Easterly Government Properties (DEA) Q2 FFO Match Estimates

Company Performance - Easterly Government Properties (DEA) reported quarterly funds from operations (FFO) of $0.29 per share, consistent with the Zacks Consensus Estimate, and unchanged from the previous year [1] - The company achieved revenues of $76.22 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.03%, compared to $71.37 million in the same quarter last year [9] - Over the last four quarters, the company has surpassed consensus FFO estimates only once [2] Future Outlook - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call and the company's FFO outlook [3][4] - The current consensus FFO estimate for the upcoming quarter is $0.29, with projected revenues of $77.1 million, and for the current fiscal year, the estimate is $1.15 on revenues of $304.06 million [12] - The estimate revisions trend for Easterly Government Properties is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [5] Industry Context - The REIT and Equity Trust - Other industry, to which Easterly Government Properties belongs, is currently in the bottom 40% of over 250 Zacks industries, which may impact stock performance [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions, suggesting that investors should monitor these revisions closely [11]