The last time I covered Easterly Government Properties ( DEA ), I reiterated this REIT's Buy rating, highlighting their strong fundamentals, relatively unique exposure to very long-term leases with the US Government, and the attractive, sustainable yield they gotI've been researching companies in-depth for over a decade, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After ...

Earnings per Share (EPS) of $0.103, slightly below the estimated $0.105.Revenue reported at $87.04 million, missing the estimated $88.85 million.Financial Ratios indicate a high price-to-earnings (P/E) ratio of approximately 83.69 and a debt-to-equity ratio of 0.88.Easterly Government Properties, Inc. (NYSE:DEA) is a real estate investment trust (REIT) that specializes in leasing Class A commercial properties to U.S. government agencies. On February 23, 2026, DEA reported an earnings per share (EPS) of $0.1 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from To Commission File Number: 001-36834 EASTERLY GOVERNMENT PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 47-2047728 (State or other jurisdic ...

Marino said that after quarter end the company extended the lease at FBI Knoxville and executed a long-term renewal on FBI San Antonio. With most 2026 renewals already completed, she said the company has begun shifting focus to 2027.For the full year, Marino reported net income per share of $0.29 and Core FFO per share of $2.99, representing nearly 3% year-over-year growth. Full-year Cash Available for Distribution was $118.8 million.Chief Financial Officer Allison Marino said that for the fourth quarter of ...

As we enter 2026, our strategic priorities remain unchanged and continue to guide our approach to disciplined growth and portfolio enhancement. One, core FFO growth per share of 2% to 3% annually, Number two, increasing same-store performance through thoughtful in the state, local, and high credit government-adjacent tenancy. And three, executing value-creating development opportunities into high credit stabilized assets. This strategy is designed to balance growth and durability and build a portfolio that ...

Financial Data and Key Metrics Changes - For Q4 2025, net income per share was $0.10, and Core FFO per share grew by nearly 6% year-over-year to $0.77 [15] - For the full year 2025, net income per share was $0.29, and Core FFO per share grew by nearly 3% year-over-year to $2.99 [15] - Cash Available for Distribution for Q4 was $29.1 million, and for the full year, it was $118.8 million [15] Business Line Data and Key Metrics Changes - The portfolio occupancy rate remained near historical highs at 97%, with weighted average lease terms of roughly a decade [8] - The company successfully extended leases at FBI Knoxville and executed a long-term renewal on FBI San Antonio [16] - The average rent spread achieved on renewals is anticipated to be 14%, with a weighted average total renewal term of 15.7 years [17] Market Data and Key Metrics Changes - The company completed the acquisition of a three-asset portfolio in Virginia for $44.5 million, totaling approximately 298,000 sq ft, with long-dated leases and built-in rent growth [19][20] - The acquisition was completed at a going-in cash cap rate of approximately 11%, which is in excess of the company's cost of capital [20] Company Strategy and Development Direction - The company aims for 2%-3% Core FFO growth per share annually, increasing Same-Store performance, and executing value-creating development opportunities [4][5] - The strategic priorities remain unchanged, focusing on disciplined growth and portfolio enhancement [4] - The company is well-positioned to meet the increasing demand for secure, modern government facilities [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, with guidance reflecting approximately 3% Core FFO per share growth [9][22] - The company believes that the government’s focus on efficiency and public-private partnerships will favor its business model [37] - Management highlighted the importance of maintaining strong relationships with government agencies to support mission-critical work [39] Other Important Information - The company’s current net debt to annualized quarterly EBITDA stands at 7.5x, with expectations for improvement [18][19] - The company is monitoring the market for attractive acquisition opportunities while maintaining disciplined capital management [22] Q&A Session Summary Question: Can you touch on the $1.5 billion pipeline and its near-term opportunities? - Management indicated optimism for 2026 and mentioned sorting through a significant number of transactions in the pipeline [27] Question: Have you had conversations regarding lease structures with the new GSA Administrator? - Management noted that the new administrator is focused on efficiency and public-private partnerships, which could favor the company [30] Question: Can you discuss the Virginia acquisition and its lease expiration schedule? - Management clarified that the Commonwealth of Virginia is the largest tenant with long-dated leases, and the 2027 expiration is immaterial [34] Question: What are the implications of budget cuts across various agencies? - Management emphasized that while there are cuts, the focus remains on delivering mission-critical work efficiently, which supports the company's strategy [38]

