UPDATE: BMO Capital Starts Easterly Government Properties (DEA) at Outperform

(updating comment)

BMO Capital initiates coverage on Easterly Government Properties (NYSE: DEA) with a Outperform rating and a price target of $26.00.

The analyst comments "DEA, the Toyota Prius of REITs? It may not be the flashiest - but is efficient (low TI/capex leakage), dependable (near-zero risk of rent collections and bad debt) and has characteristics of a hybrid office-net lease REIT. Given its ownership of mission-critical assets leased to the US government, DEA serves as a bond proxy trading at a wider-than-expected spread, in our view. We believe DEA has the opportunity and cost of capital to exceed its acquisition guidance, and outpace its recent lackluster growth."

For an analyst ratings summary and ratings history on Easterly Government Properties click here. For more ratings news on Easterly Government Properties click here.

Shares of Easterly Government Properties closed at $22.17 yesterday.

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