Darrell W. Crate, the President and CEO of Easterly Government Properties , Inc. (NYSE:DEA), a $1.29 billion market cap real estate company, recently acquired 10,000 shares of the company’s common stock. The purchase comes as InvestingPro data shows the stock trading near its 52-week low, with an attractive 9.49% dividend yield. The shares were purchased on December 23, 2024, at a weighted average price of $10.91 per share, totaling approximately $109,100. Following this transaction, Crate now directly owns 171,479 shares of Easterly Government Properties. The purchase was executed in multiple transactions, with share prices ranging from $10.90 to $10.92. According to InvestingPro analysis, the stock appears undervalued at current levels, with additional ProTips and detailed insights available for subscribers.
In other recent news, Easterly Government Properties reported strong Q3 2024 results, with $139.5 million in property acquisitions and core Funds From Operations (FFO) per share growth to $0.30. The company maintains its 2024 core FFO guidance at $1.15 to $1.17 per share and projects a 2025 guidance range of $1.17 to $1.21 per share. In addition, Easterly Government Properties completed further acquisitions of $139.5 million in 2024 and anticipates $90 million more by the end of 2023.
Truist Securities recently adjusted its outlook on Easterly Government Properties, reducing the price target on the company’s shares to $13.00, down from the previous $14.00, while maintaining a Hold rating. The firm’s analyst made this adjustment after minor changes to their financial model for Easterly Government Properties. Despite the reduction in the price target, the analyst’s new figure indicates a potential total return of 18%, factoring in an 8.92% dividend yield.
The analyst is also monitoring the new Department of Government Efficiency (DOGE) and its potential impact on Easterly Government Properties. The company is also evaluating a $1.5 billion acquisition pipeline with expected cap rates above the cost of capital. Lastly, the company plans to lower the payout ratio below 100% by the end of 2026, a commitment outlined by CFO Allison Marino.
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