Easterly Government Properties, Inc. (DEA)

NYSEReal EstateReit - OfficeSnapshot 2026-10-23

$22.67+0.44%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Easterly Government Properties, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	91.68M
EPS	—	0.07
FY 2026 · Annual
Revenue	—	364.53M
EPS	—	0.23
Core ffo per share	$3.07–$3.13	—
FFO per share	$3.05–$3.11	—
FY 2027 · Annual
Revenue	—	372.57M
EPS	—	0.305

What the Thesis Depends On

5 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Maintain $200 million term loan facility to support liquidity	It added a $200 million loan to support growth.	Intact	Loan facility reduced below $150 million or liquidity weakens	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Newly stated in 2026-Q2. Management closed a $200 million five-year senior unsecured term loan facility with an accordion feature up to $250 million to repay revolving credit borrowings and support growth. This transaction enhances liquidity and capital structure, consistent with stated priorities but only recently executed. Delivery assessment Oct 24, 2026
Core FFO per share at or above $3.06 in 2026	It raised 2026 Core FFO guidance to $3.06 per share.	Intact	Core FFO per share falls below $3.00 in 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Management raised 2026 Core FFO per share guidance from $3.05-$3.12 in 2025-Q3 to $3.07-$3.13 in 2026-Q2. This upward revision aligns with reported Core FFO of $74.5 million for first half 2026, indicating delivery consistent with guidance increases. Delivery assessment Oct 24, 2026
Quarterly dividend maintained at $0.45 per share	The company keeps paying a $0.45 quarterly dividend.	Intact	Dividend per share falls below $0.45 per quarter	Dividend per share: $0.45 per share FY2026-Q2; GAAP. Published target: >=0.45 USD per share per quarter. Target period is not explicitly aligned with this observation. Source published Aug 3, 20260.45 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 0ebc54e6-eed0-4825-b0e4-b442e96011b0. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Management stated maintaining a quarterly dividend of $0.45 per share in 5 consecutive quarters from 2025-Q2 through 2026-Q2. This consistent dividend payout aligns with stable cash from operating activities ranging from $24.6 million to $41.9 million per quarter, indicating delivery on this capital allocation priority. Delivery assessment Oct 24, 2026
Cash from operating activities near or above $27 million quarterly	A supporting condition in Easterly Government Properties, Inc.'s published investment case. The stated target is >=27 million USD per quarter.	Intact	Operating cash flow falls below $25 million per quarter	Cash from operations: $44.581M FY2026-Q2; GAAP. Published target: >=27 million USD per quarter. Target period is not explicitly aligned with this observation. Source published Aug 3, 202644,581,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
At least $50 million in acquisitions and $50 million in developments in 2026	A supporting condition in Easterly Government Properties, Inc.'s published investment case. The stated target is >=50 million USD acquisitions and >=50 million USD developments.	Intact	Acquisitions and developments fall below $50 million each in 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 4 quarters. Management completed acquisitions including a 297,713 sq ft campus in 2026-Q1 and three properties for $169.9 million in 2025-Q4. Development projects in Fort Myers, Flagstaff, and Medford are underway. Portfolio size increased from approximately 10.4 million sq ft in 2025-Q4 to 10.7 million sq ft in 2026-Q2, indicating delivery consistent with stated growth plans. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenueUnavailable

