Easterly Government Properties (DEA) Q2 2026 earnings summary

Executive summary

• Achieved year-over-year Core FFO per share growth of 5.4%, surpassing the long-term target of 2%-3% growth.

• Reported Q2 2026 net income of $3.2 million ($0.07 per diluted share) and Core FFO of $37.4 million ($0.78 per diluted share).

• Portfolio comprised 106 operating properties (10.7 million sq. ft.), 98% leased, with three development projects underway and strong tenant retention.

• Raised $18.8 million through ATM equity issuance and closed a new $200 million unsecured term loan facility.

• Raised full-year Core FFO per share guidance, citing operational strength and capital markets execution.

Financial highlights

• Q2 2026 revenues reached $92.4 million, up 10% year-over-year from $84.2 million.

• EBITDA for Q2 2026 was $58.4 million, up from $54.3 million in Q2 2025.

• Net income was $0.07 per share (fully diluted) for the quarter.

• FFO and Core FFO per share both increased to $0.78 from $0.74 year-over-year, a 5% rise.

• Cash available for distribution was $25.8 million for the quarter.

Outlook and guidance

• Raised full-year Core FFO per share guidance by $0.01 at the midpoint to a new range of $3.07-$3.13.

• Guidance assumes $50M-$100M in gross development investment and $50M in wholly owned acquisitions for the year.

• The amendment to the credit agreement is intended to maintain financial flexibility and support ongoing operations and growth initiatives.

• Weighted average remaining lease term is 9.2 years, supporting stable future cash flows.