- Easterly Government Properties, Inc. (DEA, Financial) has completed a 1-for-2.5 reverse stock split.
- The number of outstanding shares reduced from approximately 112.3 million to 44.9 million.
- The quarterly dividend is adjusted to $0.45 per share post-split.
Easterly Government Properties, Inc. (DEA), a real estate investment trust specializing in Class A commercial properties leased to U.S. Government agencies, announced the completion of its 1-for-2.5 reverse stock split. The company's common stock will trade on a split-adjusted basis on the NYSE effective April 28, 2025, continuing under the symbol "DEA" but with a new CUSIP number 27616P 301. This move reduces the number of outstanding common shares from approximately 112.3 million to about 44.9 million.
The reverse split does not alter the number of authorized common shares and adjusts the previously declared quarterly dividend from $0.18 to $0.45 per share for stockholders of record on May 5, 2025. This adjustment ensures consistency with the reduced share count post-split. Shareholders with fractional shares resulting from the reverse stock split will receive cash payments based on the average closing price of DEA shares over three trading days prior to the split's effective date.
In parallel with the common stock split, Easterly Government Properties LP, the operating partnership of the company, also underwent a corresponding 1-for-2.5 reverse split of its partnership units. Consequently, the total outstanding partnership units decreased from approximately 4.9 million to about 2 million. Fractional partnership units will also be liquidated in cash similarly to the common stock fractions.
For further assistance regarding the reverse stock split, stockholders are advised to contact their brokers or Easterly’s transfer agent, Computershare, at 1-800-736-3001.
Based in Washington, D.C., Easterly Government Properties continues to focus on the strategic acquisition, development, and management of properties leased to U.S. Government agencies, reinforcing its long-term growth and commitment to serving mission-critical operations.