Easterly Government Properties Q1 adjusted FFO meets estimates

Easterly Government Properties

27/04/2026 11:42

Overview

US government property REIT's Q1 adjusted FFO per share met analyst expectations

Q1 rental income rose to $88.6 mln, while net income and EPS declined yr/yr

Company raised lower end of 2026 Core FFO per share guidance

Outlook

Company raises lower end of 2026 Core FFO per share guidance to $3.06-$3.12

Guidance assumes $50 mln of acquisitions and $50-$100 mln in development investment during 2026

Result Drivers

PORTFOLIO EXPANSION - Co acquired a 297,713 sq ft campus near Richmond, Virginia, leased primarily to the Commonwealth of Virginia, with lease expirations ranging from 2027 to 2036

CAPITAL ALLOCATION STRATEGY - Co highlighted stable operating performance and execution of its first mezzanine construction loan investment as part of its approach to capital allocation and earnings growth, per CEO Darrell Crate

Company press release: ID:nBw1v14cSa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Rental Income
$88.59 mln
Q1 EPS
$0.03
Q1 Net Income
$1.41 mln
Q1 Adjusted FFO
$37.1 mln
Q1 Adjusted FFO Per Share
Meet
$0.77
$0.77 (6 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy."

Wall Street's median 12-month price target for Easterly Government Properties Inc is $23.50, about 0.1% above its April 24 closing price of $23.52

The stock recently traded at 49 times the next 12-month earnings vs. a P/E of 46 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)