE: DEA) has closed on a 49,420 square foot facility in Orlando, Florida, fully leased to the U.S. Immigration and Customs Enforcement (ICE) for 20 years, with the lease expiring in August 2040.
This acquisition is part of Easterly's strategy to expand its portfolio of mission-critical properties leased to the U.S. Government. The facility will support ICE's operations against narcotics smuggling, human trafficking, child exploitation, gang violence, money laundering, and other criminal activities in Central Florida.
This purchase brings Easterly's portfolio to 93 properties, totaling 9.1 million square feet. CEO Darrell Crate highlighted this acquisition as a step towards delivering stable and attractive returns for shareholders while supporting national security and public safety.
Easterly Government Properties, Inc. (NYSE: DEA) will participate in Wells Fargo's 27th Annual Real Estate Securities Conference, focusing on Class A commercial properties leased to the U.S. Government. The event will take place on May 9, 2024, in Amelia Island, Florida. Investors can access the presentation materials on the Company's Investor Relations website.
Easterly Government Properties, Inc. (NYSE: DEA) is acquiring two government facilities leased to the U.S. Department of Homeland Security in Orlando, Florida, further expanding its real estate portfolio. The acquisitions include the HSI facility with a 15-year lease and the ICE facility with a 20-year lease. The company has also raised its full-year 2024 Core FFO per share guidance to $1.15 - $1.17.
Easterly Government Properties, Inc. (NYSE: DEA) reported net income of $4.9 million for the first quarter of 2024, with Core FFO of $30.8 million. The company received an investment grade credit rating of BBB, extended a term loan, achieved a reduction in margin spreads, and secured a 20-year lease for a Federal courthouse in Flagstaff. The company also engaged in forward sales transactions and approved a cash dividend for shareholders.
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