Easterly Government Properties has missed or fallen short of earnings estimates in three of the past four quarters by an average of nearly 39%, and the stock already trades above the level implied by analyst price targets; however, a sharp upward revision in forward earnings estimates and strong free cash flow conversion relative to GAAP income suggest a potential inflection that the recent earnings record has not yet validated.
Thesis pillars
- Persistent Earnings Delivery Failure↑Improving
- Estimate Revision Momentum↑Improving
- Strong Cash Conversion Vs Gaap↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 23, 2026
Easterly Government Properties, (DEA) Stock Analysis
Range Bound setup
Real Estate · REIT - Office
Sell if holding. Analyst target reached at $22.77 — A.R:R is negative (-0.6) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: U.S. Government tenant agencies (88.1%).
Easterly Government Properties is an internally managed REIT that acquires, develops, and manages Class A properties leased to U.S. Government agencies, owning 93 wholly owned operating properties (10.4 million square feet, 97% leased) as of December 31, 2025. U.S. Government... Read more
Sell if holding. Analyst target reached at $22.77 — A.R:R is negative (-0.6) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: U.S. Government tenant agencies (88.1%). Chart setup: RSI 46 mid-range, Bollinger mid-band. Score 5.0/10, high confidence.
Passes 5/8 gates (clean insider activity, news boost earnings 0.60, earnings proximity 115d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. Suitability: aggressive.
Recent developments
updated 2026-10-29Recent Developments — Easterly Government Properties,
Latest news
- NEWS Easterly Government Properties Keeps Quarterly Dividend at $0.45 a Share, Payable Aug. 20 to Holders of Record Aug. 10 - — marketscreener.com neutral
- NEWS Easterly Government Properties declares $0.45 dividend By Investing.com - Investing.com South Africa — Investing.com South Africa positive
- NEWS Easterly Government Properties declares $0.45 dividend By Investing.com - Investing.com Canada — Investing.com Canada neutral
- NEWS Easterly Government Properties Announces Quarterly Dividend - businesswire.com — businesswire.com neutral
- NEWS Easterly Government Properties Announces Quarterly Dividend - marketscreener.com — marketscreener.com neutral
Generated 2026-10-29T13:44:01Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHCustomerU.S. Government tenant agencies88%10-K Item 1: 'our U.S. Government tenant agencies accounted for 88.1% of our annualized lease income.'
- MEDIUMCustomerVA, FBI, and DEA (top three tenant agencies)47%10-K Item 1A: 'three of our U.S. Government tenant agencies, the Department of Veteran Affairs ("VA"), Federal Bureau of Investigation ("FBI"), and Drug Enforcement Administration ("DEA"), accounted for an aggregate of approximately 42.0% of our total leased square feet and an aggregate of approximately 47.3% of our total annualized lease income.'
- LOWGeographicCalifornia17%10-K Item 1A: 'Seventeen of our properties are located in California, accounting for approximately 13.3% of our total leased square feet and approximately 17.1% of our total annualized lease income'
Material Events(8-K, last 90d)
- 2026-04-24Item 5.02LOWAt the April 22, 2026 Annual Meeting, stockholders approved amending the 2024 Equity Incentive Plan to increase authorized shares from 1,440,000 to 4,315,000, an increase of 2,875,000 shares. Routine equity plan amendment; no departure or appointment.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $22.77 — A.R:R is negative (-0.6) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: U.S. Government tenant agencies (88.1%). Chart setup: RSI 46 mid-range, Bollinger mid-band. Prior stop was $21.73. Score 5.0/10, high confidence.
Analyst target $21.94 reached (−3.7% from $22.77); no take-profit level is published. Prior stop was $21.73. Stop-loss: $21.73.
Concentration risk — Customer: U.S. Government tenant agencies (88.1%); Analyst target reached - limited upside remaining; V7 low-quality RISK_OFF penalty: -0.5 (Q=4.6).
Easterly Government Properties, trades at a P/E of 77.6 (forward 86.6). TrendMatrix value score: 4.9/10. Verdict: Sell.
11 analysts cover DEA with a consensus score of 3.5/5. Average price target: $25.
What does Easterly Government Properties, do?Easterly Government Properties is an internally managed REIT that acquires, develops, and manages Class A properties...
Easterly Government Properties is an internally managed REIT that acquires, develops, and manages Class A properties leased to U.S. Government agencies, owning 93 wholly owned operating properties (10.4 million square feet, 97% leased) as of December 31, 2025. U.S. Government tenants accounted for 88.1% of annualized lease income, with the VA, FBI, and DEA alone representing 47.3% of that income, and California properties contributing 17.1%.