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.

Essential Properties Realty Trust Stock Up 0.0 %

Shares of EPRT stock traded up $0.01 during trading hours on Friday, hitting $25.74. 719,038 shares of the company were exchanged, compared to its average volume of 1,339,099. The business has a 50 day moving average of $25.30 and a two-hundred day moving average of $24.46. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.56. Essential Properties Realty Trust has a 52 week low of $20.49 and a 52 week high of $26.77. The company has a market capitalization of $4.36 billion, a PE ratio of 20.92, a PEG ratio of 1.95 and a beta of 1.27.

Essential Properties Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

EPRT has been the subject of several recent research reports. Citigroup upgraded shares of Essential Properties Realty Trust from a neutral rating to a buy rating and increased their target price for the stock from $25.00 to $28.50 in a report on Friday, March 22nd. Raymond James increased their target price on shares of Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an outperform rating in a report on Monday, January 8th. Stifel Nicolaus increased 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 research note on Tuesday, March 19th. Mizuho cut their price target on shares of Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating for the company in a research note on Thursday, March 7th. Finally, BMO Capital Markets started coverage on shares of Essential Properties Realty Trust in a research note on Tuesday, February 13th. They issued an outperform rating and a $29.00 price target for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Essential Properties Realty Trust presently has a consensus rating of Buy and a consensus target price of $28.22.

Insider Activity

In related news, CEO Peter M. Mavoides sold 11,904 shares of Essential Properties Realty Trust stock in a transaction that occurred 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 directly owns 571,606 shares in the company, valued at approximately $13,918,606.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Peter M. Mavoides sold 11,904 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $24.35, for a total transaction of $289,862.40. Following the completion of the transaction, the chief executive officer now directly owns 571,606 shares of the company’s stock, valued at approximately $13,918,606.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Peter M. Mavoides sold 17,618 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $24.90, for a total value of $438,688.20. Following the transaction, the chief executive officer now directly owns 353,303 shares of the company’s stock, valued at $8,797,244.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,524 shares of company stock worth $1,113,438. 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.