Easterly Government Properties Reports Q1 2025 Results

Easterly Government Properties Inc. ( (DEA) ) has released its Q1 earnings. Here is a breakdown of the information Easterly Government Properties Inc. presented to its investors.

Easterly Government Properties, Inc. is a real estate investment trust (REIT) that specializes in the acquisition, development, and management of Class A commercial properties leased primarily to the U.S. Government and its partners. The company is based in Washington, D.C., and focuses on properties leased to mission-critical U.S. Government agencies.

In its first-quarter 2025 earnings report, Easterly Government Properties announced several key developments, including a new federal courthouse development project with a 20-year non-cancelable lease and an acquisition of a DC government facility with a nearly 12-year weighted average lease term (WALT). The company also raised the lower end of its 2025 guidance.

The company’s financial performance for the quarter ended March 31, 2025, included a net income of $3.3 million, or $0.07 per share, and Core Funds From Operations (Core FFO) of $33.1 million, or $0.73 per share. Easterly entered into a master note purchase agreement to issue $125 million in senior unsecured notes and raised approximately $40.9 million through its ATM program. Additionally, the company executed a reverse stock split and adjusted its dividend payout.

Easterly’s portfolio as of the end of the quarter comprised 100 operating properties, with a weighted average remaining lease term of 9.8 years. The company also secured a 20-year lease for a federal courthouse in Oregon and extended the maturity date of its 2016 Term Loan.

Looking ahead, Easterly Government Properties has raised its guidance for full-year 2025 Core FFO per share, reflecting management’s optimistic outlook on future growth opportunities. The company anticipates continued strategic acquisitions and development investments throughout the year.