Stock fact sheet · data as of
Easterly Government Properties, Inc. (DEA): fair value, margin of safety and Wheel Score
Real Estate · REIT - Office · United States · High Yield Income
Is DEA undervalued?
Easterly Government Properties, Inc. (DEA) closed at 21.99 on 16 Oct 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 37.35, which puts the price 41% below it. 3 of the 9 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
The 9 models disagree widely: GLS Growth gives 0.2214 while DCF gives 154.92. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files DEA under High Yield Income: a dividend yield above 4%.
Nine valuation models for DEA
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 154.92 | +604% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 11.84 | -46% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 10.54 | -52% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 4.45 | -80% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 0.2214 | -99% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 115.71 | +426% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 9.51 | -57% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 26.49 | +20% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 2.44 | -89% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -39.96 | -282% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 26.00 | +18% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health DEA scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is low at 4.2 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are thin or negative - ROIC 0.4%, ROE 1.0%, ROA 0.4% - with debt at 1.26 times equity and a free-cash-flow yield of 25.8%.
The dividend yield is high at 8.19% (payout ratio 848%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Real Estate, Other 83%, Tenant Reimbursements 17% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 0.4% |
|---|---|---|---|
| GLS Moat | 4.2 / 10 | ROE | 1.0% |
| Debt / equity | 1.26 | ROA | 0.4% |
| Free-cash-flow yield | 25.8% | Payout ratio | 848% |
| Institutions | 10 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 74: Good
DEA scores 74 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 25/25), Piotroski health (16/20), the GLS moat (6/15), the option premium on offer (15/20) and how easily the stock trades (12/20). Moat (6/15) is the part holding the score back.
Implied volatility is 30% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (15 of 20 points). Chain open interest is 3,270 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 519k shares a day on a market cap of $1.0B, with a beta of 0.97; the Stability part of the Wheel Score gives that 12 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 41% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 6 / 15 | moat 4.2/10 | |
| Premium | 15 / 20 | implied volatility 30% | |
| Stability | 12 / 20 | 519k shares/day, $1.0B cap, beta 0.97 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Easterly Government Properties, Inc. reports earnings on 26 Oct 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Office
The 12 companies below are the closest to Easterly Government Properties, Inc. by market cap within the REIT - Office industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| PDM Piedmont Office Realty Trust, Inc. | 8.79 | 6.56 | -34% | 42Weak | $1.1B |
| PSTL Postal Realty Trust, Inc. | 22.03 | 29.08 | +24% | 80Prime | $877M |
| DEI Douglas Emmett, Inc. | 9.60 | 61.13 | +84% | 45Weak | $1.6B |
| HPP Hudson Pacific Properties, Inc. | 11.17 | 87.37 | +87% | 45Weak | $606M |
| BDN Brandywine Realty Trust | 2.63 | 6.81 | +61% | 45Weak | $454M |
| HIW Highwoods Properties, Inc. | 29.21 | 37.68 | +22% | 72Good | $3.2B |
| SLG SL Green Realty Corp. | 46.04 | 34.84 | -32% | 45Weak | $3.3B |
| OPI Office Properties Income Trust | 13.93 | - | - | 19No options | $306M |
| CDP COPT Defense Properties | 33.21 | 24.08 | -38% | 53Fair | $3.8B |
| KRC Kilroy Realty Corporation | 34.63 | 40.02 | +13% | 74Good | $4.0B |
| CUZ Cousins Properties Incorporated | 27.61 | 9.76 | -183% | 60Fair | $4.5B |
| VNORP Vornado Realty Trust | 50.11 | 30.11 | -66% | 29No options | $5.3B |
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Start free See the Sunday ScanQuestions about DEA
Is DEA undervalued right now?
By the GLS models, yes: at 21.99 the stock is 41% below the average fair value of 37.35 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of DEA and what does it mean?
DEA scores 74 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for DEA?
37.35 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Easterly Government Properties, Inc. report earnings next?
The next earnings report is due on 26 Oct 2026 (before the open), 10 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does DEA have listed options, and how liquid are they?
Yes. The nightly snapshot found 76 listed contracts with 3,270 open interest across all expiries and implied volatility of 30% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.