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DEA
Easterly Government Properties, Inc.NYSEReal EstateReit - OfficeSnapshot 2026-06-12
Intact
$24.04+0.50%
Close 2026-06-12 · 1-day change
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
The bottom line
Recent financial performance is neutral, while earnings quality is robust, cash backs up reported profits. Management's recent track record has been steady, and risk is moderate. The sector backdrop is a headwind, which may impact performance compared to sector peers, where DEA is typical. Peer multiples imply a price about 39% below where it trades (it looks expensive on this basis); the read is expensive, growth-justified, as it is rich on today's multiple, but the three-year horizon reads cheaper once expected earnings growth is included. This assessment is provisional.
as of 2026-06-12
Quick facts
- Exchange
- NYSE
- Sector
- Real Estate
- Industry
- Reit - Office
- Market cap
- $1.17B
- Employees
- —
- IPO date
- 2015-03-30
- Next earnings
- 2026-08-04
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 5 valuation methods, at three horizons. Current price $24.04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryexpensive
$17.25consensus
Range $6.73 – $40.39
vs price: +39% above
Method agreement — · 5 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearinexpensive
$48.23consensus
Range $47.15 – $49.32
vs price: -50% below
Method agreement — · 2 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Cheap vs peerslow confidence
At $24 DEA trades at 3× p/s, below its 6× p/s peer median. Our $17 fair value sits above the price; low confidence. Not investment advice.
Multiple (P/S)
3.1x
peer 5.6x · own history 3.7x
Premium
0.6x peer
0.8x its own history
Growth the price needs
39%
our forecast 9%
Our fair value
$17.25
range $7.22 – $43.54
WhyValuation methods disagreeEarnings too small for P/EPeer anchor overstates the discount
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
expensiveexpensive — growth-justified12-month view
What's priced inUnjustified
The market is pricing in roughly 39% near-term growth, well above our forecast of about 9%. This describes what's priced in, not a forecast of the move.
Low fragilityrisk posture, not a price call
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Historical context
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
neutralOperating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Real Estate names rated neutral grew net income 53% of the time over the next year (vs 57% for the rest of the cohort, n=1968).
58th pctl · Real Estate
Earnings quality
robustOver the trailing year it converted 23.34x of net income into operating cash flow. Historically, Real Estate names rated robust grew net income 59% of the time over the next year (vs 50% for the rest of the cohort, n=1399).
98th pctl · Real Estate
Macro sensitivity
Most sensitive to the broad stock market and real (inflation-adjusted) rates.
- the broad stock market: This stock moves with the broad market (high beta).
- real (inflation-adjusted) rates: This stock behaves like a long-duration asset — tends to fall when real rates rise.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, Fed net liquidity.
Earnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
2 analysts, 29% Buyfor period ending 2026-06-30
Why this setup
Consensus revisions
EPS estimate $0.00 → $0.06. 0 raised, 0 cut, 2 covering analysts.
Rating actions
0 upgrades, 0 downgrades / 30d. 29% of analysts rate Buy.
Sector context
Intermediate · WeeklySector phase: real estate is in maturing, with decelerating (~1.2 years in phase).
Sector regime (90d momentum): headwind.Secular epoch: Mature by revenue growth · theme sunbelt-migration.headwind
Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: neutralProvisional
- Capital allocation
- neutral
- Earnings discipline
- neutral
- Balance sheet
- neutral
- Post-call reaction
- strong
A guidance track record builds as the company issues and delivers on guidance.
as of 2026-06-12
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$76.
How much price usually moves either way.
On a bad day, this stock has moved -$217.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $1,123.
Deepest peak-to-trough drop in the last year.
moderateas of 2026-06-12
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- Either wayHigh confidenceMonthsactive 7d
Watch for earnings results on August 4, 2026
Why it matters: Earnings results give clues about the company's financial health. They show how well the company is doing.
What confirms / what disproves
Confirms one read:Earnings are over 5% higher than what analysts expected.
Confirms the other:Earnings fall short of analyst expectations by more than 5%.
Sector context
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for DEA yet.
This sector is also watching
- Watch for impact of upcoming economic reports on Real Estate
- Watch for revenue growth across major REITs to re-accelerate
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for DEA and other Real Estate names, since rate-sensitive parts of the market tend to rally when the Fed eases.
- If sector bellwethers like BXP, ARE, and VNO keep beating earnings and guiding higher, the Real Estate sector momentum should keep lifting DEA and other Real Estate names. Worth watching these names for early signals.
Downside triggers
- If DEA reverses and cuts guidance after recently raising (RAISED as of 2026-04-27), that's the worst kind of move: a credibility hit on top of the lower number. Stocks usually get punished disproportionately for this.
- If sector bellwethers like BXP, ARE, and VNO start missing or guiding lower, the Real Estate tailwind helping DEA and other Real Estate names could fade. Watch these names for early warning.
- If DEA misses again next quarter like this past one (a miss of -9% on the 2025-12-31 print), expect continued pressure. The Street usually keeps walking estimates down after consecutive misses.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-04-271mo agoItem 2.02
as well as the attached Exhibits 99.1 and 99.2 are being furnished and shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing. We will h…
Earnings preannouncement—
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
-2.0 vs last weeklatest as of 2026-06-13
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.