Essential Properties Realty Trust (NYSE:EPRT) Issues FY24 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.72-$1.75 for the period, compared to the consensus estimate of $1.89. Essential Properties Realty Trust also updated its FY 2024 guidance to 1.840-1.890 EPS.

Analysts Set New Price Targets

A number of analysts have weighed in on EPRT shares. UBS Group increased their price target on Essential Properties Realty Trust from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Raymond James increased their price objective on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $37.00 target price (up from $34.00) on shares of Essential Properties Realty Trust in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price target on Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Wedbush assumed coverage on Essential Properties Realty Trust in a research report on Monday, August 19th. They set an “outperform” rating and a $34.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.06.

Essential Properties Realty Trust Stock Performance

Shares of Essential Properties Realty Trust stock opened at $32.60 on Friday. The firm has a market capitalization of $5.71 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $32.77 and its 200 day simple moving average is $29.50. Essential Properties Realty Trust has a 12 month low of $20.61 and a 12 month high of $34.51.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16). The company had revenue of $117.13 million for the quarter, compared to the consensus estimate of $109.73 million. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. Essential Properties Realty Trust’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, analysts anticipate that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.56%. Essential Properties Realty Trust’s payout ratio is 94.31%.

Insider Buying and Selling

In other news, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.33, for a total value of $899,323.61. Following the completion of the transaction, the chief executive officer now directly owns 446,076 shares in the company, valued at approximately $14,421,637.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is owned by 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.