Unavailable → Unavailable · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	1 / 3
2026-07-25	Unavailable	$377,668,000	1 / 5
2026-07-26	Unavailable	$377,668,000	1 / 5
2026-07-27	Unavailable	$377,668,000	1 / 5
2026-07-28	Unavailable	$377,668,000	1 / 5
2026-07-29	Unavailable	Unavailable	1 / 3
2026-07-30	Unavailable	$377,668,000	1 / 5
2026-07-31	Unavailable	Unavailable	1 / 3
2026-08-01	Unavailable	Unavailable	1 / 3
2026-08-02	Unavailable	$377,668,000	1 / 5
2026-08-03	Unavailable	$377,668,000	1 / 5
2026-08-04	Unavailable	$379,487,670	2 / 6
2026-08-05	Unavailable	$379,487,670	2 / 6
2026-08-06	Unavailable	Unavailable	1 / 4
2026-08-07	Unavailable	Unavailable	2 / 4
2026-08-08	Unavailable	$379,487,670	2 / 6
2026-08-09	Unavailable	$379,487,670	2 / 6
2026-08-10	Unavailable	$379,487,670	2 / 6
2026-08-11	Unavailable	Unavailable	2 / 4
2026-08-12	Unavailable	Unavailable	2 / 4
2026-08-13	Unavailable	$379,487,670	2 / 6
2026-08-14	Unavailable	Unavailable	2 / 4
2026-08-15	Unavailable	Unavailable	2 / 4
2026-08-16	Unavailable	Unavailable	2 / 4
2026-08-17	Unavailable	Unavailable	2 / 4
2026-08-18	Unavailable	Unavailable	2 / 4
2026-08-19	Unavailable	Unavailable	2 / 4
2026-08-20	Unavailable	Unavailable	2 / 4
2026-08-21	Unavailable	Unavailable	2 / 4
2026-08-22	Unavailable	Unavailable	2 / 4
2026-08-23	Unavailable	Unavailable	2 / 4
2026-08-24	Unavailable	Unavailable	2 / 4
2026-08-25	Unavailable	Unavailable	2 / 4
2026-08-26	Unavailable	Unavailable	2 / 4
2026-08-27	Unavailable	Unavailable	2 / 4
2026-08-28	Unavailable	Unavailable	2 / 4
2026-08-29	Unavailable	Unavailable	2 / 4
2026-08-30	Unavailable	Unavailable	2 / 4
2026-08-31	Unavailable	Unavailable	2 / 4
2026-09-01	Unavailable	Unavailable	2 / 4
2026-09-02	Unavailable	Unavailable	2 / 4
2026-09-03	Unavailable	Unavailable	2 / 4
2026-09-04	Unavailable	Unavailable	2 / 4
2026-09-05	Unavailable	Unavailable	2 / 4
2026-09-06	Unavailable	Unavailable	2 / 4
2026-09-07	Unavailable	Unavailable	2 / 4
2026-09-08	Unavailable	Unavailable	2 / 4
2026-09-09	Unavailable	Unavailable	2 / 4
2026-09-10	Unavailable	Unavailable	2 / 4
2026-09-11	Unavailable	Unavailable	2 / 4
2026-09-12	Unavailable	Unavailable	2 / 4
2026-09-13	Unavailable	Unavailable	2 / 4
2026-09-14	Unavailable	Unavailable	2 / 4
2026-09-15	Unavailable	Unavailable	2 / 4
2026-09-16	Unavailable	Unavailable	2 / 4
2026-09-17	Unavailable	Unavailable	2 / 4
2026-09-18	Unavailable	Unavailable	2 / 4
2026-09-19	Unavailable	Unavailable	2 / 4
2026-09-20	Unavailable	Unavailable	2 / 4
2026-09-21	Unavailable	Unavailable	2 / 4
2026-09-22	Unavailable	Unavailable	2 / 4
2026-09-23	Unavailable	Unavailable	2 / 4
2026-09-24	Unavailable	Unavailable	2 / 4
2026-09-25	Unavailable	Unavailable	2 / 4
2026-09-26	Unavailable	Unavailable	2 / 4
2026-09-27	Unavailable	Unavailable	2 / 4
2026-09-28	Unavailable	Unavailable	2 / 4
2026-09-29	Unavailable	Unavailable	2 / 4
2026-09-30	Unavailable	Unavailable	2 / 4
2026-10-01	Unavailable	Unavailable	2 / 4
2026-10-02	Unavailable	Unavailable	2 / 4
2026-10-03	Unavailable	Unavailable	2 / 4
2026-10-04	Unavailable	Unavailable	2 / 4
2026-10-05	Unavailable	Unavailable	2 / 4
2026-10-06	Unavailable	Unavailable	2 / 4
2026-10-07	Unavailable	Unavailable	2 / 4
2026-10-08	Unavailable	Unavailable	2 / 4
2026-10-09	Unavailable	Unavailable	2 / 4
2026-10-10	Unavailable	Unavailable	2 / 4
2026-10-11	Unavailable	Unavailable	2 / 4
2026-10-12	Unavailable	Unavailable	2 / 4
2026-10-13	Unavailable	Unavailable	2 / 4
2026-10-14	Unavailable	Unavailable	1 / 3
2026-10-15	Unavailable	Unavailable	1 / 3
2026-10-16	Unavailable	Unavailable	1 / 3
2026-10-17	Unavailable	Unavailable	1 / 3
2026-10-18	Unavailable	Unavailable	1 / 3
2026-10-19	Unavailable	Unavailable	1 / 3
2026-10-20	Unavailable	Unavailable	1 / 3
2026-10-21	Unavailable	Unavailable	1 / 3
2026-10-22	Unavailable	Unavailable	1 / 3
2026-10-23	Unavailable	Unavailable	1 / 3
2026-10-24	Unavailable	Unavailable	1 / 3

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	2	4	1
2026-06-01	2	4	1
2026-07-01	2	4	1
2026-08-01	2	4	1
2026-09-01	2	4	1
2026-10-01	2	4	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 2 Buy / Strong Buy · 4 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Maintain $200 million term loan facility to support liquidityDirect metric needs a verified mapping
Core FFO per share at or above $3.06 in 2026Direct metric needs a verified mapping
Quarterly dividend maintained at $0.45 per shareDividend per share: $0.45 per share
Cash from operating activities near or above $27 million quarterlyCash from operations: $44.581M
At least $50 million in acquisitions and $50 million in developments in 2026Direct metric needs a verified mapping

Next proof point

Oct 26, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

5 of 5 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

0.7%Typical daily move · historical

Downside history

-16.2%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Easterly Government Properties, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

DEA is a real estate company with a multi-year view based on steady cash generation and gradual portfolio growth. Its thesis state is intact, and company quality has improved, though recent financial performance is neutral and management execution is mixed.

What's priced into Easterly Government Properties, Inc.

The valuation evidence is mixed: DEA is described as cheap versus peers, but also carries a sizable premium to peers and is rated expensive overall. The priced-in tag is justified, with low fragility, but expectations-gap evidence is limited and does not point to a clear cushion if results disappoint.

What the fundamentals likely do

Near term, earnings delivery is the main concern: DEA recently missed earnings and has a run of consecutive misses, while the estimated risk of another miss is elevated. For the multi-year thesis, first-half Core FFO was consistent with raised guidance, the portfolio expanded, and operating cash supported a steady quarterly dividend, though these priorities are marked mixed.

What Easterly Government Properties, Inc. hinges on

The thesis depends on DEA sustaining its raised 2026 Core FFO guidance and avoiding a reversal that could hurt management credibility. Rate cuts and continued strength from real estate peers could support the sector backdrop, while another earnings miss would add to near-term execution concerns.