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Mar 31, 2024
Easterly Q1 2024 Earnings Report
Reported results for the quarter ended March 31, 2024.
Key Takeaways
Easterly Government Properties reported a net income of $4.9 million, or $0.05 per share, and Core FFO of $30.8 million, or $0.29 per share, for the quarter ended March 31, 2024. The company maintained its full-year 2024 Core FFO per share guidance at a range of $1.14 - $1.16.
Net income of $4.9 million, or $0.05 per share on a fully diluted basis.
Core FFO of $30.8 million, or $0.29 per share on a fully diluted basis.
Received an investment grade issuer credit rating from Kroll Bond Rating Agency, LLC of BBB with Stable Outlook.
Extended the maturity date of the Company's $100 million unsecured term loan executed in 2016 to January 30, 2025.
Revenue by Segment
Forward Guidance
The Company is maintaining its guidance for full-year 2024 Core FFO per share on a fully diluted basis at a range of $1.14 - $1.16.
Positive Outlook
- Closing of VA - Jacksonville through the JV at the Company’s pro rata share of approximately $41 million.
- $100 - $110 million of gross development-related investment during 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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