Easterly Government Properties, Inc. (DEA) AI Stock Analysis

Easterly Government Properties, Inc. is headquartered in Washington, D.C., and focuses on acquiring, developing, and managing Class A commercial properties leased to the U.S. Government. Its strategic focus centers on properties essential to mission-critical U.S. Government agencies, leased either directly or through the U.S. General Services Administration (GSA). The company targets facilities meeting stringent government standards for security, functionality, and operational efficiency to provide stable, long-term cash flows. Beyond core leasing, Easterly pursues strategic acquisitions and development projects to expand its government-leased footprint across key geographic markets.

Between FY2020 and FY2025, Easterly achieved a 5-year revenue CAGR of 6.5%. Annual revenue increased from $274.9M in FY2021 to $293.6M in FY2022, dipped 2.2% to $287.2M in FY2023, then rose 5.2% to $302.1M in FY2024 and 11.3% to $336.1M in FY2025. However, net income dropped from $30.1M in FY2021 to $13.0M in FY2025, with net margin declining from 10.9% to 3.9%, and gross margin registering -0.9% in FY2025. For the trailing twelve months ending June 30, 2026, revenue stood at $363.5M with an operating margin of 25.1% and a profit margin of 2.8%. In the latest quarter, quarterly revenue grew 9.2% year-over-year, while quarterly earnings declined 31.3%.

As of June 30, 2026, Easterly held $3.3M in cash and short-term investments against total debt of $1.72B, resulting in net debt of $1.72B. The company had shareholders' equity of $1.32B, total assets of $3.42B, a debt-to-equity ratio of 1.31, and a current ratio of 0.34. In FY2025, operating cash flow and free cash flow were both $259.2M. Capital expenditures reached $110.7M, dividends paid totaled $94.6M, and proceeds from share issuance were $63.6M, while the 5-year share count change was -46.3%.

At a last close price of $21.82 on October 16, 2026, Easterly has a market cap of $1.07B and an enterprise value of $2.81B. Its trailing P/E of 114.8x and forward P/E of 73.0x trade at premiums compared to the median of its US-listed Real Estate peers at 21.6x and 23.5x, respectively. The company's EV/EBITDA of 13.2x is below the peer median of 14.7x, and its price-to-sales of 2.9x sits below the peer median of 3.7x. Over the past year, DEA gained 7.2% versus 16.8% for SPY, and over five years returned -39.3% compared to an 83.0% gain for SPY.

Easterly pays a quarterly dividend with an annualized forward dividend of $1.80, representing a dividend yield of 8.25% as of October 16, 2026. The company has paid dividends for 12 consecutive years, generating a 5-year annualized dividend growth rate of 0.7%. Its reported payout ratio stands at 1.9%, and the last ex-dividend date was August 10, 2026. In FY2025, total dividends paid were $94.6M.

Wall Street coverage consists of 7 ratings: 1 Strong Buy, 1 Buy, 4 Hold, and 1 Sell. The mean price target is $25.36, representing a 16.2% upside from the last close of $21.82. For the current fiscal year ending December 31, 2026, analysts estimate EPS of $0.23 (a 14.8% decline) and revenue of $368.6M. The company recorded 0 EPS beats over the last 4 quarters. The next earnings date is October 26, 2026.

This page is an AI-written research summary of Easterly Government Properties, Inc. (DEA). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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