As I am submitting this article, Easterly Government Properties (NYSE:DEA) is trading at just over $20 (intraday 5/9/25). I intend to demonstrate this price to be ridiculously low relative to the stream of cash flows ahead. At this price, DEA has the following yields: 13.6% CAD yield (Cash available for distribution) 14.5% core FFO yield (Core Funds from Operations) 8.9% dividend yield 4.7% retained cash flow yield The Buy Thesis DEA’s market price has collapsed beyond reason from a non-fundamental reacti ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find compa ...

REIT dividend yields are today at the highest level they have been in years. REIT share prices (VNQ) have crashed even as cash flows and dividend payments kept rising, resulting in high dividend yields: In some cases, the dividend yields now ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 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) (State of Incorporation) (IRS Employer I ...

Easterly Government Properties (DEA) Q1 2025 Earnings Call April 29, 2025 03:57 PM ET Speaker0 Welcome to the Easterly Government Properties First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session between the company's research analysts and Easterly's management team. Please be advised that today's conference is being recorded. I would now like to hand the conference ove ...

Core Viewpoint - Easterly Government Properties reported quarterly results that were generally in line with expectations, but investor sentiment is overshadowed by earlier disappointing news regarding dividend cuts and stock splits [1][3]. Company Performance - The company reported first-quarter funds from operations (FFO) of $0.73 per share on revenue of $78.7 million, with FFO meeting expectations while revenue fell short by $1.3 million [4]. - Following the announcement of a 32% reduction in quarterly dividends and a 1-for-2.5 reverse stock split, shares dropped by 15% [3]. Industry Context - Easterly, as a REIT focused on government properties, is affected by the Department of Government Efficiency's initiatives to reduce federal spending, including real estate [2]. - The CEO expressed optimism that the company could benefit from government cost-saving efforts, indicating a potential shift towards partnerships with private real estate owners [5]. Investor Sentiment - The company is currently viewed as a "show me" stock, with investors advised to monitor it closely due to the recent volatility and changes in dividend policy [6].

Easterly Government Properties (DEA) Q1 2025 Earnings Call April 29, 2025 11:00 AM ET Company Participants Lindsay Winterhalter - Senior Vice President of Investor Relations & OperationsDarrell Crate - CEO, President & DirectorAllison Marino - EVP & CFOPeter Abramowitz - SVP - Equity ResearchMichael Carroll - Managing Director & Head of US Real Estate ResearchJohn Kim - Managing Director - US Real Estate Conference Call Participants Seth Bergey - Senior Analyst Operator Welcome to the Easterly Government Pr ...

分组1 - Easterly Government Properties reported quarterly funds from operations (FFO) of $0.73 per share, significantly missing the Zacks Consensus Estimate of $7.33 per share, representing an FFO surprise of -90.04% [1] - The company posted revenues of $78.68 million for the quarter ended March 2025, which was 3.83% below the Zacks Consensus Estimate, compared to $72.8 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus FFO estimates only once and has also topped consensus revenue estimates just once [2] 分组2 - The stock has lost approximately 92.6% since the beginning of the year, contrasting with the S&P 500's decline of -6% [3] - The current consensus FFO estimate for the upcoming quarter is $7.33 on revenues of $82.64 million, while for the current fiscal year, it is $29.83 on revenues of $335.79 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the bottom 38% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

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 ...

Market Efficiency and Stock Price Movements - The market exhibits varying degrees of efficiency, particularly less efficient during erratic price movements, with recent intraday swings reaching up to 8 percentage points [1] - It is essential to differentiate between stocks that have declined for valid reasons and those that are merely affected by broader market movements [2] Categories of Stock Price Declines - Stock price declines can be categorized into two types: one where earnings decrease leading to a price drop, and another where multiples contract without a change in earnings [6] - The focus should be on investing in companies whose fundamentals remain intact despite a drop in multiples [2] Fundamental Impact on Stocks - Macro news tends to influence the entire market, often leading to mispricing, while individual stock news affects specific companies [3] - Companies like Apple (AAPL) are more susceptible to macroeconomic news, which can lead to a fundamental decline in earnings [4] Investment Opportunities in REITs - Centerspace (CSR), a midwestern apartment REIT, has seen a 13.7% decline in the last month, but its fundamentals remain strong due to decreasing apartment construction starts [5][11] - Broadstone Net Lease (BNL) has also experienced a 13% selloff, yet its long-term triple net lease structure ensures stable revenue growth [14][20] - Easterly Government Properties (DEA) faced a total drop of over 26% due to a dividend cut, but its earnings guidance remains unchanged, indicating a potential undervaluation [23][26] Market Reactions and Valuation - The market's reaction to dividend changes can lead to significant price drops that do not reflect the underlying fundamentals of the company [32] - The AFFO yield for DEA is now above 11%, suggesting it is undervalued compared to its reliable cash flows from long-term government leases [35] Conclusion on Investment Strategy - Market pricing inefficiencies create opportunities for investors to identify undervalued stocks that do not reflect their true fundamental value [36]