Key Highlights

  • 0.45 USD per share is the quarterly Dividend at Easterly Government Properties, Inc. (NYSE:DEA), payable on November 20, 2026, a calculated annualized USD 1.80 that sits well inside quarterly Core FFO of USD 0.78 per share.
  • 58% is the calculated Core FFO Payout Ratio of the USD 0.45 dividend against third-quarter Core FFO of USD 0.78 per share, which rose 2.6% from USD 0.76 and totaled USD 38.0 million.
  • 3.08 USD to USD 3.13 per share is the raised 2026 Core FFO guidance, up from USD 3.07 to USD 3.13, with initial 2027 guidance of USD 3.09 to USD 3.17 per share.
  • 86.5% of annualized Lease income comes from U.S. Government tenants across 10.7 million square feet, 98% leased, with a weighted average remaining lease term of 9.2 years at the government office REIT.

Dividend Profile: Yield, Payout and Distribution Record of Easterly Government Properties, Inc. (NYSE:DEA)

Easterly Government Properties, Inc. (NYSE:DEA) declared a quarterly dividend of USD 0.45 per share, payable on November 20, 2026. The calculated annualized dividend is USD 1.80 per share. Measured against the 2026 Core FFO guidance midpoint of USD 3.11, the calculated payout ratio is about 58%, and the same ratio holds against the 2027 midpoint of USD 3.13. Cash available for distribution was USD 32.8 million in the third quarter versus USD 29.3 million a year earlier. On roughly 48.7 million diluted shares, calculated from Core FFO of USD 38.0 million and USD 0.78 per share, the quarterly distribution is about USD 21.9 million, a calculated 67% of cash available for distribution.

The Rationale: Earnings, Cash Flow and Dividend Coverage at Easterly Government Properties, Inc. (NYSE:DEA)

Core FFO, a non-GAAP measure that excludes items such as Acquisition costs and non-recurring charges, is the coverage yardstick for the REIT. Third-quarter Revenue was USD 93.6 million, up 8.6% from USD 86.2 million. FFO was USD 38.5 million, or USD 0.79 per diluted share, versus USD 34.8 million, or USD 0.74. Net Income was USD 5.7 million, or USD 0.12 per diluted share. Net Operating Income was USD 65.7 million versus USD 60.5 million. Nine-month Core FFO reached USD 112.5 million versus USD 103.3 million, and revenue was USD 277.6 million.

Valuation, Balance Sheet and Risks for Easterly Government Properties, Inc. (NYSE:DEA)

The company owns 106 operating properties. Its Leverage target is 6.0 times to 6.75 times. During the quarter it repaid a USD 35.6 million construction Loan in full and extinguished a USD 6.4 million mortgage, and amended its Credit facilities to remove SOFR-related adjustments. Three wholly owned developments totaling 154,812 square feet are scheduled for completion from the fourth quarter of 2026 through the first half of 2028. The 2027 outlook assumes about USD 50 million of acquisitions and USD 25 million to USD 50 million of gross development investment. Risks include federal tenant concentration, lease renewal outcomes such as the FAA Chicago occupancy assumed through April 20, 2027, and refinancing costs.

Where Things Stand

Easterly Government Properties, Inc. (NYSE:DEA) pairs a dividend that is covered at a calculated 58% of Core FFO with a long lease profile, as 9.2 years of weighted average remaining lease term and 98% occupancy support cash flow visibility. Guidance moved the low end of 2026 Core FFO up by USD 0.01 to USD 3.08, and the first look at 2027 points to a midpoint of USD 3.13. Concentration in U.S. Government tenants, at 86.5% of annualized lease income, remains the central risk. The company has not provided a dividend growth commitment, and each declaration remains at board discretion.