Easterly Government: Dividend May Be Too Aggressive [Seeking Alpha]
Easterly Government Properties, Inc. (DEA)
Last easterly government properties, inc. earnings: 2/25 06:30 am
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US:NYSE Investor Relations:
ir.easterlyreit.com
Company Research
Source: Seeking Alpha
The company has seen strong asset growth since its IPO in 2015, quadrupling leased square footage. DEA appears attractively valued with a 10.0x Fwd P/FFO and a 9.3% dividend yield. However, in 2023, DEA paid more in dividends than it generated in cash. If this trend persists, DEA's dividend could be at risk. I came across Easterly Government Properties, Inc. ( NYSE: DEA ) while screening for high-yielding investments. DEA has many positive investment attributes such as stable, long-term tenants from the U.S. government and attractive valuations at just 10.0x Fwd P/FFO. However, my main concern is that in the past few years, costs have been rising faster than revenues at DEA, leading to a shortfall in the REIT's cash available for distribution compared to its dividend rate. This situation makes DEA's dividend vulnerable to a cut. Company Overview Easterly Government Properties is a real estate investment trust ("REIT") focused on acquiring, developing, and managing prope
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DEA
News
- Easterly Government Properties Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Easterly Government Properties Reports First Quarter 2024 ResultsBusiness Wire
- Easterly Government Properties Announces Quarterly DividendBusiness Wire
- Easterly Government Properties Releases Annual Environmental, Social, and Governance (ESG) Report and Announces 4% Decrease in Total Portfolio Energy Consumption [Yahoo! Finance]Yahoo! Finance
- Easterly Government Properties Releases Annual Environmental, Social, and Governance (ESG) Report and Announces 4% Decrease in Total Portfolio Energy ConsumptionBusiness Wire
DEA
Earnings
- 4/30/24 - Beat
DEA
Sec Filings
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- 4/25/24 - Form DEFA14A
- DEA's page on the SEC website