Easterly Government Properties has missed or fallen short of earnings estimates in three of the past four quarters by an average of nearly 39%, and the stock already trades above the level implied by analyst price targets; however, a sharp upward revision in forward earnings estimates and strong free cash flow conversion relative to GAAP income suggest a potential inflection that the recent earnings record has not yet validated.
Thesis pillars
- Persistent Earnings Delivery Failure↑Improving
- Estimate Revision Momentum↑Improving
- Strong Cash Conversion Vs Gaap→Stable
- +1 more pillar — see the Why tab for full reasoning
Easterly Government Properties, (DEA) Stock Analysis
Real Estate · REIT - Office
Sell if holding. Analyst target reached at $25.33 — A.R:R is negative (-3.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: U.S. Government tenant agencies (88.1%).
Easterly Government Properties is an internally managed REIT that acquires, develops, and manages Class A properties leased to U.S. Government agencies, owning 93 wholly owned operating properties (10.4 million square feet, 97% leased) as of December 31, 2025. U.S. Government... Read more
Sell if holding. Analyst target reached at $25.33 — A.R:R is negative (-3.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: U.S. Government tenant agencies (88.1%). Chart setup: No clear chart pattern; technical signals are mixed. Score 5.4/10, moderate confidence.
Passes 4/8 gates (clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. Suitability: aggressive.
Recent developments
updated 2026-07-26Recent Developments — Easterly Government Properties,
Latest news
- NEWS Easterly Government Properties Announces Quarterly Dividend - marketscreener.com — marketscreener.com neutral
- NEWS Easterly (DEA) Q3 2024 Earnings Call Transcript - The Motley Fool — The Motley Fool neutral
- NEWS DEA says National Drug Take Back Day saves lives - WyomingNews.com — WyomingNews.com positive
- NEWS DEA (Easterly Gov) reports 11.3% Q4 2025 revenue growth, small EPS miss, shares barely move on mixed quarterly results. — Cổng thông tin điện tử tỉnh Lào Cai negative
- NEWS Can Easterly Government Properties (DEA) Climb 35.04% to Reach the Level Wall Street Analysts Expect? - MSN — MSN positive
Generated 2026-07-26T09:17:40Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHCustomerU.S. Government tenant agencies88%10-K Item 1: 'our U.S. Government tenant agencies accounted for 88.1% of our annualized lease income.'
- MEDIUMCustomerVA, FBI, and DEA (top three tenant agencies)47%10-K Item 1A: 'three of our U.S. Government tenant agencies, the Department of Veteran Affairs ("VA"), Federal Bureau of Investigation ("FBI"), and Drug Enforcement Administration ("DEA"), accounted for an aggregate of approximately 42.0% of our total leased square feet and an aggregate of approximately 47.3% of our total annualized lease income.'
- LOWGeographicCalifornia17%10-K Item 1A: 'Seventeen of our properties are located in California, accounting for approximately 13.3% of our total leased square feet and approximately 17.1% of our total annualized lease income'
Material Events(8-K, last 90d)
- 2026-04-24Item 5.02LOWAt the April 22, 2026 Annual Meeting, stockholders approved amending the 2024 Equity Incentive Plan to increase authorized shares from 1,440,000 to 4,315,000, an increase of 2,875,000 shares. Routine equity plan amendment; no departure or appointment.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $25.33 — A.R:R is negative (-3.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: U.S. Government tenant agencies (88.1%). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $24.39. Score 5.4/10, moderate confidence.
Take-profit target: $25.44 (-16.3% upside). Prior stop was $24.39. Stop-loss: $24.39.
Concentration risk — Customer: U.S. Government tenant agencies (88.1%); Analyst target reached - limited upside remaining; Near 52-week high (2.4% away).
Easterly Government Properties, trades at a P/E of 115.1 (forward 97.4). TrendMatrix value score: 4.6/10. Verdict: Sell.
11 analysts cover DEA with a consensus score of 3.5/5. Average price target: $24.
What does Easterly Government Properties, do?Easterly Government Properties is an internally managed REIT that acquires, develops, and manages Class A properties...
Easterly Government Properties is an internally managed REIT that acquires, develops, and manages Class A properties leased to U.S. Government agencies, owning 93 wholly owned operating properties (10.4 million square feet, 97% leased) as of December 31, 2025. U.S. Government tenants accounted for 88.1% of annualized lease income, with the VA, FBI, and DEA alone representing 47.3% of that income, and California properties contributing 17.1%.