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Sep 30, 2022
Easterly Q3 2022 Earnings Report
Reported third quarter results, highlighted by strategic acquisitions and portfolio optimization through dispositions.
Key Takeaways
Easterly Government Properties reported net income of $0.7 million, or $0.01 per share, FFO of $32.4 million, or $0.32 per share, and FFO, as Adjusted of $33.3 million, or $0.32 per share. The company also acquired a VA outpatient facility in Columbus, Georgia and a U.S. District courthouse in Council Bluffs, Iowa.
Net income was $0.7 million, or $0.01 per share on a fully diluted basis.
FFO was $32.4 million, or $0.32 per share on a fully diluted basis.
FFO, as Adjusted was $33.3 million, or $0.32 per share on a fully diluted basis.
CAD was $28.5 million.
Forward Guidance
The Company is lowering its guidance for 2022 FFO per share on a fully diluted basis to a range of $1.26 - $1.28, related in part, to the Portfolio Disposition.
Positive Outlook
- No further acquisitions beyond the approximately $107.7 million of wholly owned acquisitions completed year to date.
- The closing of properties in the VA Portfolio totaling approximately $145.0 million at the Company’s pro rata share.
- The sale of the final property in the Disposition Portfolio.
- No additional material development related investment in 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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