LONDON, UK / ACCESSWIRE / March 09, 2018 / Active-Investors has a free review on Easterly Government Properties, Inc. (NYSE: DEA) ("Easterly") following the Company's announcement that it will begin trading ex-dividend on March 12, 2018. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on March 09, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on DEA:
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On February 22, 2018, Easterly announced that its Board of Directors has approved a quarterly cash dividend of $0.26 per common share. The dividend will be payable on March 28, 2018, to shareholders of record on March 13, 2018.
Easterly's indicated dividend represents a yield of 5.22%, which is substantially above the average dividend yield of 3.81% for the Financial sector. The Company has raised dividend for two years in a row.
Easterly has a dividend payout ratio of 78.2%, which denotes that the Company distributes approximately $0.78 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Easterly is forecasted to report earnings of $0.21 per share for the next year compared to the Company's annualized dividend of $1.04 per share. One of the primary reasons for the difference between earnings and annualized dividend is that Easterly is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.
Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization to earnings and subtracting any gains on sales which then provides a better picture of any company's profitability and capacity to pay and to sustain dividends. For instance, for the quarter ended December 31, 2017, Easterly reported net income of $1.53 million, or $0.03 per diluted share, compared to net income of $1.65 million, or $0.04 per diluted share, in Q4 2016.
On the other hand, Easterly Government Properties' adjusted funds from operations (AFFO) for the quarter ended December 31, 2017, was $14.3 million, or $0.27 per diluted share, compared to $13.34 million, or $0.30 per share, in same prior year's same period. The Company's FFO number indicates that the Company should be able to comfortably cover its dividend payout.
Recent Development for Easterly
On February 28, 2018, Easterly announced that it has acquired the rights to a lease award for the re-development of a 210,373-square foot FEMA facility located in Tracy, California.
The Federal Emergency Management Agency (FEMA), is responsible for coordinating a comprehensive response to disasters in the United States that exceed the capabilities of local and state authorities. As part of FEMA's mission to deliver immediate, on-the-ground response in moments of disaster, FEMA maintains eight distribution centers within the United States for emergency response preparedness. These facilities house a full inventory of goods that may be needed for FEMA's response to a disaster.
FEMA - Tracy, one of the eight regional distributions centers, is currently under re-development with an anticipated delivery date in H2 2018. Easterly has assumed all re-development activities and, upon occupancy, will commence a 20-year non-cancelable lease with the General Services Administration (GSA) on this mission critical facility.
Stock Performance Snapshot
March 08, 2018 - At Thursday's closing bell, Easterly Government Properties' stock slightly declined 0.55%, ending the trading session at $19.83.
Volume traded for the day: 473.73 thousand shares.
Stock performance in the last month – up 0.51%; and past twelve-month period – up 0.20%
After yesterday's close, Easterly Government Properties' market cap was at $865.98 million.
Price to Earnings (P/E) ratio was at 194.41.
The stock has a dividend yield of 5.24%.
The stock is part of the Financial sector, categorized under the REIT - Office industry. This sector was up 0.1% at the end of the session.
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