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Jun 30, 2021
Easterly Q2 2021 Earnings Report
Reported results for the quarter ended June 30, 2021.
Key Takeaways
Easterly Government Properties reported a net income of $9.3 million, or $0.10 per share on a fully diluted basis, and FFO of $31.2 million, or $0.33 per share on a fully diluted basis for the quarter ended June 30, 2021. The company also announced an increase in its earnings guidance for 2021 FFO per share on a fully diluted basis to a range of $1.30 - $1.32.
Net income of $9.3 million, or $0.10 per share on a fully diluted basis
FFO of $31.2 million, or $0.33 per share on a fully diluted basis
FFO, as Adjusted of $29.2 million, or $0.31 per share on a fully diluted basis
CAD of $23.2 million
Revenue by Segment
Forward Guidance
The Company is maintaining its guidance for 2021 FFO per share on a fully diluted basis, as increased by the Company on June 30, 2021, in a range of $1.30 - $1.32. This guidance assumes $300.0 million of acquisitions and up to $25.0 million of gross development-related investment during 2021.
Positive Outlook
- Maintaining FFO per share guidance of $1.30 - $1.32.
- Anticipating $300 million in acquisitions.
- Expecting up to $25 million in gross development-related investment.
- The company's management team has specialized insight into the strategy and needs of mission-critical U.S. Government agencies.
- The company focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government.
Challenges Ahead
- Actual results may differ materially from this guidance.
- Risks associated with dependence on the U.S. Government and its agencies for substantially all of revenues.
- Risks associated with ownership and development of real estate.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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