Easterly Government Properties, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 06:30 am EST
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Easterly Government Properties, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 69.8 million compared to USD 70.25 million a year ago. Revenue was USD 72.62 million compared to USD 73.51 million a year ago. Net income was USD 4.44 million compared to USD 16.29 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.18 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to USD 0.18 a year ago.
For the full year, sales was USD 273.91 million compared to USD 284.49 million a year ago. Revenue was USD 287.23 million compared to USD 293.61 million a year ago. Net income was USD 18.8 million compared to USD 31.47 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 0.34 a year ago. Diluted earnings per share from continuing operations was USD 0.19 compared to USD 0.34 a year ago.
Easterly Government Properties, Inc. is an internally managed real estate investment trust (REIT). The Company is focused primarily on the acquisition, development and management of Class A commercial properties that are leased to United States Government agencies that serve essential functions. The Company leases its properties to such agencies either directly or through the United States General Services Administration (GSA). The operations of the Company are carried out primarily through Easterly Government Properties, LP (the Operating Partnership) and the wholly owned subsidiaries of the Operating Partnership. It owns 91 properties totaling 8.9 million square feet. The Companyâs properties include VA-Loma Linda; USCIS-Kansas City; TREAS-Parkersburg; USFS II-Albuquerque; FBI-Tampa; EPA-Lenexa; FBI-Birmingham; Immigration and Customs Enforcement (ICE), located near Dallas, Texas (ICE - Dallas) and others.