Easterly Government Properties (NYSE:DEA) reported its financial results for the first quarter of 2026 on Monday, highlighting a period of strategic acquisition and capital activity.
The real estate investment trust, which specializes in Class A commercial properties leased to the U.S. Government and allied partners, posted net income of $1.4 million, or $0.03 per fully diluted share.
A key metric for the REIT, Core Funds From Operations (Core FFO), reached $37.1 million, or $0.77 per share.
The quarter was marked by a substantial expansion of the company’s footprint through the acquisition of a 297,713 square foot campus.
The property, primarily leased to the Commonwealth of Virginia, features a staggered lease expiration profile stretching from 2027 to 2036, providing long-term cash flow visibility.
Beyond direct real estate ownership, Easterly diversified its income stream by entering into a $7 million mezzanine construction loan agreement.
The fixed-rate loan is set at 12% per annum, reflecting a move toward high-yield credit opportunities within its development pipeline.
On the capital front, the company raised approximately $2.1 million in net proceeds by settling 94,170 shares through its 2021 ATM program at a weighted average price of $23.01.