Easterly Government Properties price target lowered to $13 from $14 at Truist

Truist analyst Michael Lewis lowered the firm’s price target on Easterly Government Properties (DEA) to $13 from $14 and keeps a Hold rating on the shares. The firm is making relatively small adjustments to its model, noting that its revised price target still implies an 18% potential total return, including an 8.9% yield from a dividend that appears likely to approximate the company’s 2025 cashflow. That implied return suggests this may be an opportunity, but Truist is essentially waiting on more information regarding the new Department of Government Efficiency and if it might impact the stock, the analyst tells investors in a research note.