Essential Properties Realty Trust (NYSE:EPRT – Get Free Report) announced its earnings results on Wednesday. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13), Zacks reports. Essential Properties Realty Trust had a net margin of 51.34% and a return on equity of 6.56%. The business had revenue of $109.30 million during the quarter, compared to analysts’ expectations of $102.99 million. During the same period in the previous year, the company posted $0.41 earnings per share. Essential Properties Realty Trust’s quarterly revenue was up 26.4% on a year-over-year basis. Essential Properties Realty Trust updated its FY 2024 guidance to 1.720-1.750 EPS.
Essential Properties Realty Trust Price Performance
Essential Properties Realty Trust stock traded down $0.43 during mid-day trading on Thursday, reaching $29.94. The company had a trading volume of 2,095,838 shares, compared to its average volume of 1,374,305. Essential Properties Realty Trust has a 1 year low of $20.49 and a 1 year high of $31.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.61 and a quick ratio of 7.61. The company has a market capitalization of $5.25 billion, a P/E ratio of 24.34, a P/E/G ratio of 2.36 and a beta of 1.35. The stock’s 50-day simple moving average is $28.01 and its 200-day simple moving average is $26.35.
Essential Properties Realty Trust Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a $0.29 dividend. The ex-dividend date was Friday, June 28th. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a yield of 3.87%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 94.31%.
Analyst Ratings Changes
Get Our Latest Stock Analysis on Essential Properties Realty Trust
Insider Buying and Selling at Essential Properties Realty Trust
In other Essential Properties Realty Trust news, Director Stephen D. Sautel sold 25,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $27.09, for a total value of $677,250.00. Following the completion of the transaction, the director now directly owns 247,492 shares of the company’s stock, valued at $6,704,558.28. The sale was disclosed in a filing with the SEC, which is available at this link. In other Essential Properties Realty Trust news, Director Stephen D. Sautel sold 25,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $27.09, for a total value of $677,250.00. Following the completion of the transaction, the director now directly owns 247,492 shares of the company’s stock, valued at $6,704,558.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter M. Mavoides sold 12,712 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $28.03, for a total transaction of $356,317.36. Following the completion of the sale, the chief executive officer now owns 500,552 shares in the company, valued at $14,030,472.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,775 shares of company stock valued at $1,641,734. Corporate insiders own 0.81% of the company’s stock.
About Essential Properties Realty Trust
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.
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