DEA - Here's How Easterly Government Properties Can Afford Its 7.3% Dividend Yield
2023-06-19 08:12:00 ET
All tenants are not created equal, which is the big story when you consider Easterly Government Properties (NYSE: DEA) and its sizable 7.3% dividend yield. The real estate investment trust (REIT) operates in the office niche, a property type that has seen many dividend cuts. But Easterly's tenants are a bit different than most, and that could make all the difference on the dividend front.
The social distancing and work-from-home trends that arose during the early days of the coronavirus pandemic have wreaked havoc on the office sector. Some of the largest, best-known office REITs have been forced to cut their dividends, including SL Green and Vornado . Easterly hasn't followed suit.
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Here's How Easterly Government Properties Can Afford Its 7.3% Dividend Yield