Jefferies Starts Easterly Government Properties (DEA) at Buy
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Jefferies initiates coverage on Easterly Government Properties (NYSE: DEA) with a Buy rating and a price target of $22.00.
Analyst Jonathan Petersen commented, "We expect DEA’s focus on a specific subset of federal government leased properties will result in more stable and predictable earnings, relative to Office REIT peers. Growth is driven through acquisitions in a niche market with a total value of $20B. Finally, given the counter-cyclical nature of government expansion, DEA should improve risk-adjusted returns in a diversified REIT portfolio. Jefferies was book manager in DEA's June 2016 equity offering."
Shares of Easterly Government Properties closed at $18.40 yesterday.
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