Easter Government Properties: Third Quarter Earnings Overview


WASHINGTON (AP) _ Easterly Government Properties Inc. (DEA) announced a key measure of its third-quarter profitability on Tuesday. The results were below Wall Street expectations.

The Washington-based real estate investment trust said it had operating funds of $32.4 million, or 32 cents per share, during the period.

The average estimate of three analysts polled by Zacks Investment Research was for funds from operations 34 cents per share.

Funds from operations is a closely watched metric in the REIT industry. It takes net income and adds items such as depreciation and amortization.

The company said it had net income of $642,000, or 1 cent per share.

The property management company posted revenue of $75 million during the period, also below Street’s forecast. Three analysts interviewed by Zacks expected $77 million.

Easterly Government Properties expects operating funds for the full year to be $1.26 to $1.28 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DEA at https://www.zacks.com/ap/DEA

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