Core Viewpoint - Easterly Government Properties, Inc. (DEA) is undervalued with a current enterprise value of $2.825 billion against $3.389 billion in rent owed by the U.S. Government, presenting a favorable risk/reward outlook for investors [1][2]. Group 1: Valuation and Market Performance - DEA's stock has significantly declined from a trading multiple of 20X funds from operations (FFO) five years ago to a current multiple of approximately 10X, with the stock price dropping from the mid-$20s to $11.77 [4][6]. - The decline in DEA's stock price is attributed to its classification as an office REIT, which has faced challenges in the post-pandemic environment, despite DEA's fundamentals remaining strong [7][10]. Group 2: Dividend Yield and Financial Health - DEA offers a 9% dividend yield, which is perceived as high risk due to a cash available for distribution (CAD) payout ratio exceeding 100% [31][32]. - The company reported quarterly dividends of 26.5 cents per share, totaling $28.7 million, with core FFO of $32.2 million covering dividends but not CAD of $25.1 million [34][36]. Group 3: Growth Outlook and Risks - DEA's growth outlook includes a return to FFO/share growth in 2024 and strong guidance for 2025, with projected core FFO in the range of $1.17 to $1.21 [15][29]. - The Department of Government Efficiency (DOGE) initiative poses a risk to DEA, as it may lead to reduced demand for government-leased properties, although the impact is expected to be minimal [16][23][29]. Group 4: Property Quality and Tenant Credit - DEA's properties are characterized by high quality and long lease terms, with a weighted average remaining lease term greater than 10 years, which provides stability against potential government spending cuts [25][28]. - Nearly 100% of DEA's tenants have the highest credit rating, primarily from the U.S. Government, enhancing the reliability of its revenue stream [28][29]. Group 5: Future Projections and Value Proposition - The company anticipates achieving full CAD coverage of its current dividend level within 24 months through rent escalators and accretive acquisitions [37][38]. - DEA is viewed as a classic value stock, trading at multiples appropriate for a high-risk company, but with fundamentals suggesting a potential for significant stock appreciation, estimated at roughly 50% above current prices [27][44].

Group 1 - The article emphasizes a quality over quantity investment approach, focusing on long-term holdings in high-quality stocks [1] - The author aims to assist lower and middle-class workers in building investment portfolios centered around high-quality, dividend-paying companies [1] - The investment strategy includes a plan to supplement retirement income through dividends within the next 5-7 years [1] Group 2 - The article does not disclose any current stock or derivative positions in the companies mentioned, nor does it plan to initiate any within the next 72 hours [2] - The opinions expressed in the article are solely those of the author and do not reflect the views of Seeking Alpha as a whole [3]

Group 1 - Easterly Government Properties (DEA) has acquired a 100,000-square-foot Internal Revenue Service (IRS) facility in Ogden, UT, increasing its portfolio to 97 properties totaling 9.5 million square feet [1] - The Ogden facility is fully leased to the General Services Administration for IRS operations, meeting level 4 security requirements and housing critical functions related to tax submission processing and digital fraud [2] - The lease for the Ogden facility is set to expire in January 2029, with two five-year extension options available, ensuring long-term rental revenue stability [3] Group 2 - DEA has been actively pursuing strategic acquisitions, including a recent purchase of a 104,136-square-foot facility near Buckley Space Force Base, which is fully leased to Northrop Grumman Systems Corporation [4] - The company focuses on acquiring, developing, and managing class A commercial properties leased to the U.S. Government, positioning itself for steady long-term rental income [5] - Despite a 6.7% increase in shares over the past six months, DEA has underperformed compared to the industry growth of 17.3%, indicating a potential entry point for investors [5]

Core Insights - The iREIT®+HOYA Capital investing group focuses on income-oriented alternatives such as REITs, BDCs, MLPs, and Preferreds, leveraging a team with over 100 years of combined experience [2] - Brad Thomas, a key figure in the group, has extensive real estate investing experience, having been involved in over $1 billion in commercial real estate transactions [3] Group 1 - iREIT® Tracker provides comprehensive data on over 250 tickers, including quality scores, buy targets, and trim targets, aimed at enhancing investment research [1] - The team includes diverse professionals, such as a former hedge fund manager and a military veteran, indicating a broad range of expertise [2] Group 2 - Brad Thomas has been featured in prominent media outlets like Barron's and Bloomberg, highlighting his credibility and influence in the real estate investment sector [3]

$ 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 September 30, 2024 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 of Inco ...

Easterly Government Properties, Inc. (NYSE:DEA) Q3 2024 Earnings Conference Call November 5, 2024 11:00 AM ET Company Participants Lindsay Winterhalter - SVP, IR Darrell Crate - President & CEO Allison Marino - CFO Conference Call Participants Michael Griffin - Citi Peter Abramowitz - Jefferies Aditi Balachandran - RBC Capital Markets Michael Lewis - Truist Securities Operator Greetings. Welcome to the Easterly Government Properties Third Quarter 2024 Earnings Conference Call. At this time, all participants ...

分组1 - Easterly Government Properties reported quarterly funds from operations (FFO) of $0.30 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, and showing an increase from $0.29 per share a year ago, resulting in an FFO surprise of 3.45% [1] - The company posted revenues of $74.78 million for the quarter ended September 2024, which missed the Zacks Consensus Estimate by 3.60%, compared to revenues of $72.01 million a year ago [2] - Over the last four quarters, the company has surpassed consensus FFO estimates two times and topped consensus revenue estimates just once [2] 分组2 - The stock's immediate price movement will depend on management's commentary on the earnings call and future FFO expectations [3] - Since the beginning of the year, Easterly Government Properties shares have increased by about 0.3%, while the S&P 500 has gained 19.8% [3] - The current consensus FFO estimate for the coming quarter is $0.29 on revenues of $78.85 million, and for the current fiscal year, it is $1.15 on revenues of $305.22 million [7] 分组3 - The estimate revisions trend for Easterly Government Properties is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The REIT and Equity Trust - Other industry is currently in the top 27% of Zacks industries, suggesting that stocks in the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Properties Inc. overnment Supplemental Information Package Third Quarter 2024 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," " ...

The company has now entered undervalued territory, according to one pundit tracking its fortunes. While Easterly Government Properties (DEA 3.32%) had no proprietary news to report as the trading week kicked off, it was bolstered by an analyst's move. With that at its back, the specialty real estate investment trust's (REIT) shares were pushed more than 3% higher in price on Monday. That percentage was well above the 0.8% gain posted by the S&P 500 index. Recommendation upgrade Easterly is an outlier among ...

DALLAS, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Aligned Data Centers, a leading technology infrastructure company offering innovative, sustainable, and adaptive Scale Data Centers and Build-to-Scale solutions for global hyperscale and enterprise customers, today announced the appointment of Meghan Baivier as Chief Financial Officer (CFO). In addition, the company announced the transition of former CFO, Anubhav Raj, to Aligned's new Chief Investment Officer (CIO). Meghan Baivier Joins as Chief Financial Officer M ...