Boenning & Scattergood analyst Merrill Ross maintained a Buy rating on Easterly Government Properties (DEA) today. The company’s shares opened today at $17.91.
Ross noted:
“We believe that Easterly can access capital to make accretive acquisitions or to opportunistically develop non-speculative properties built to suit agencies such as the Drug Enforcement Agency (DEA) and the Agency (FEMA) that have enduring missions. Easterly is now on track to deliver a high-yielding, built-to-suit property about every nine months going through to 2020, and we believe the pace of deliveries could have some upside where it could deliver two properties in 2020 because the balance sheet now has the scale to support $175 million of development (which is limited, by the company’s business plan, to 10% of the cost of the portfolio). Development of these specialized properties is very accretive on delivery.”
According to TipRanks.com, Ross is a 1-star analyst with an average return of -0.4% and a 51.7% success rate. Ross covers the Financial sector, focusing on stocks such as Essential Properties Realty Trust Inc, Pennsylvania Real Estate Investment, and Monmouth Real Estate Investment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Easterly Government Properties with a $20.33 average price target, a 13.5% upside from current levels. In a report released today, Raymond James also maintained a Buy rating on the stock with a $19 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $21.49 and a one-year low of $15.16. Currently, Easterly Government Properties has an average volume of 416.3K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Easterly Government Properties, Inc.is a real estate investment trust, which engages in the acquisition, development, and management of commercial properties that are leased to U.S. Government agencies. The company was founded October 9, 2014 and is headquartered in Washington, DC.
