Easterly Government Properties, Inc. (DEA) Earnings Call Transcripts

Easterly Government Properties, Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Easterly Government Properties reported total revenue of $91.5 million, a 16% increase year-over-year, driven by acquisitions and contractual rent growth. Earnings per share (EPS) was $0.03, while funds from operations (FFO) per share rose to $0.76, reflecting a 7% increase. Management raised the low end of their full-year guidance from $3.05 to $3.06, indicating confidence in continued performance despite market volatility.

Reported metrics

Guidance from management

Management raised the low end of their full-year FFO guidance to $3.06, with a range of $3.06 to $3.12, reflecting confidence in continued performance amid market volatility.

What management said

Yes. I mean, look, it's a terrific way for us to get involved early in a project. And I think we could see ourselves allocating about $30 million to this pipeline, the VA pipeline over the next 4, 5, 6 years is quite significant. There's a set of terrific well-respected developers who really have a knack for building these well. And as you can see, at $7 million, roughly $30 million allocated to this effort would get...

Yes. Over the next 18 months, John, is when we can get that deployed. I mean, we're really -- I think we've delivered some real terrific growth for this year, and I think we're really setting ourselves up for a nice 2027. I'd love to be giving guidance for 2027, but Allison Marino and Cole won't let me. And so we're excited, again, to continue to grow in a way that we think will be pleasing to shareholders.

What analysts pressed on

Analysts expressed concerns regarding the impact of market volatility on future performance and the timing of capital deployment. There were questions about the potential for further mezzanine investments and the company's acquisition strategy given current share price challenges.

Main topics on the call

• Revenue Growth — Easterly's total revenue increased to $91.5 million from $78.7 million in Q1 2025, representing a 16% year-over-year growth. Management noted, "the underlying growth in the business is clear," highlighting the impact of ...
• Mezzanine Investment Strategy — The company completed its first mezzanine investment of $7 million for a VA outpatient clinic, expected to yield 12%. CEO Darrell Crate stated, "It's a terrific way for us to get involved early in a project," indicating ...
• Occupancy and Lease Terms — Easterly reported an occupancy rate of 97% and a weighted average lease term of approximately 9.4 years, which are both above REIT peers. This reflects the quality and mission-critical nature of their assets.
• Guidance Update — Management raised the low end of their full-year FFO guidance from $3.05 to $3.06, with a range now set between $3.06 and $3.12. This adjustment reflects confidence in performance despite ongoing market volatility.

Read the full Easterly Government Properties, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 34 Easterly Government Properties, Inc. earnings call transcripts on record, spanning February 25, 2020 to August 3, 2026. Based on this history, Easterly Government Properties, Inc. reports quarterly. The most recent call on file is dated August 3, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

DEA

Exchange

NYSE

Country

US

Sector

Real Estate

Industry

Office REITs

Calls on record

34

First call

February 25, 2020

Most recent

August 3, 2026

Reporting cadence

quarterly