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

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

Wall Street Analyst Weigh In

EPRT has been the topic of several recent analyst reports. UBS Group lifted their target price 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. Scotiabank lifted their price target on Essential Properties Realty Trust from $26.00 to $28.00 and gave the stock a sector perform rating in a report on Wednesday, May 29th. The Goldman Sachs Group assumed coverage on Essential Properties Realty Trust in a research report on Friday, June 28th. They issued a buy rating and a $33.00 price objective on the stock. Evercore ISI lowered Essential Properties Realty Trust from an outperform rating to an in-line rating and raised their target price for the company from $30.00 to $32.00 in a research report on Wednesday, July 17th. Finally, Mizuho lifted their target price on Essential Properties Realty Trust from $26.00 to $29.00 and gave the stock a buy rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $29.67.

Essential Properties Realty Trust Stock Performance

EPRT traded down $0.55 on Wednesday, hitting $30.41. The company’s stock had a trading volume of 987,656 shares, compared to its average volume of 1,369,187. Essential Properties Realty Trust has a 12 month low of $20.49 and a 12 month high of $31.23. The firm has a market cap of $5.33 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 2.34 and a beta of 1.35. The company has a quick ratio of 7.61, a current ratio of 7.61 and a debt-to-equity ratio of 0.51. The company’s 50 day simple moving average is $27.96 and its 200-day simple moving average is $26.32.

Essential Properties Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.29 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 3.81%. Essential Properties Realty Trust’s payout ratio is 94.31%.

Insider Activity at Essential Properties Realty Trust

In other news, Director Stephen D. Sautel sold 25,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $27.09, for a total transaction of $677,250.00. Following the sale, the director now directly owns 247,492 shares in the company, valued at $6,704,558.28. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Stephen D. Sautel sold 25,000 shares of the business’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 approximately $6,704,558.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter M. Mavoides sold 1,200 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $28.00, for a total transaction of $33,600.00. Following the completion of the transaction, the chief executive officer now directly owns 513,264 shares in the company, valued at approximately $14,371,392. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,775 shares of company stock worth $1,641,734. 0.81% of the stock is owned by company 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.