DEA Shares Plunge 4.37% Amid Property Sales

Easterly Government Properties (DEA) shares plunged 4.37% today, marking the fourth consecutive day of decline, with a cumulative drop of 13.13% over the past four days. The share price hit a record low today, with an intraday decline of 5.20%.

Easterly Government Properties, Inc. (NYSE: DEA) announced that it has entered into a definitive agreement to acquire a portfolio of 10 properties from a private seller for a total purchase price of approximately $150 million. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions. The properties are located in strategic government markets and are expected to generate stable cash flows for the company.

Easterly Government Properties, Inc. (NYSE: DEA) reported its financial results for the first quarter of 2024. The company reported funds from operations (FFO) of $0.35 per share, in line with analysts' expectations. The company's revenue for the quarter was $58.5 million, a 5% increase year-over-year. The company's net income for the quarter was $10.2 million, or $0.12 per share. The company's occupancy rate remained stable at 95.5%.

Easterly Government Properties, Inc. (NYSE: DEA) announced that it has entered into a definitive agreement to sell a portfolio of 5 properties for a total purchase price of approximately $75 million. The sale is expected to close in the second quarter of 2024, subject to customary closing conditions. The properties are located in non-strategic markets and are expected to generate lower returns for the company.

Easterly Government Properties, Inc. (NYSE: DEA) announced that it has entered into a definitive agreement to acquire a portfolio of 10 properties from a private seller for a total purchase price of approximately $150 million. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions. The properties are located in strategic government markets and are expected to generate stable cash flows for the company.

Easterly Government Properties, Inc. (NYSE: DEA) announced that it has entered into a definitive agreement to sell a portfolio of 5 properties for a total purchase price of approximately $75 million. The sale is expected to close in the second quarter of 2024, subject to customary closing conditions. The properties are located in non-strategic markets and are expected to generate lower returns for the company.