Easterly Government Properties Inc. ( (DEA) ) has released its Q4 earnings. Here is a breakdown of the information Easterly Government Properties Inc. presented to its investors.
Easterly Government Properties, Inc. is a real estate investment trust (REIT) specializing in the acquisition, development, and management of Class A commercial properties leased to the U.S. Government and its partners. The company is known for its focus on mission-critical facilities for government agencies.
In its fourth quarter 2024 earnings report, Easterly Government Properties reported a net income of $5.7 million, or $0.05 per share, and a Core Funds From Operations (Core FFO) of $32.6 million, or $0.29 per share. The company also highlighted several strategic acquisitions and developments, including facilities leased to Northrop Grumman and the IRS.
Key financial metrics for the year included a net income of $20.6 million and a Core FFO of $126.9 million. The company expanded its portfolio with acquisitions totaling approximately $230 million and secured a new $400 million revolving credit facility. Easterly also maintained a stable investment-grade credit rating and achieved a 4% reduction in energy consumption across its portfolio.
Easterly’s management expressed satisfaction with the company’s portfolio positioning and emphasized its commitment to delivering essential facilities to government agencies. The company plans to continue its strategy of acquiring mission-critical properties leased to both government entities and private sector contractors.
Looking ahead, Easterly Government Properties has raised its guidance for 2025, expecting Core FFO per share to range between $1.18 and $1.21. The company anticipates continued growth through acquisitions and development investments, reinforcing its role as a key player in the government-leased real estate sector.
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