05:40 PM EDT, 04/09/2025 (MT Newswires) -- Easterly Government Properties ( DEA ) late Wednesday said it was reducing its quarterly dividend by roughly 32%, or $0.085 per share, to $0.18, from previous dividend of $0.265 per share.

Going forward, Easterly said it was targeting payout ratios of between 55% to 65% of its core funds from operations and 65% to 75% of its cash available for distribution. The decision is taken to better align the real estate investment trust's payout ratio with its peers.

The next dividend at the new ratio will be payable May 17 to shareholders of record on May 5.

The company also disclosed plans for a 1-for-2.5 reverse split of its stock to take effect on April 28. After the reverse stock split, the quarter dividend will become $0.45 per share.

Easterly shares were down about nearly 3% in extended session.