Essential Properties Realty Trust (NYSE:EPRT) Issues FY 2024 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.720-1.750 for the period, compared to the consensus EPS estimate of 1.900. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Essential Properties Realty Trust from $31.25 to $32.00 and gave the stock a buy rating in a research report on Thursday. The Goldman Sachs Group assumed coverage on shares of Essential Properties Realty Trust in a research report on Friday, June 28th. They set a buy rating and a $33.00 price objective for the company. Mizuho upped their price objective on shares of Essential Properties Realty Trust from $26.00 to $29.00 and gave the stock a buy rating in a research report on Friday, May 10th. Evercore ISI cut shares of Essential Properties Realty Trust from an outperform rating to an in-line rating and upped their price objective for the stock from $30.00 to $32.00 in a research report on Wednesday, July 17th. Finally, UBS Group upped their price objective on shares of Essential Properties Realty Trust from $30.00 to $35.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $30.04.

Essential Properties Realty Trust Trading Up 1.6 %

Shares of EPRT traded up $0.48 during trading hours on Friday, hitting $30.42. 637,273 shares of the stock were exchanged, compared to its average volume of 1,369,152. The firm has a market capitalization of $5.33 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Essential Properties Realty Trust has a fifty-two week low of $20.49 and a fifty-two week high of $31.23. The business has a 50-day moving average of $28.01 and a 200-day moving average of $26.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.61 and a quick ratio of 7.61.

Essential Properties Realty Trust (NYSE:EPRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.13). The company had revenue of $109.30 million for the quarter, compared to the consensus estimate of $102.99 million. Essential Properties Realty Trust had a return on equity of 6.40% and a net margin of 48.12%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. On average, research analysts expect that Essential Properties Realty Trust will post 1.69 EPS for the current year.

Essential Properties Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, June 28th. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 3.81%. Essential Properties Realty Trust’s dividend payout ratio is currently 94.31%.

Insider Buying and Selling

In other Essential Properties Realty Trust news, Director Stephen D. Sautel sold 25,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $27.09, for a total value of $677,250.00. Following the transaction, the director now directly owns 247,492 shares of the company’s stock, valued at $6,704,558.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 20,863 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $27.54, for a total value of $574,567.02. Following the transaction, the chief executive officer now directly owns 514,464 shares of the company’s stock, valued at $14,168,338.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen D. Sautel sold 25,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $27.09, for a total transaction of $677,250.00. Following the completion of the transaction, the director now directly owns 247,492 shares in the company, valued at $6,704,558.28. The disclosure for this sale can be found here. Insiders have sold a total of 59,775 shares of company stock valued at $1,641,734 over the last ninety days. 0.81% of the stock is owned by corporate insiders.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc, a real estate company, acquires, owns, and manages single-tenant properties in the United States. The company leases its properties to middle-market companies, such as restaurants, car washes, automotive services, medical and dental services, convenience stores, equipment rental, entertainment, early childhood education, grocery, and health and fitness on a long-term basis.