Essential Properties Realty Trust (NYSE:EPRT) Issues FY 2024 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.720-1.750 for the period, compared to the consensus EPS estimate of 1.900. The company issued revenue guidance of -.

Analyst Ratings Changes

Several research firms have recently weighed in on EPRT. UBS Group boosted their target price on Essential Properties Realty Trust from $30.00 to $35.00 and gave the company a buy rating in a report on Thursday, July 18th. The Goldman Sachs Group assumed coverage on Essential Properties Realty Trust in a report on Friday, June 28th. They issued a buy rating and a $33.00 price objective for the company. Evercore ISI cut shares of Essential Properties Realty Trust from an outperform rating to an in-line rating and lifted their target price for the company from $30.00 to $32.00 in a report on Wednesday, July 17th. Scotiabank increased their price target on shares of Essential Properties Realty Trust from $26.00 to $28.00 and gave the stock a sector perform rating in a research note on Wednesday, May 29th. Finally, Mizuho lifted their price objective on shares of Essential Properties Realty Trust from $26.00 to $29.00 and gave the company a buy rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $29.67.

Essential Properties Realty Trust Price Performance

Shares of NYSE:EPRT traded down $0.55 on Wednesday, reaching $30.41. 987,656 shares of the company were exchanged, compared to its average volume of 1,369,187. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.34 and a beta of 1.35. Essential Properties Realty Trust has a 1-year low of $20.49 and a 1-year high of $31.23. The company has a 50-day moving average of $27.96 and a 200-day moving average of $26.32. The company has a current ratio of 7.61, a quick ratio of 7.61 and a debt-to-equity ratio of 0.51.

Essential Properties Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.29 dividend. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Friday, June 28th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Insiders Place Their Bets

In other news, CEO Peter M. Mavoides sold 12,712 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $28.03, for a total value of $356,317.36. Following the sale, the chief executive officer now directly owns 500,552 shares in the company, valued at $14,030,472.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Peter M. Mavoides sold 1,200 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $28.00, for a total transaction of $33,600.00. Following the transaction, the chief executive officer now directly owns 513,264 shares in the company, valued at $14,371,392. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter M. Mavoides sold 12,712 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $28.03, for a total transaction of $356,317.36. Following the completion of the sale, the chief executive officer now directly owns 500,552 shares in the company, valued at $14,030,472.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,775 shares of company stock worth $1,641,734. 0.81% of the stock is owned by corporate 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.