Essential Properties Realty Trust (NYSE:EPRT) Releases FY24 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) updated its FY24 earnings guidance on Wednesday. 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.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Essential Properties Realty Trust in a report on Tuesday, February 13th. They issued an outperform rating and a $29.00 target price on the stock. B. Riley reiterated a buy rating and issued a $29.00 target price (up previously from $27.50) on shares of Essential Properties Realty Trust in a research note on Wednesday, March 13th. Citigroup raised shares of Essential Properties Realty Trust from a neutral rating to a buy rating and raised their price target for the company from $25.00 to $28.50 in a research report on Friday, March 22nd. Mizuho dropped their target price on shares of 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. Finally, Raymond James raised their price objective on shares of Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an outperform rating in a report on Monday, January 8th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Essential Properties Realty Trust has a consensus rating of Buy and a consensus price target of $28.22.

Essential Properties Realty Trust Trading Down 1.7 %

NYSE:EPRT traded down $0.45 during mid-day trading on Thursday, reaching $25.88. 938,739 shares of the company’s stock traded hands, compared to its average volume of 1,332,598. The company has a 50 day moving average price of $25.27 and a 200-day moving average price of $24.45. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 5.01 and a quick ratio of 5.01. Essential Properties Realty Trust has a 12-month low of $20.49 and a 12-month high of $26.77.

Essential Properties Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.14 annualized dividend and a dividend yield of 4.40%. Essential Properties Realty Trust’s payout ratio is 91.94%.

Insider Activity

In other news, CEO Peter M. Mavoides sold 9,188 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total transaction of $238,979.88. Following the completion of the transaction, the chief executive officer now directly owns 554,904 shares in the company, valued at $14,433,053.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $26.01, for a total transaction of $238,979.88. Following the transaction, the chief executive officer now owns 554,904 shares in the company, valued at approximately $14,433,053.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter M. Mavoides sold 11,904 shares of Essential Properties Realty Trust stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $24.35, for a total transaction 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 approximately $13,918,606.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,524 shares of company stock worth $1,113,438. 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.