Easterly Government Properties (DEA) Stock Rating Upgraded by Zacks Investment Research

Easterly Government Properties (NYSE:DEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $24.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.77% from the stock’s current price.

According to Zacks, “Easterly Government Properties, Inc. is focused primarily on the acquisition, development and management of commercial properties leased to U.S. Government agencies through the U.S. General Services Administration. Easterly Government Properties, Inc. is based in Washington, District of Columbia. “

DEA has been the subject of several other research reports. Jefferies Group reissued a “buy” rating and issued a $24.00 price target on shares of Easterly Government Properties in a report on Tuesday, October 10th. SunTrust Banks set a $24.00 price target on shares of Easterly Government Properties and gave the stock a “buy” rating in a report on Sunday, December 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Easterly Government Properties has an average rating of “Hold” and an average target price of $23.13.

Shares of Easterly Government Properties (NYSE:DEA) traded down $0.30 during midday trading on Wednesday, reaching $20.73. 389,600 shares of the company traded hands, compared to its average volume of 358,367. The stock has a market cap of $922.67, a price-to-earnings ratio of 207.30 and a beta of 0.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.26 and a current ratio of 1.26. Easterly Government Properties has a 12 month low of $19.08 and a 12 month high of $22.32.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its holdings in shares of Easterly Government Properties by 13.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 242,918 shares of the real estate investment trust’s stock valued at $5,090,000 after purchasing an additional 28,452 shares during the period. Rhumbline Advisers grew its holdings in shares of Easterly Government Properties by 15.6% in the second quarter. Rhumbline Advisers now owns 49,506 shares of the real estate investment trust’s stock valued at $1,037,000 after purchasing an additional 6,666 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Easterly Government Properties by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 290,865 shares of the real estate investment trust’s stock valued at $6,093,000 after purchasing an additional 22,366 shares during the period. Legal & General Group Plc grew its holdings in shares of Easterly Government Properties by 7.8% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 619 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Easterly Government Properties by 41.5% in the second quarter. Prudential Financial Inc. now owns 14,468 shares of the real estate investment trust’s stock valued at $303,000 after purchasing an additional 4,246 shares during the period. 87.22% of the stock is owned by institutional investors.

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About Easterly Government Properties

Easterly Government Properties, Inc is an internally managed real estate investment trust (REIT). The Company focuses on the acquisition, development and management of Class A commercial properties that are leased to the United States Government agencies. The Company leases its properties to such agencies through the United States General Services Administration (GSA).

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