Easterly Government Properties (DEA) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 05, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.09

Last Year’s EPS

0.07

Same Quarter Last Year

Analyst Consensus

Hold

Based on 2 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 23, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized durable, mission-critical portfolio characteristics, steady operational metrics (97% occupancy), and repeatable core FFO growth (nearly 6% Q4 and ~3% full-year) alongside active development progress and a disciplined acquisition strategy. Key near-term challenges include an elevated cash leverage ratio (7.5x) that management expects to reduce, and external uncertainty from federal budget/headline risks that could affect timing of opportunities. Management conveyed confidence in the pipeline and balance sheet actions to support continued execution.

Company Guidance

Management maintained 2026 full‑year core FFO per share guidance of $3.05–$3.12 (≈3% core FFO/share growth at the midpoint and consistent with the 2–3% annual target), with the midpoint driven by delivery of FDA Atlanta, renewal execution and efficiencies; guidance assumes $50M–$100M of gross development‑related investment and $50M of wholly‑owned acquisitions, and management cited a deal pipeline of roughly $1.0B–$1.5B. Recent operating and balance‑sheet metrics that underpin the outlook include Q4 cash available for distribution of $29.1M and full‑year CAD of $118.0M, Q4 core FFO/share of $0.77 (+~6% YoY) and FY core FFO/share of $2.99 (+~3% YoY), current cash leverage (net debt/annualized quarterly EBITDA) of 7.5x (expected to decline as reimbursements arrive) and a medium‑term leverage objective of ~6.0x. Additional datapoints discussed were a recent $44.5M, ~298k SF Virginia acquisition at a ~11% going‑in cash cap rate, development deliveries totaling ~200k rentable SF underway, FDA Atlanta reimbursements of $138.1M received (plus $12.6M more and ~ $3M expected), and renewal execution history of 38 leases covering ~2.6M SF with an average renewal rent spread of ~14%, weighted average renewal term of 15.7 years and estimated TI of $37.14/SF.

High Portfolio Occupancy and Lease Duration

Portfolio occupancy near historical highs at 97% and a weighted average lease term of roughly 10 years, supporting stable and predictable cash flows.

Quarterly and Full-Year Core FFO Growth

Core FFO per share grew nearly 6% year-over-year in Q4 to $0.77 and grew nearly 3% year-over-year for the full year to $2.99, demonstrating execution on the stated growth target.

2026 Core FFO Guidance

Maintained full-year 2026 core FFO per share guidance of $3.05 to $3.12, implying approximately 3% core FFO per share growth at the midpoint (above the stated 2%-3% target range midpoint).

Strong Cash Available for Distribution

Cash available for distribution of $29.1 million in Q4 and $118.0 million for the full year, reflecting steady operational performance.

Accretive Virginia Acquisition

Completed a three-asset acquisition in Virginia for $44.5 million (~298,000 RSF) with the Commonwealth of Virginia as the primary tenant, 2.5% annual rent escalations, a weighted average lease term of 7.5 years, and a going-in cash cap rate of ~11%; transaction described as immediately accretive to returns.

Development Pipeline Progress and Deliveries

Major development milestones include delivery of FDA Atlanta (completed Dec 15, 2025) with $138.1M in lump-sum reimbursements received as of 12/31/2025 (plus an additional $12.6M received subsequently and ~ $3M expected soon). Broke ground on State Crime Lab in Fort Myers (delivery targeted 2026); Flagstaff U.S. Courthouse under construction (delivery 2027); Medford U.S. Courthouse construction commenced (delivery 2027). Combined upcoming projects represent ~200,000 rentable square feet of high-credit cash flows.

Strong Renewal Execution

Since IPO, 38 leases renewed totaling ~2.6 million RSF; of these, 27 renewals required no tenant improvement (TI) or TI completed, 11 with pending TI. Excluding certain assets, average rent spread on renewals was ~14% with a weighted average renewal term of 15.7 years.

Pipeline and Acquisition Opportunity Set

Management cites an active acquisition and development pipeline (cited as approximately $1.0 billion) and a larger pipeline referenced in discussion, with the team focused on sourcing assets that provide spreads in excess of cost of capital.

Balance Sheet and Leverage Management

Cash leverage (net debt to annualized quarterly EBITDA) stands at 7.5x and management expects reimbursements and execution to drive improvement toward a medium-term objective of ~6x, supporting lower funding costs and potential investment grade positioning.

Disciplined Capital Allocation and Growth Philosophy

Company reiterates a repeatable strategy of 2%-3% core FFO per share annual growth, prioritizing mission-critical, high-credit tenancy, disciplined underwriting (targeting returns >100 bps above WACC), and selective development/acquisition to balance durability and growth.

Easterly Government Properties (DEA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DEA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 05, 2026	2026 (Q1)	0.09 / -	0.07	―	―	―
Feb 23, 2026	2025 (Q4)	0.10 / 0.10	0.125	-20.00% (-0.02)	―
Oct 27, 2025	2025 (Q3)	0.10 / 0.03	0.125	-76.00% (-0.10)
Aug 05, 2025	2025 (Q2)	0.12 / 0.09	0.1	-10.00% (-0.01)	―
Apr 29, 2025	2025 (Q1)	0.13 / 0.07	0.1	-30.00% (-0.03)	―
Feb 25, 2025	2024 (Q4)	0.13 / 0.13	0.1	25.00% (+0.02)	―
Nov 05, 2024	2024 (Q3)	0.13 / 0.13	0.15	-16.67% (-0.02)	―
Jul 31, 2024	2024 (Q2)	0.13 / 0.10	0.125	-20.00% (-0.02)	―
Apr 30, 2024	2024 (Q1)	0.14 / 0.10	0.1	0.00% (0.00)	―
Feb 27, 2024	2023 (Q4)	0.16 / 0.10	0.45	-77.78% (-0.35)	―

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
Feb 23, 2026	$24.13	$23.49	-2.65%
Oct 27, 2025	$22.02	$21.14	-4.00%
Aug 05, 2025	$21.38	$21.26	-0.56%
Apr 29, 2025	$19.63	$18.80	-4.23%

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 Inc. (DEA) report earnings?

Easterly Government Properties Inc. (DEA) is schdueled to report earning on May 05, 2026, Before Open (Confirmed).

What is Easterly Government Properties Inc. (DEA) earnings time?

Easterly Government Properties Inc. (DEA) earnings time is at May 05, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is DEA EPS forecast?

DEA EPS forecast for the fiscal quarter 2026 (Q1) is 0.09.