# Easterly Government Properties, Inc. (DEA)

> Source: Nexqual · https://nexqual.com/DEA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Easterly Government Properties, Inc. (DEA), nexqual.com/DEA" · informational, not investment advice.

**Price:** USD 22.57 (+2.13% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 22.1 · day 22.14–22.63 · 52w 20.56–25.96 · market cap $1.11B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $357M, net income $10.2M (2.9% margin) (SEC filings).
- Valuation: P/E 108.2x (avg 67.1x at the last 3 fiscal year-ends), net debt $1.70B.
- Analysts: Hold (mean 2.86 on a 1–5 scale) (7 analysts), mean target USD 25.21 (range 22–27).
- Total return with dividends: 1Y +9.0% vs S&P 500 +14.9%; 5Y -38.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-26, EPS estimate USD 0.07, revenue estimate $92.7M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $275M | $294M | $287M | $302M | $336M | $357M |
| Gross profit | $218M | $227M | $215M | $232M | $259M | — |
| Net income | $30.1M | $31.5M | $18.8M | $19.6M | $13.0M | $10.2M |
| EPS (diluted) | $0.88 | $0.85 | $0.48 | $0.46 | $0.27 | — |
| Gross margin | 79.4% | 77.3% | 74.9% | 76.8% | 76.9% | — |
| Net margin | 10.9% | 10.7% | 6.5% | 6.5% | 3.9% | 2.9% |
| Revenue growth | +12.2% | +6.8% | -2.2% | +5.2% | +11.3% | — |
| Cash + short-term investments | $11.1M | $7.6M | $9.4M | $19.4M | $23.4M | — |
| Total debt | $1.21B | $1.25B | $1.29B | $1.60B | $1.67B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 108.2x · P/S 3.1x · EV/Sales 7.9x · P/B 0.8x · Earnings yield 0.92% · Dividend yield (paid, TTM) 7.84% · Net debt $1.70B · EV $2.81B
P/E at fiscal year-ends: Dec 2025 73.4x, Dec 2024 60.3x, Dec 2023 67.6x.

## Analysts
Consensus Hold (mean 2.86 on a 1–5 scale), 7 analysts; mean target USD 25.21 (low 22, high 27).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-27 | Truist Securities | Target raised | Hold | $24 → $26 |
| 2026-08-24 | RBC Capital | Target raised | Underperform | $22 → $24 |
| 2026-08-07 | Citigroup | Target raised | Neutral | $23 → $25 |
| 2026-08-04 | BMO Capital | Target raised | Market Perform | $25 → $27 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +9.0% | -38.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +9.1% | -9.1% |
| Volatility (annualized) | 20.6% | 25.3% |
| Max drawdown | -14.7% (Jul 2026→Oct 2026) | -55.1% (Jan 2022→Apr 2025) |

## Peers (REIT - Office)
PDM (Piedmont Realty Trust, Inc.) USD 9.63 +4.11% · ESBA (Empire State Realty OP, L.P. Se) USD 4.99 +4.51% · PSTL (Postal Realty Trust, Inc.) USD 21.87 +2.39% · DEI (Douglas Emmett, Inc.) USD 10.09 +5.88% · HPP (Hudson Pacific Properties, Inc.) USD 10.58 +11.84% · BDN (Brandywine Realty Trust) USD 2.95 +9.26%

## More
Full page: https://nexqual.com/DEA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Real Estate Other | $1.7M | 1.9% | +27.1% |
| Tenant Reimbursements | $345,000 | 0.4% | -81.8% |
| Total revenue | $92.4M | 100% | — |
The lines above cover 2.2% of total revenue.

## Customer concentration

Period ended 2026-06-30: 86.3%, 8.4%, 5.3% of revenue from unnamed direct customers (10-Q, filed 2026-08-03).

## Company outlook (8-K filed 2026-08-03)

- "Outlook for the 12 Months Ending December 31, 2026 The Company is raising its guidance for full-year 2026 Core FFO per share on a fully diluted basis at a range of $3.07 - $3.13."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.07 | $0.04 | +75.0% | $92.7M | 2 |
| Next quarter (ends 2026-12-31) | $0.07 | $0.06 | +16.7% | $93.0M | 2 |
| Current fiscal year (ends 2026-12-31) | $0.23 | $0.18 | +27.8% | $368.6M | 2 |
| Next fiscal year (ends 2027-12-31) | $0.32 | $0.28 | +14.3% | $378.1M | 1 |