Easterly Government Properties (DEA) IPO Opens Higher

Today's IPO for Easterly Government Properties (NYSE: DEA) opened for trading at $16.25 after pricing its 12 million share IPO at $15, the middle of the expected $14-$16 range. Shares have since moved down to $15.84,

Citigroup, Raymond James and RBC Capital Markets are acting as joint book-running managers for the offering.

Based in Washington, D.C., Easterly Government Properties, Inc. is a newly organized corporation that intends to qualify as a real estate investment trust, or REIT, focused primarily on the acquisition, development and management of Class A commercial properties leased to U.S. Government agencies through the U.S. General Services Administration, or GSA.

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