Essential Properties Realty Trust (NYSE:EPRT) Issues Earnings Results

Essential Properties Realty Trust (NYSE:EPRT) posted its quarterly earnings data on Wednesday. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16), Yahoo Finance reports. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The firm had revenue of $117.13 million during the quarter, compared to analyst estimates of $109.73 million. During the same period in the previous year, the company posted $0.42 earnings per share. Essential Properties Realty Trust’s revenue was up 27.8% compared to the same quarter last year.

Essential Properties Realty Trust Trading Down 2.3 %

Shares of EPRT traded down $0.76 during mid-day trading on Friday, hitting $32.60. The company had a trading volume of 1,049,930 shares, compared to its average volume of 1,343,201. Essential Properties Realty Trust has a 1-year low of $20.61 and a 1-year high of $34.51. The business’s 50-day simple moving average is $32.71 and its 200-day simple moving average is $29.45. The stock has a market cap of $5.71 billion, a PE ratio of 26.50, a P/E/G ratio of 2.78 and a beta of 1.37. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.59.

Essential Properties Realty Trust Dividend Announcement

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

EPRT has been the topic of a number of recent research reports. Wells Fargo & Company restated an “overweight” rating and issued a $37.00 price objective (up from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Truist Financial boosted their target price on Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wedbush began coverage on shares of Essential Properties Realty Trust in a research report on Monday, August 19th. They issued an “outperform” rating and a $34.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Essential Properties Realty Trust in a research report on Friday, June 28th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Scotiabank boosted their price target on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.06.

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.