LONDON, UK / ACCESSWIRE / June 7, 2018 / Active-Investors has a free review on Easterly Government Properties, Inc. (NYSE: DEA) following the Company's announcement that it will begin trading ex-dividend on June 08, 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 June 07, 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 May 04, 2018, Easterly Government Properties announced that its Board of Directors has approved a quarterly cash dividend of $0.26 per common share. The dividend will be payable on June 28, 2018, to shareholders of record on June 11, 2018.
Easterly Government Properties' indicated dividend represents a yield of 5.13%, which is substantially higher than the average dividend yield of 3.09%. for the financial sector The Company has raised its dividend for two years in a row.
Easterly Government Properties has a dividend payout ratio of 80.6%, which means that the Company distributes approximately $0.81 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 Government Properties is forecasted to report earnings of $0.24 for the upcoming year compared to the Company's annualized dividend of $1.04. One of the primary reasons for the difference between earnings and annualized dividend is that Easterly Government Properties 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 (D&A) 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, Easterly Government Properties' net income was $1.52 million, or $0.03 per diluted share, in Q1 2018 compared to net income of $1.24 million, or $0.03 per share, in Q1 2017.
On the other hand, the Company's adjusted FFO (AFFO) was $16.4 million, or $0.31 per share on a fully diluted basis, compared to AFFO of $14.41 million, or $0.31 per diluted share, in Q1 2017. The FFO number indicates that the Company should be able to comfortably cover its dividend pay-out.
Recent Development for Easterly Government Properties
On May 30, 2018, Easterly Government Properties announced that it has acquired a 56,753-square foot Department of Veterans Affairs (VA) Denver Acquisitions and Logistics Center in Golden, Colorado (VA - Golden).
VA - Golden, a renovated-to-suit property was originally constructed in 1996 and fully renovated in 2011 to meet the specific design needs of the VA. The facility is leased to the VA for an initial 15-year lease, which expires in September 2026.
The VA is a cabinet-level federal agency responsible for providing vital services to the 22 million US military veterans currently living in the US and an additional 25.7 million family members and dependents eligible for benefits. The VA employs nearly 350,000 people, all dedicated to providing infrastructure and support to US veterans and their families.
About Easterly Government Properties, Inc.
Easterly Government Properties is based in Washington, D.C., and focuses primarily on the acquisition, development, and management of Class A commercial properties that are leased to the US Government. Easterly's experienced management team brings specialized insight into the strategy and needs of mission-critical US Government agencies for properties leased to such agencies either directly or through the US General Services Administration (GSA).
Stock Performance Snapshot
June 06, 2018 - At Wednesday's closing bell, Easterly Government Properties' stock slightly dropped 0.10%, ending the trading session at $20.28.
Volume traded for the day: 334.33 thousand shares.
Stock performance in the previous three-month period - up 1.71%
After yesterday's close, Easterly Government Properties' market cap was at $938.36 million.
Price to Earnings (P/E) ratio was at 198.82.
The stock has a dividend yield of 5.13%.
The stock is part of the Financial sector, categorized under the REIT - Office industry. This sector was up 1.3% at the end of the session.
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