Easterly Government Properties, Inc. (DEA) FY2025 10-K Annual Report

Filed: Feb 23, 2026
Financials
Real Estate Investment TrustsSEC EDGAR

Easterly Government Properties, Inc. (DEA) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 23, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Easterly Government Properties, Inc. FY2025 10-K Analysis

Business Overview

  • Core business: Internally managed REIT acquiring, developing, managing Class A commercial properties leased primarily to U.S. Government agencies (~90% revenue)
  • Emphasized growth in properties leased to state/local governments and private tenants, expanding tenant base beyond federal agencies
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Management Discussion & Analysis

  • Revenue $336.1M in 2025 vs $302.1M in 2024, up $34.0M YoY mainly from rental income increase of $32.1M due to acquisitions
  • Net income $13.6M in 2025 vs $20.6M in 2024, operating expenses grew 12% (252.3M vs 225.3M); no explicit segment margin disclosure
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Risk Factors

  • Cybersecurity risk management oversight by audit committee with external Chief Technology Officer having 17 years IT experience
  • Dependence on third-party information security provider critical for maintaining cybersecurity infrastructure
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Easterly Government Properties, Inc. FY2025 Key Financial Metrics
XBRL

Revenue

$336M

+11.3% YoY

Net Income

$13M

-33.5% YoY

Net Margin

3.9%

-260bp YoY

ROE

1.0%

-50bp YoY

Total Assets

$3.4B

+4.9% YoY

EPS (Diluted)

$0.27

+50.0% YoY

Operating Cash Flow

$259M

+59.4% YoY

Source: XBRL data from Easterly Government Properties, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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