Financial Data and Key Metrics Changes - For Q4 2025, net income per share was $0.10, and Core FFO per share grew nearly 6% year-over-year to $0.77 [15] - For the full year 2025, net income per share was $0.29, and Core FFO per share grew nearly 3% year-over-year to $2.99 [15] - Cash Available for Distribution for Q4 was $29.1 million, and for the full year, it was $118.8 million [15] Business Line Data and Key Metrics Changes - The company achieved a portfolio occupancy rate near historical highs at 97% [8] - The weighted average lease term for the portfolio is approximately a decade [8] - The average rent spread achieved on renewals is anticipated to be 14% [17] Market Data and Key Metrics Changes - The company completed the acquisition of a three-asset portfolio in Virginia for $44.5 million, totaling approximately 298,000 sq ft [19] - The acquisition was completed at a going-in cash cap rate of approximately 11%, which is in excess of the company's cost of capital [20] Company Strategy and Development Direction - The company aims for 2%-3% Core FFO growth per share annually and focuses on increasing Same-Store performance through diversification into state and local government tenancies [4][5] - The strategic priorities include executing value-creating development opportunities and maintaining a strong balance sheet [4][11] - The company is positioned to meet the increasing demand for secure, modern government facilities [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, guiding approximately 3% Core FFO per share growth [9][22] - The company remains disciplined in capital allocation and is focused on tenant retention and execution across its development pipeline [22] - Management noted that ongoing federal real estate discussions highlight the need for public-private partnerships, which favor the company's business model [37] Other Important Information - The company has renewed 38 leases since its IPO, with a significant portion completed without associated renewal TI work [16] - The development portfolio includes projects like the State Crime Lab in Florida and a U.S. Courthouse in Arizona, with expected delivery dates in 2026 and 2027 [18] Q&A Session Summary Question: Can you touch on the $1.5 billion pipeline and its near-term opportunities? - Management indicated optimism for 2026 and mentioned sorting through a significant number of transactions in the pipeline [27] Question: Have you had conversations regarding lease structures with the new GSA Administrator? - Management noted that the new administrator is focused on government efficiency and public-private partnerships, which could favor the company's leasing model [30] Question: Can you discuss the Virginia acquisition and its lease expiration schedule? - Management clarified that the Commonwealth of Virginia is the largest tenant, with long-dated leases, and the 2027 expiration is immaterial [34] Question: What are the implications of budget cuts across various agencies? - Management emphasized that the government is focused on efficiency and reducing waste, which could benefit the company's mission-critical assets [38]

Financial Data and Key Metrics Changes - For Q4 2025, net income per share was $0.10, and Core FFO per share grew by nearly 6% year-over-year to $0.77 [14] - For the full year 2025, net income per share was $0.29, and Core FFO per share grew by nearly 3% year-over-year to $2.99 [14] - Cash Available for Distribution for Q4 2025 was $29.1 million, and for the full year, it was $118.8 million [14] Business Line Data and Key Metrics Changes - The company achieved a Core FFO growth per share of 2%-3% annually, maintaining a strong portfolio occupancy rate near historical highs at 97% [4][8] - The weighted average lease term for the portfolio is approximately a decade, reflecting the durability of the tenant base [8] Market Data and Key Metrics Changes - The company completed the acquisition of a three-asset portfolio in Virginia for $44.5 million, with a going-in cash cap rate of approximately 11% [18][19] - The acquisition includes long-dated leases with 2.5% annual rent escalations, supporting stable and growing cash flows [19] Company Strategy and Development Direction - The company’s strategic priorities include Core FFO growth, increasing Same-Store performance, and executing value-creating development opportunities [5] - The focus remains on government-related cash flows and disciplined capital allocation, with an emphasis on partnerships with state agencies due to their strong credit profiles [9][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, guiding to approximately 3% Core FFO per share growth, supported by operational efficiencies and successful lease renewals [21][22] - The company is well-positioned to meet the increasing demand for secure, modern government facilities, reinforcing its commitment to providing high-quality environments for public servants [6][10] Other Important Information - The company has a robust development pipeline, with key projects such as the State Crime Lab in Florida and a U.S. Courthouse in Flagstaff progressing well [16][17] - Management highlighted the appointment of Ed Forst as Administrator of the GSA, expressing confidence in collaborating with him to maximize value for shareholders [12][13] Q&A Session Summary Question: Can you touch on the $1.5 billion pipeline and its near-term opportunities? - Management indicated optimism for 2026 and mentioned sorting through a significant number of transactions in the pipeline, focusing on assets that provide a strong spread to the cost of capital [25][26] Question: Have you had conversations regarding lease structures with the new GSA Administrator? - Management noted that the new administrator is focused on government efficiency and public-private partnerships, which could favor the company's leasing strategy [28][29] Question: Can you discuss the Virginia acquisition and its lease expiration schedule? - Management clarified that the Commonwealth of Virginia is the largest tenant with long-dated leases, and the 2027 expiration is immaterial [32][33] Question: What are the implications of budget cuts across various agencies? - Management acknowledged the cuts but emphasized that the focus remains on mission-critical work, and the company is well-positioned to support government efficiency [35][36][37]

Exhibit 99.2 Disclaimers Forward-looking Statement We make statements in this Supplemental Information Package that are considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should ...

WASHINGTON--(BUSINESS WIRE)--Easterly Government Properties, Inc. (NYSE: DEA) (the "Company†or "Easterly†), a fully integrated real estate investment trust ("REIT†) focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government and its adjacent partners, today announced its results of operations for the quarter and full year ended December 31, 2025. Highlights for the Quarter Ended December 31, 2025: Net income of $4.8 million, o. ...