Easterly Government Properties Downgraded Post-Q2 Results: Analyst Foresees Limited Growth Ahead
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Michael Carroll has downgraded Easterly Government Properties Inc (NYSE:DEA) to Underperform from Sector Perform, lowering the price target from $15 to $13. This follows Q2 results where the company reported revenue of $71.4 million, beating the consensus of $70.6 million. However, the analyst expects DEA's earnings run-rate to be modestly lower due to the rollover of interest rate swaps that will further weigh the dividend. The company's shares are trading lower by 3.9% at $13.66.
August 16, 2023 | 6:10 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Easterly Government Properties Inc (NYSE:DEA) has been downgraded by RBC Capital Markets due to expectations of limited growth. The company's shares are currently trading lower.
The downgrade by RBC Capital Markets is based on the expectation of limited growth for DEA. This negative outlook is likely to impact investor sentiment, leading to a decrease in the company's stock price. The company's shares are already trading lower, which indicates the market's reaction to this news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100