Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.11-1.15 for the period.
Shares of NYSE:EPRT traded up $0.05 during trading on Friday, reaching $21.19. The stock had a trading volume of 613,045 shares, compared to its average volume of 1,774,093. Essential Properties Realty Trust has a one year low of $13.05 and a one year high of $21.83. The firm has a market cap of $1.59 billion, a P/E ratio of 40.15, a P/E/G ratio of 1.85 and a beta of 0.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 12.94 and a quick ratio of 12.94. The stock has a 50-day moving average of $20.41.
Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.14). Essential Properties Realty Trust had a net margin of 21.30% and a return on equity of 2.83%. The firm had revenue of $31.11 million during the quarter, compared to the consensus estimate of $29.27 million. As a group, analysts forecast that Essential Properties Realty Trust will post 1.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.22 dividend. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Thursday, June 27th.
A number of analysts have recently weighed in on EPRT shares. Bank of America upgraded shares of Essential Properties Realty Trust from an underperform rating to a buy rating and raised their price target for the company from $20.00 to $23.00 in a report on Tuesday, June 11th. Royal Bank of Canada started coverage on shares of Essential Properties Realty Trust in a report on Friday, July 12th. They issued a sector perform rating and a $21.00 price target on the stock. Berenberg Bank started coverage on shares of Essential Properties Realty Trust in a report on Tuesday, April 23rd. They issued a buy rating on the stock. Evercore ISI set a $21.00 price target on shares of Essential Properties Realty Trust and gave the company a hold rating in a report on Wednesday. Finally, Barclays restated a hold rating and issued a $18.00 price target on shares of Essential Properties Realty Trust in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $20.32.
In related news, major shareholder Eldridge Industries, Llc sold 26,288,316 shares of Essential Properties Realty Trust stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $19.55, for a total value of $513,936,577.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregg A. Seibert sold 24,352 shares of Essential Properties Realty Trust stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $19.82, for a total transaction of $482,656.64. The disclosure for this sale can be found here. Insiders sold a total of 26,356,559 shares of company stock valued at $515,289,154 over the last quarter. 2.10% of the stock is owned by company insiders.
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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.
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