Formula Growth Ltd. Invests $2.30 Million in Easterly Government Properties, Inc. (NYSE:DEA)

Formula Growth Ltd. bought a new position in Easterly Government Properties, Inc. (NYSE:DEA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 167,000 shares of the real estate investment trust’s stock, valued at approximately $2,295,000. Formula Growth Ltd. owned approximately 0.18% of Easterly Government Properties at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DEA. Raymond James Financial Services Advisors Inc. boosted its stake in Easterly Government Properties by 7.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 63,313 shares of the real estate investment trust’s stock worth $1,338,000 after buying an additional 4,611 shares in the last quarter. US Bancorp DE boosted its stake in Easterly Government Properties by 11.7% in the first quarter. US Bancorp DE now owns 16,447 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 1,721 shares in the last quarter. Cetera Advisor Networks LLC boosted its stake in Easterly Government Properties by 23.6% in the first quarter. Cetera Advisor Networks LLC now owns 19,267 shares of the real estate investment trust’s stock worth $407,000 after buying an additional 3,681 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in Easterly Government Properties in the first quarter worth approximately $368,000. Finally, Natixis Advisors L.P. boosted its stake in Easterly Government Properties by 6.8% in the first quarter. Natixis Advisors L.P. now owns 64,622 shares of the real estate investment trust’s stock worth $1,366,000 after buying an additional 4,101 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Easterly Government Properties Price Performance

Shares of DEA stock opened at $12.90 on Friday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 46.09 and a beta of 0.67. The company has a quick ratio of 5.46, a current ratio of 5.46 and a debt-to-equity ratio of 0.86. The business’s fifty day moving average is $14.16 and its 200 day moving average is $14.11. Easterly Government Properties, Inc. has a twelve month low of $12.27 and a twelve month high of $18.63.

Easterly Government Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Thursday, August 17th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 8.22%. The ex-dividend date of this dividend was Wednesday, August 16th. Easterly Government Properties’s dividend payout ratio (DPR) is presently 378.57%.

Analyst Upgrades and Downgrades

DEA has been the subject of several recent research reports. Truist Financial boosted their price objective on Easterly Government Properties from $15.00 to $16.00 in a research report on Thursday, June 15th. StockNews.com initiated coverage on Easterly Government Properties in a research report on Thursday, August 17th. They issued a “sell” rating for the company. Finally, Royal Bank of Canada downgraded Easterly Government Properties from a “sector perform” rating to an “underperform” rating and lowered their price objective for the company from $15.00 to $13.00 in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.10.

Easterly Government Properties Profile

Easterly Government Properties, Inc (NYSE: DEA) is based in Washington, DC, and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly's experienced management team brings specialized insight into the strategy and needs of mission-critical U.S.