Truist analyst Michael Lewis lowered the firm’s price target on Easterly Government Properties to $13 from $14 and keeps a Hold rating on the shares. The company’s 2023 normalized FFO per share was its lowest since 2015 and its cash flow is below its dividend payout, the analyst tells investors in a research note. The firm warns that the dividend might and should be cut as it is currently “an overhang”.
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