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 morning. The company provided EPS guidance of $1.72-$1.75 for the period, compared to the consensus EPS estimate of $1.86. Essential Properties Realty Trust also updated its FY 2024 guidance to 1.720-1.750 EPS.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EPRT. Stifel Nicolaus upped their price target on shares of Essential Properties Realty Trust from $27.00 to $27.50 and gave the company a buy rating in a report on Tuesday, March 19th. BMO Capital Markets assumed coverage on shares of Essential Properties Realty Trust in a research report on Tuesday, February 13th. They set an outperform rating and a $29.00 price target for the company. Mizuho dropped their price objective on shares of Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating for the company in a research report on Thursday, March 7th. Raymond James increased their price objective on shares of Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an outperform rating in a research report on Monday, January 8th. Finally, B. Riley restated a buy rating and issued a $29.00 target price (up from $27.50) on shares of Essential Properties Realty Trust in a research note on Wednesday, March 13th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $28.22.

Essential Properties Realty Trust Stock Up 0.0 %

Shares of EPRT stock traded up $0.01 during trading on Friday, hitting $25.74. 719,038 shares of the company were exchanged, compared to its average volume of 1,339,099. Essential Properties Realty Trust has a twelve month low of $20.49 and a twelve month high of $26.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 5.01 and a current ratio of 5.01. The business’s 50-day simple moving average is $25.30 and its 200 day simple moving average is $24.46. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 1.95 and a beta of 1.27.

Essential Properties Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.14 dividend on an annualized basis and a yield of 4.43%. Essential Properties Realty Trust’s dividend payout ratio is currently 92.68%.

Insiders Place Their Bets

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 11,904 shares of Essential Properties Realty Trust stock in a transaction on Monday, March 4th. The shares were sold at an average price of $24.35, for a total transaction of $289,862.40. Following the sale, the chief executive officer now owns 571,606 shares in the company, valued at $13,918,606.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Peter M. Mavoides sold 11,904 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $24.35, for a total value of $289,862.40. Following the sale, the chief executive officer now owns 571,606 shares in the company, valued at approximately $13,918,606.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter M. Mavoides sold 5,714 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $25.08, for a total transaction of $143,307.12. Following the transaction, the chief executive officer now owns 565,892 shares in the company, valued at approximately $14,192,571.36. The disclosure for this sale can be found here. Insiders have sold 44,524 shares of company stock worth $1,113,438 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

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.