DEA - Why Easterly Government Properties Stock Is Falling Today
2023-08-16 16:35:00 ET
Easterly Government Properties (NYSE: DEA) received a downgrade from Wall Street, reviving concerns about the commercial office property owner's ability to continue to fund its dividend. Shares of Easterly sagged as a result, falling by as much as 6% in Wednesday trading.
Easterly Government Properties (DEA), as the name implies, is a real estate investment trust (REIT) that is focused on leasing to U.S. government customers. REITs have been hit hard this year, and office REITs in particular, due to investor fears that a combination of rising interest rates and more flexible working arrangements post-pandemic would eat into margins.
Easterly is no exception, down 28% over the past year.
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Why Easterly Government Properties Stock Is Falling Today