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Net-lease REIT that develops and owns buildings leased almost entirely to US federal government agencies.
Net-lease REIT that develops and owns buildings leased almost entirely to US federal government agencies.
Rent comes almost entirely from federal agencies, paid by the US government under long leases, so credit risk is low but growth depends on finding or building new agency space and on leases being renewed. Buildings are often mission-specific, such as clinics, labs and field offices. Internally managed, it went public in 2015.
Moat: narrow (regulatory licence, switching costs). Long government leases and mission-specific buildouts make relocating tenants costly.
Headquarters: Washington, DC, US · Founded: 2015 · Employees: 55
Size Easterly Government Properties (DEA) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $1.06B, the 2209th largest of 3,117 United States companies the cockpit tracks. Shares closed at $22.48 on 6 Nov 2026.
Performance Over six months the shares fell 3.7%, against -15.3% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 11.4% over the last twelve months (peer median +1.2%); the operating margin is 23.9% (peer median 45.6%).
Valuation It trades at 0.82× book value against a peer median of 0.80× (10th most expensive of 21).
Price implies The share price implies a return on equity of about 8.6%; Easterly Government Properties delivers 1.0%, so the price asks more than the business earns today.
Short interest Short interest is 4.0% of the free float (15 Oct 2026).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $365M | $336M | $302M | $287M | $294M |
| Revenue growth | — | +11% | +5% | -2% | — |
| Gross profit | $120M | $111M | $105M | $93.5M | $97.7M |
| EBITDA | $213M | $198M | $173M | $156M | $170M |
| Net income | $13.6M | $12.3M | $19.0M | $18.2M | $30.9M |
| Free cash flow | $164M | $259M | $165M | $115M | $127M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $1.69B | $1.68B | $1.62B | $1.31B | $1.27B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Easterly Government Properties DEA | $1.06B | -4% | +11% | 1% | 0.82× | 8.6% |
| Postal Realty Trust PSTL | $863M | -5% | +22% | 5% | 1.82× | 13.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DEA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | -1.1% | 5th lowest of 21 |
| 6-month return | -3.7% | -15.3% | 4th highest of 21 |
| Return on equity | 1.0% | 6.1% | 4th lowest of 20 |
| Price / book | 0.82× | 0.80× | 10th most expensive of 21 |
| Trailing P/E | 76.4× | 12.5× | 3rd most expensive of 18 |
| ROE the price implies | 8.6% | 5.7% | 6th most demanding of 21 |
| ROE delivered | 1.0% | 6.1% | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Easterly Government Properties DEA | United States | $1.06B | -4% | +11% | 1% | 0.82× | 8.6% | 1.0% |
| NTT UD REIT Investment 8956.T | Japan | $1.06B | -16% | +14% | 6% | 1.15× | 4.8% | 6.1% |
| Altareit AREIT.PA | France | $1.06B | -9% | -20% | -5% | 1.38× | 7.7% | -5.4% |
| Heiwa Real Estate REIT 8966.T | Japan | $1.06B | -15% | +24% | 8% | 1.15× | 5.5% | 8.4% |
| Waypoint REIT WPR.AX | Australia | $1.05B | -2% | -1% | 7% | 0.80× | 8.8% | 6.8% |
| Storage King SKG.AX | Australia | $1.05B | -17% | 0% | 7% | 0.64× | 7.8% | 6.5% |
| Medical Properties Trust MPT | United States | $1.08B | -65% | +11% | 5% | 0.23× | 5.2% | 5.3% |
| SK REIT 395400.KS | South Korea | $1.04B | -30% | +15% | 6% | 0.73× | 4.8% | 5.7% |
| Japan Excellent 8987.T | Japan | $1.04B | -13% | -18% | 6% | 1.09× | 4.6% | 6.0% |
| Growthpoint Properties Australia GOZ.AX | Australia | $1.09B | -2% | 0% | 4% | 0.69× | 8.7% | 3.9% |
| TOKYU REIT 8957.T | Japan | $1.10B | -6% | +10% | 9% | 1.37× | 5.2% | 8.6% |
| CapitaLand India Trust CY6U.SI | Singapore | $1.03B | -15% | -2% | 16% | 0.71× | 5.0% | 15.7% |
| National Healthcare Properties NHP | United States | $1.11B | +8% | -1% | -5% | 1.05× | 16.3% | -5.3% |
| Ladder Capital LADR | United States | $1.12B | -13% | +2% | 7% | 0.77× | 8.3% | 6.7% |
| Cpi Fim OPG.WA | Poland | $1.00B | -16% | -35% | 11% | 0.58× | 5.9% | 11.1% |
| Ho Bee Land H13.SI | Singapore | $978M | -13% | +5% | 3% | 0.33× | 2.6% | 2.7% |
| Centerspace CSR | United States | $963M | -15% | +15% | 12% | 1.21× | 10.3% | 11.7% |
| Wereldhave WHA.AS | Netherlands | $956M | -15% | +10% | 6% | 0.79× | 6.0% | 6.3% |
| Ntt Dc REIT NTDU.SI | Singapore | $955M | -9% | -8% | n/a | 0.80× | 3.1% | n/a |
| Orchid Island Capital ORC | United States | $953M | -30% | +83% | -1% | 0.82× | 11.3% | -0.6% |
| Mitsubishi Estate Logistics REIT Investment 3481.T | Japan | $952M | -17% | -4% | 5% | 0.96× | 4.4% | 5.2% |