Essential Properties Realty Trust, Inc. to Issue Quarterly Dividend of $0.30 (NYSE:EPRT)

Essential Properties Realty Trust, Inc. (NYSE:EPRT) declared a quarterly dividend on Monday, March 10th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.295 per share on Friday, April 11th. This represents a $1.18 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, March 31st.

Essential Properties Realty Trust has raised its dividend by an average of 5.1% annually over the last three years. Essential Properties Realty Trust has a dividend payout ratio of 88.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Essential Properties Realty Trust to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 59.6%.

Essential Properties Realty Trust Stock Down 1.4 %

NYSE EPRT traded down $0.45 during trading hours on Tuesday, reaching $31.12. 3,144,494 shares of the company’s stock were exchanged, compared to its average volume of 1,253,395. The company has a debt-to-equity ratio of 0.59, a quick ratio of 5.36 and a current ratio of 5.36. Essential Properties Realty Trust has a one year low of $24.72 and a one year high of $34.88. The company’s 50-day moving average is $31.67 and its two-hundred day moving average is $32.40. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 2.90 and a beta of 1.36.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.14. Essential Properties Realty Trust had a net margin of 45.15% and a return on equity of 6.12%. On average, analysts forecast that Essential Properties Realty Trust will post 1.83 EPS for the current fiscal year.

Insider Activity

In related news, Director Stephen D. Sautel sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $31.99, for a total transaction of $959,700.00. Following the completion of the transaction, the director now directly owns 218,785 shares in the company, valued at $6,998,932.15. This represents a 12.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Scotiabank reduced their price target on Essential Properties Realty Trust from $33.00 to $32.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Essential Properties Realty Trust in a research report on Wednesday, December 11th. They issued a “buy” rating and a $38.00 target price for the company. B. Riley cut shares of Essential Properties Realty Trust from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $29.50 to $33.50 in a research report on Wednesday, February 19th. UBS Group raised their price objective on Essential Properties Realty Trust from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Capital One Financial started coverage on Essential Properties Realty Trust in a research report on Wednesday, February 12th. They set an “overweight” rating and a $35.00 price target for the company. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Essential Properties Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $34.48.

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.