Q - Easterly Government Properties,
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 5, 2025
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Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 (unaudited)
Consolidated Balance Sheets (unaudited)
(Amounts in thousands, except share amounts)
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Real estate properties, net | $2,682,915 | $2,572,095 |
| Cash and cash equivalents | 4,697 | 19,353 |
| Restricted cash | 9,354 | 8,451 |
| Tenant accounts receivable | 75,506 | 71,172 |
| Investment in unconsolidated real estate venture | 310,514 | 316,521 |
| Real estate loan receivable, net | 31,942 | 34,081 |
| Intangible assets, net | 188,006 | 161,425 |
| Interest rate swaps | — | 717 |
| Prepaid expenses and other assets | 56,493 | 39,256 |
| Total assets | $3,359,427 | $3,223,071 |
| Liabilities | ||
| Revolving credit facility | 277,550 | 274,550 |
| Term loan facilities, net | 273,524 | 274,009 |
| Notes payable, net | 1,018,398 | 894,676 |
| Mortgage notes payable, net | 153,420 | 155,586 |
| Intangible liabilities, net | 13,331 | 14,885 |
| Deferred revenue | 118,659 | 120,977 |
| Interest rate swaps | 2,903 | — |
| Accounts payable, accrued expenses and other liabilities | 115,110 | 101,271 |
| Total liabilities | 1,972,895 | 1,835,954 |
| Equity | ||
| Common stock, par value $0.01, 80,000,000 shares authorized, 45,354,115 and 43,188,224 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively | 453 | 432 |
| Additional paid-in capital(1) | 1,934,279 | 1,874,193 |
| Retained earnings | 139,052 | 131,854 |
| Cumulative dividends | (734,864) | (686,044) |
| Accumulated other comprehensive income (loss) | (4,591) | 683 |
| Total stockholders’ equity | 1,334,329 | 1,321,118 |
| Non-controlling interest in Operating Partnership | 52,203 | 65,999 |
| Total equity | 1,386,532 | 1,387,117 |
| Total liabilities and equity | $3,359,427 | $3,223,071 |
(1)
As of December 31, 2024, the Company reclassified $0.6 million from Common Stock to Additional Paid-in-Capital due to the reduction in shares outstanding in connection with the Reverse Stock Split effective April 28, 2025.
Share and per share data have been adjusted for all periods presented to reflect a 1 for 2.5 reverse stock split, effective April 28, 2025, and a reduction in authorized shares of common stock from 200,000,000 to 80,000,000, in proportion with the 1 for 2.5 reverse stock split, effective May 8, 2025.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.