Easterly government properties director Cynthia Fisher buys $7,871 in stock

Cynthia A. Fisher, a director at Easterly Government Properties , Inc. (NYSE:DEA), recently acquired shares in the company valued at approximately $7,871. The transactions, disclosed in a recent SEC filing, indicate that Fisher purchased a total of 628.698 shares of common stock at a price of $12.52 per share on November 27, 2024.

The acquisitions were made through a broker-administered dividend reinvestment program, adding to Fisher's existing holdings in the real estate investment trust, which currently offers an attractive 11.52% dividend yield. Following these transactions, Fisher's indirect ownership includes 20,942.79 shares through a pension plan and 9,392.68 shares through a profit-sharing trust. Additionally, Fisher holds 104,092.78 shares directly.

These transactions reflect Fisher's continued investment in Easterly Government Properties, which focuses on the acquisition, development, and management of Class A commercial properties leased to U.S. Government agencies. The stock has faced significant pressure, down 27% over the past six months. InvestingPro subscribers can access 10 additional investment tips and a comprehensive analysis of DEA's financial health and growth prospects.

In other recent news, Easterly Government Properties reported its fourth-quarter 2024 earnings, revealing a net income per share of $0.05, which fell short of the forecasted $0.06. The company's revenue also missed expectations, coming in at $74.14 million compared to the anticipated $77.44 million. Despite these earnings misses, Easterly Government Properties continues to focus on growth, having closed 10 new assets in 2024 and targeting further acquisitions in 2025. The company plans to invest $100 million in acquisitions and $25-$75 million in growth and development initiatives next year.

Jefferies recently initiated coverage on Easterly Government Properties with a Buy rating, setting a price target of $13.00. The firm expressed confidence in the company's strategy and growth potential, noting that the market may not fully appreciate Easterly's growth profile. Jefferies also highlighted Easterly's focus on mission-critical government properties, which distinguishes it from typical government office real estate.

Easterly Government Properties aims for core FFO growth of 2-3% in 2025, with projections for core FFO per share between $1.18 and $1.21. The company maintains a high occupancy rate, with 95% of its portfolio under firm-term leases, and emphasizes its commitment to partnering with the U.S. Government. Despite potential challenges such as rising interest rates and government spending reductions, Easterly is optimistic about its strategic direction and future growth opportunities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.