Easterly Government Properties (DEA)
NYSE:DEA
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Earnings Data
Report Date
Aug 04, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.04Last Year’s EPS
0.09Same Quarter Last Year
Moderate Sell
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a constructive operational and financial picture: solid top-line and EBITDA growth, rising FFO per share, high portfolio occupancy and long lease terms, and expanded capital-allocation options (notably mezzanine lending). Management is cautiously optimistic—raising the low end of guidance and highlighting a meaningful $1.5 billion pipeline and potential to achieve investment-grade status by 2027. Offsetting factors include slightly higher leverage (7.3x adjusted net debt/EBITDA), deferral of equity issuance due to weak share-price conditions, continued interest-rate and market volatility, and timing risk around development deliveries and government leasing. On balance the positives (growth, portfolio quality, new yield-enhancing strategies, and guidance upside) materially outweigh the operational and financing headwinds.Company Guidance
Strong Top-Line Growth
Total revenue rose to $91.5 million in Q1 2026 from $78.7 million a year ago, a 16% year-over-year increase driven by recent acquisitions, contractual rent growth, and lease stability.
EBITDA and FFO Expansion
EBITDA increased to $57.3 million from $51.0 million (approximately +12%). FFO per share rose to $0.76 from $0.71 (~+7% YoY) and core FFO per share increased to $0.77 from $0.73 (~+5.5% YoY), indicating expanding earnings power and per-share profitability.
High Portfolio Occupancy and Long Lease Terms
Portfolio occupancy remained strong at 97%, outpacing REIT peers, with weighted average lease term (WALT) of approximately 9.4 years, reflecting mission-critical, long-duration tenant commitments.
Liquidity Flow to Shareholders
Cash available for distribution was approximately $32.2 million for the quarter, supporting ongoing shareholder distributions alongside growth initiatives.
Mezzanine Investment Expands Capital Toolbox
Completed first mezzanine investment of $7 million for a 120k sq ft VA outpatient clinic in Kennewick, WA carrying an anticipated 12% yield and backed by a 20-year firm VA lease; management indicated potential allocation up to ~$30 million to similar mezzanine opportunities over the next 18 months.
Raised Low-End FY Guidance
Management raised the low end of full-year FFO guidance by $0.10 (to $3.60 on the low end as stated), reflecting confidence in the underlying performance and the impact of completed transactions during the quarter.
Significant Development & Acquisition Pipeline
Maintains a $1.5 billion pipeline (mix of federal, state/local, and government-adjacent projects split roughly in thirds). Key development deliveries expected: Fort Myers lab (2026), Flagstaff Courthouse (2027), Medford Courthouse (2027). Mid-year assumptions include $50M–$100M gross development-related investment and $50M of wholly-owned acquisitions.
Focus on Credit Quality and Investment Grade Aspiration
Portfolio generates an AA+ revenue stream and management is pursuing an investment grade rating targeted for 2027, emphasizing deleveraging, scale and continued stable cash flows as key enablers.
Disciplined Capital Allocation and Diversified Execution Toolbox
Management emphasized multiple value-creation tools—wholly owned acquisition, joint ventures, development, and mezzanine lending—targeting ~100 bps spread to cost of capital (defined target range 50–100 bps) and prioritizing accretion to core FFO per share.
DEA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DEA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 27, 2026 | $23.52 | $23.35 | -0.72% |
Feb 23, 2026 | $23.66 | $23.03 | -2.65% |
Oct 27, 2025 | $21.59 | $20.73 | -4.00% |
Aug 05, 2025 | $20.97 | $20.85 | -0.58% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Easterly Government Properties (DEA) report earnings?
Easterly Government Properties (DEA) is schdueled to report earning on Aug 04, 2026, Before Open (Confirmed).
What is Easterly Government Properties (DEA) earnings time?
Easterly Government Properties (DEA) earnings time is at Aug 04, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DEA EPS forecast?
DEA EPS forecast for the fiscal quarter 2026 (Q2) is 0.04.