Easterly Government Properties Reports Third Quarter 2025 Results

Easterly Government Properties, Inc., a fully integrated real estate investment trust (REIT) focused on the acquisition, development, and management of Class A commercial properties leased to the U.S. Government, has released its financial results for the third quarter of 2025.

Financial Highlights

For the quarter ended September 30, 2025, Easterly Government Properties reported a net income of $1.2 million, or $0.03 per share on a fully diluted basis. Core Funds From Operations (Core FFO) stood at $35.6 million, or $0.76 per share on a fully diluted basis. The company also reported total revenues of $86.2 million, reflecting a significant increase from the $74.8 million reported in the same period last year.

Business and Operational Highlights

During the quarter, Easterly acquired land to develop a 64,000 square foot laboratory in Fort Myers, Florida, with a 25-year non-cancelable lease. Additionally, the company acquired a 138,125 square foot facility in Greenwood Village, Colorado, fully leased to York Space Systems. The company also issued 750,000 shares of common stock, raising approximately $16.8 million in net proceeds.

Strategic Initiatives and Corporate Developments

On the strategic front, Easterly amended its 2018 Term Loan, increasing the loan amount to $200 million and extending the maturity date to August 21, 2028. The company also secured an accordion feature for additional borrowing capacity of up to $100 million. Furthermore, the Board of Directors approved a cash dividend of $0.45 per common share for the third quarter of 2025, payable on November 20, 2025.

Management's Perspective

Darrell Crate, President & CEO of Easterly Government Properties, commented, "We've delivered another quarter of strong results. This underscores Easterly's ability to deliver consistent, compounding growth over time."

Future Outlook

The company has adjusted its guidance for full-year 2025 Core FFO per share on a fully diluted basis to a range of $2.98 - $3.02. For 2026, the company is issuing guidance for Core FFO per share on a fully diluted basis at a range of $3.05 - $3.12. This guidance assumes approximately $167 million of wholly owned acquisitions and $25 - $75 million of gross development-related investment during 2025, and $50 million of wholly owned acquisitions and $50 - $100 million of gross development-related investment during 2026.

Original SEC Filing: Easterly Government Properties, Inc. [ DEA ] - 8-K - Oct. 27, 2025