Eastern Government Properties: Second Quarter Results Snapshot

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WASHINGTON (AP) _ Easterly Government Properties Inc. (DEA) on Tuesday released a key measure of profitability in its second quarter. The results match Wall Street’s expectations.

The Washington-based real estate investment trust said it had operating funds of $ 31.2 million, or 33 cents per share, during the period.

The average estimate of three analysts polled by Zacks Investment Research was for funds from transactions of 33 cents per share.

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


The company said it had net earnings of $ 8.2 million, or 10 cents per share.

The property management company reported sales of $ 68.6 million during the period, which exceeded Street’s forecast. Three analysts polled by Zacks expected $ 67.7 million.

Easterly Government Properties expects operating funds for the full year to be $ 1.30 to $ 1.32 per share.

The company’s shares have fallen about 1% year-to-date. The stock has fallen 8% in the past 12 months.

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

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