Easterly Government Properties price target lowered to $22 from $27.50 at RBC Capital

RBC Capital analyst Michael Carroll lowered the firm’s price target on Easterly Government Properties (DEA) to $22 from $27.50 and keeps an Underperform rating on the shares. The company delivered a largely in-line report after the Board elected to commence a reverse stock split and reduce the dividend, and the firm continues to believe there is some level of uncertainty regarding the current earnings trend with the expected FAA move-out and the US Forest Services downsizing, the analyst tells investors in a research note.

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