Easterly Government Properties (NYSE:DEA) Hits New 1-Year High – Here’s Why

Easterly Government Properties, Inc. (NYSE:DEA)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $14.36 and last traded at $14.35, with a volume of 842289 shares changing hands. The stock had previously closed at $13.94.

Analyst Ratings Changes

A number of equities analysts have commented on DEA shares. StockNews.com upgraded shares of Easterly Government Properties from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Truist Financial upped their target price on shares of Easterly Government Properties from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group upgraded shares of Easterly Government Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $15.00 in a research note on Monday.

Easterly Government Properties Price Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.57 and a current ratio of 3.57. The stock’s 50 day simple moving average is $13.48 and its 200 day simple moving average is $12.69. The firm has a market capitalization of $1.49 billion, a P/E ratio of 72.05 and a beta of 0.72.

Hedge Funds Weigh In On Easterly Government Properties

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Easterly Government Properties by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,009,182 shares of the real estate investment trust’s stock valued at $126,716,000 after buying an additional 175,750 shares during the period. Victory Capital Management Inc. increased its holdings in Easterly Government Properties by 1.2% during the second quarter. Victory Capital Management Inc. now owns 1,853,260 shares of the real estate investment trust’s stock valued at $22,925,000 after buying an additional 21,795 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Easterly Government Properties by 5.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,516,641 shares of the real estate investment trust’s stock valued at $17,457,000 after buying an additional 71,939 shares during the period. Dimensional Fund Advisors LP increased its holdings in Easterly Government Properties by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,361,719 shares of the real estate investment trust’s stock valued at $16,844,000 after buying an additional 9,738 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Easterly Government Properties by 9.8% during the second quarter. Bank of New York Mellon Corp now owns 1,144,075 shares of the real estate investment trust’s stock valued at $14,152,000 after buying an additional 102,521 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Easterly Government Properties Company Profile

Easterly Government Properties, Inc (NYSE: DEA) is based in Washington, DC, and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S.