U.S. Markets closed

Easterly Government Properties: 1Q Earnings Snapshot

WASHINGTON (AP) _ Easterly Government Properties Inc. (DEA) on Tuesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.

The real estate investment trust, based in Washington, said it had funds from operations of $22 million, or 31 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 31 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $416,000, or 1 cent per share.

The property management company posted revenue of $50.6 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $49.3 million.

Easterly Government Properties expects full-year funds from operations to be $1.16 to $1.20 per share.

The company's shares have increased 17% since the beginning of the year. The stock has fallen 13% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DEA at https://www.zacks.com/ap/DEA