Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The market is viewed as a place where stocks are always available at a discount, emphasizing a defensive investment strategy with a medium- to long-term horizon [2] Group 2 - The article expresses a beneficial long position in the shares of Easterly Government Properties (DEA), indicating confidence in the stock's performance [3] - The content is intended for informational purposes and does not constitute financial advice, encouraging readers to conduct their own due diligence [4]

Core Points - V2X, Inc. has been awarded a $170 million contract to support the DEA's fleet of over 100 aircraft, reinforcing its commitment to the war on drugs and national security [1][2] - The five-year contract ensures continued operational readiness for the DEA's aircraft fleet, highlighting V2X's long-standing support since 1997 [2] - V2X integrates innovative solutions across national security, defense, civilian, and international markets, employing approximately 16,000 professionals [3] Company Commitment - V2X demonstrates a complete understanding of the DEA's mission and the flexibility required for special mission aircraft and pilot development [2] - The company aims to enhance mission success by leveraging AI and machine learning capabilities to address operational challenges [3] Operational Impact - The contract reflects the trust placed in V2X to deliver high-impact solutions that empower the DEA in combating drug trafficking [2] - V2X's innovative solutions are designed to optimize resource management and boost security across all operational domains [3]

Core Viewpoint - Easterly Government Properties, Inc. (DEA) is undervalued with a current enterprise value of $2.825 billion against $3.389 billion in rent owed by the U.S. Government, presenting a favorable risk/reward outlook for investors [1][2]. Group 1: Valuation and Market Performance - DEA's stock has significantly declined from a trading multiple of 20X funds from operations (FFO) five years ago to a current multiple of approximately 10X, with the stock price dropping from the mid-$20s to $11.77 [4][6]. - The decline in DEA's stock price is attributed to its classification as an office REIT, which has faced challenges in the post-pandemic environment, despite DEA's fundamentals remaining strong [7][10]. Group 2: Dividend Yield and Financial Health - DEA offers a 9% dividend yield, which is perceived as high risk due to a cash available for distribution (CAD) payout ratio exceeding 100% [31][32]. - The company reported quarterly dividends of 26.5 cents per share, totaling $28.7 million, with core FFO of $32.2 million covering dividends but not CAD of $25.1 million [34][36]. Group 3: Growth Outlook and Risks - DEA's growth outlook includes a return to FFO/share growth in 2024 and strong guidance for 2025, with projected core FFO in the range of $1.17 to $1.21 [15][29]. - The Department of Government Efficiency (DOGE) initiative poses a risk to DEA, as it may lead to reduced demand for government-leased properties, although the impact is expected to be minimal [16][23][29]. Group 4: Property Quality and Tenant Credit - DEA's properties are characterized by high quality and long lease terms, with a weighted average remaining lease term greater than 10 years, which provides stability against potential government spending cuts [25][28]. - Nearly 100% of DEA's tenants have the highest credit rating, primarily from the U.S. Government, enhancing the reliability of its revenue stream [28][29]. Group 5: Future Projections and Value Proposition - The company anticipates achieving full CAD coverage of its current dividend level within 24 months through rent escalators and accretive acquisitions [37][38]. - DEA is viewed as a classic value stock, trading at multiples appropriate for a high-risk company, but with fundamentals suggesting a potential for significant stock appreciation, estimated at roughly 50% above current prices [27][44].

Group 1 - The article emphasizes a quality over quantity investment approach, focusing on long-term holdings in high-quality stocks [1] - The author aims to assist lower and middle-class workers in building investment portfolios centered around high-quality, dividend-paying companies [1] - The investment strategy includes a plan to supplement retirement income through dividends within the next 5-7 years [1] Group 2 - The article does not disclose any current stock or derivative positions in the companies mentioned, nor does it plan to initiate any within the next 72 hours [2] - The opinions expressed in the article are solely those of the author and do not reflect the views of Seeking Alpha as a whole [3]

Easterly Government Properties (DEA) recently announced the acquisition of the 100,000- square-foot Internal Revenue Service industrial facility in Ogden, UT. The move comes as part of the company’s acquisition efforts, and following this property buyout, Easterly owns, directly or through its joint venture, 97 properties aggregating 9.5 million square feet.Fully leased to the General Services Administration for the beneficial use of the IRS, this facility is home to mission-critical operations related to t ...

Core Insights - The iREIT®+HOYA Capital investing group focuses on income-oriented alternatives such as REITs, BDCs, MLPs, and Preferreds, leveraging a team with over 100 years of combined experience [2] - Brad Thomas, a key figure in the group, has extensive real estate investing experience, having been involved in over $1 billion in commercial real estate transactions [3] Group 1 - iREIT® Tracker provides comprehensive data on over 250 tickers, including quality scores, buy targets, and trim targets, aimed at enhancing investment research [1] - The team includes diverse professionals, such as a former hedge fund manager and a military veteran, indicating a broad range of expertise [2] Group 2 - Brad Thomas has been featured in prominent media outlets like Barron's and Bloomberg, highlighting his credibility and influence in the real estate investment sector [3]

$ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36834 EASTERLY GOVERNMENT PROPERTIES, INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 47-2047728 (State of Inco ...

Easterly Government Properties, Inc. (NYSE:DEA) Q3 2024 Earnings Conference Call November 5, 2024 11:00 AM ET Company Participants Lindsay Winterhalter - SVP, IR Darrell Crate - President & CEO Allison Marino - CFO Conference Call Participants Michael Griffin - Citi Peter Abramowitz - Jefferies Aditi Balachandran - RBC Capital Markets Michael Lewis - Truist Securities Operator Greetings. Welcome to the Easterly Government Properties Third Quarter 2024 Earnings Conference Call. At this time, all participants ...

Easterly Government Properties (DEA) came out with quarterly funds from operations (FFO) of $0.30 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to FFO of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 3.45%. A quarter ago, it was expected that this property management company would post FFO of $0.29 per share when it actually produced FFO of $0.29, delivering no surprise.Over the last four ...

Properties Inc. overnment Supplemental Information Package Third Quarter 2024 Exhibit 99.2 Disclaimers Forward-looking Statement We make statements in this Supplemental Information Package that are considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which are usually identified by the use of words such as "anticipates," "believes," " ...