Easterly Government Properties Inc
easterlyreit.comWhat Do They Do?
Acquires, develops and manages commercial properties leased to U.S. Government agencies, state and local governments, and private tenants.
10-K for FY2025, filed Feb 23, 2026
How Do They Make Money?
Other income includes tenant construction-project income, parking, interest on real estate loans and miscellaneous sources; the company also collects rent under property leases and reimbursements for property costs. Property-cost reimbursements track related expenses, and construction-project reimbursement is typically due after work is complete and accepted.
10-K for FY2025, filed Feb 23, 2026Rental income includes base rents paid by each tenant in accordance with its lease agreement conditions. We recognize rental income on a…View ↗
Other income includes income on the associated tenant reimbursement construction projects, parking income, interest income recognized from…View ↗
The balance in Accounts receivable related to tenant construction projects and the associated project management income was $2.5 million…View ↗
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10-K for FY2025, filed Feb 23, 2026
FY2025 revenue by product or service ↗
$336.1M
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10-K for FY2025, filed Feb 23, 2026
$336.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Tenant Reimbursements
Mix
10-K for FY2025, filed Feb 23, 2026 |
49%
FY2022: 77%
|
Tenant Reimbursements, FY2025
$5.9M Sources
|
Mix |
|
Other Income
|
51%
FY2022: 23%
|
Other Income, FY2025
$6M Sources
|
Who Are Their Customers?
U.S. Government agencies lease properties directly or through the General Services Administration; other tenants include state and local government agencies and private tenants.
10-K for FY2025, filed Feb 23, 2026
Do Revenues Turn Into Profits?
Yes. It kept 4 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 23, 2026
10-K for FY2025, filed Feb 23, 2026
$13MView ↗
How Are They Changing?
10-Q for Q3 FY2026, filed Oct 26, 2026
Open tableView ↗
Growing. Revenue grew 22% in 4 years, from $274.9M in FY2021 to $336.1M in FY2025, about 5% a year.
Broader property targets
The latest report extends acquisition plans beyond U.S. Government agencies to state and local governments and private tenants whose properties support government missions; the older report focused its acquisition targets on U.S. Government agencies.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 23, 2026Pursue Attractive Acquisition Opportunities. We seek to pursue strategic and disciplined acquisitions of properties that we believe are…View ↗
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