Essential Properties Realty Trust (NYSE:EPRT) Issues Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Essential Properties Realty Trust (NYSE:EPRT) issued its quarterly earnings results 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 return on equity of 6.28% and a net margin of 48.12%. The business had revenue of $117.13 million during the quarter, compared to analyst estimates of $109.73 million. During the same period in the prior year, the business posted $0.42 EPS. Essential Properties Realty Trust’s revenue was up 27.8% compared to the same quarter last year.

Essential Properties Realty Trust Price Performance

NYSE:EPRT traded down $0.51 during trading hours on Friday, reaching $32.85. 535,449 shares of the company were exchanged, compared to its average volume of 1,340,716. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.76 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. Essential Properties Realty Trust has a twelve month low of $20.61 and a twelve month high of $34.51. The stock’s 50-day moving average is $32.71 and its 200-day moving average is $29.45.

Essential Properties Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.53%. Essential Properties Realty Trust’s dividend payout ratio is currently 94.31%.

Analyst Ratings Changes

EPRT has been the subject of several research reports. The Goldman Sachs Group began coverage on shares of Essential Properties Realty Trust in a research note on Friday, June 28th. They set a “buy” rating and a $33.00 price objective for the company. Wedbush initiated coverage on Essential Properties Realty Trust in a research report on Monday, August 19th. They issued an “outperform” rating and a $34.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and set a $37.00 price objective (up from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Stifel Nicolaus increased their price objective on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, UBS Group boosted their target price on shares of Essential Properties Realty Trust from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.06.

Insider Activity

In related news, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were 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. Company 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.