Easterly Government Properties, Inc. Q3 FY25 Results

Summary

Easterly Government Properties announced its third quarter 2025 financial results, with a net income of $1.2 million and Core FFO of $35.6 million. The company expanded its portfolio through acquisitions and development projects, including a new laboratory in Fort Myers and a facility leased to York Space Systems. As of September 30, 2025, the company owned 102 operating properties encompassing approximately 10.2 million leased square feet. The company is adjusting its guidance for full-year 2025 Core FFO per share on a fully diluted basis to a range of $2.98 - $3.02.

Key Highlights

1. 1

   Easterly Government Properties reported net income of $1.2 million, or $0.03 per share on a fully diluted basis for the third quarter ended September 30, 2025.

2. 2

   Core FFO for Q3 2025 reached $35.6 million, or $0.76 per share on a fully diluted basis.

3. 3

   The company acquired land to develop an approximately 64,000 square foot laboratory in Fort Myers, Florida, with a 25-year non-cancelable lease.

4. 4

   A 138,125 square foot facility 100% leased to York Space Systems in Greenwood Village, Colorado, was acquired during the quarter.

5. 5

   The company issued 750,000 shares of common stock in settlement of forward sales transactions, raising net proceeds of approximately $16.8 million.

6. 6

   For the nine months ended September 30, 2025, net income was $8.8 million, or $0.19 per share on a fully diluted basis.

7. 7

   Core FFO for the nine months ended September 30, 2025, totaled $103.3 million, or $2.22 per share on a fully diluted basis.