Easterly Government PropertiesNYSE: DEA

WASHINGTON--(BUSINESS WIRE)--Easterly Government Properties, Inc. (NYSE: DEA) (the “Company” or “Easterly”), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, today announced it has executed a new $400 million revolving credit facility (the “Revolver”). The Revolver includes an accordion feature that allows the Company to request additional lender commitments of up to $.

Ruling removes potential complications for manufacturing, pre-clinical development, IND submission, clinical development, and ultimately commercialization. MIAMI , May 29, 2024 /PRNewswire/ -- MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) ("MIRA" or the "Company"), a pre-clinical-stage pharmaceutical company focused on the treatment of neurologic and neuropsychiatric disorders, announced that MIRA-55 , has been determined by the U.S. Drug Enforcement Administration (DEA) not to be a controlled substance or listed chemical under the Controlled Substance Act and its governing regulations.

Easterly Government Properties expects to achieve 2% FFO growth for 2024 and beyond, despite challenges in the economic environment. DEA is a REIT focused on acquiring and developing properties for the U.S. government, with a portfolio of 93 properties across 26 states. The company has potential for future growth through property acquisitions and has a solid balance sheet with manageable debt maturities.

Although the overall financial results of Easterly Government Properties (DEA) in the quarter ending March 2024 provide an indication of its performance, it may be beneficial to analyze how certain key metrics align with Wall Street projections and previous year's figures.

Easterly Government Properties (DEA) reported quarterly funds from operations (FFO) of $0.29 per share, surpassing the Zacks Consensus Estimate of $0.28 per share. This is slightly higher than the FFO of $0.29 per share reported in the same quarter last year.

Investors in the industry were concerned about the most recent inflation data. The Consumer Price Index rose more than anticipated in March, surpassing the February number.

Easterly Government Properties is a REIT focused on acquiring and developing properties leased to the U.S. government. The company has seen strong asset growth since its IPO in 2015, quadrupling leased square footage. DEA appears attractively valued with a 10.0x Fwd P/FFO and a 9.3% dividend yield.

The 20-year non-cancelable lease, slated to commence upon project completion, underscores Easterly's (DEA) recognized expertise in the specialized market of government property development.

Easterly Government Properties, Inc. (DEA) Q4 2023 Earnings Call Transcript