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

Essential Properties Realty Trust (NYSE:EPRT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.72-$1.75 for the period, compared to the consensus earnings per share estimate of $1.89. Essential Properties Realty Trust also updated its FY 2024 guidance to 1.840-1.890 EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EPRT shares. Truist Financial upped their price objective on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group raised their price objective on Essential Properties Realty Trust from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Stifel Nicolaus upped their target price on Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Scotiabank boosted their price target on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Essential Properties Realty Trust in a research note on Friday, June 28th. They issued a “buy” rating and a $33.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.06.

Essential Properties Realty Trust Stock Up 0.1 %

NYSE:EPRT traded up $0.05 on Wednesday, hitting $33.87. The stock had a trading volume of 538,977 shares, compared to its average volume of 1,343,203. Essential Properties Realty Trust has a 1 year low of $20.61 and a 1 year high of $34.51. The firm’s fifty day simple moving average is $32.56 and its two-hundred day simple moving average is $29.39. The stock has a market cap of $5.94 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.90 and a current ratio of 4.90.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13). The business had revenue of $109.30 million for the quarter, compared to the consensus estimate of $102.99 million. Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. Analysts predict that Essential Properties Realty Trust will post 1.68 earnings per share for the current year.

Essential Properties Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 94.31%.

Insider Buying and Selling

In related news, CEO Peter M. Mavoides sold 27,817 shares of Essential Properties Realty Trust stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.33, for a total value of $899,323.61. Following the sale, the chief executive officer now owns 446,076 shares of the company’s stock, valued at approximately $14,421,637.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.81% of the stock is currently 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.