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 Down 0.2 %

Shares of EPRT stock traded down $0.04 during trading hours on Friday, reaching $25.69. 2,014,005 shares of the company’s stock were exchanged, compared to its average volume of 1,057,869. The stock’s fifty day moving average price is $25.32 and its two-hundred day moving average price is $24.49. The stock has a market cap of $4.50 billion, a PE ratio of 20.87, a PEG ratio of 1.90 and a beta of 1.27. Essential Properties Realty Trust has a 1 year low of $20.49 and a 1 year high of $26.77. The company has a current ratio of 7.61, a quick ratio of 5.01 and a debt-to-equity ratio of 0.51.

Essential Properties Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a $0.285 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.14 dividend on an annualized basis and a yield of 4.44%. Essential Properties Realty Trust’s dividend payout ratio is currently 92.68%.

Analyst Upgrades and Downgrades

EPRT has been the topic of several recent research reports. Mizuho lowered their price objective on Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating on the stock in a research report on Thursday, March 7th. Citigroup upgraded Essential Properties Realty Trust from a neutral rating to a buy rating and upped their price objective for the stock from $25.00 to $28.50 in a research report on Friday, March 22nd. B. Riley restated a buy rating and issued a $29.00 price objective (up previously from $27.50) on shares of Essential Properties Realty Trust in a research report on Wednesday, March 13th. BMO Capital Markets initiated coverage on Essential Properties Realty Trust in a research report on Tuesday, February 13th. They issued an outperform rating and a $29.00 price objective on the stock. Finally, Stifel Nicolaus upped their price objective on Essential Properties Realty Trust from $27.00 to $27.50 and gave the stock a buy rating in a research report on Tuesday, March 19th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $28.22.

Insider Transactions at Essential Properties Realty Trust

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