Essential Properties Realty Trust (NYSE:EPRT) Updates 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 1.870. The company issued revenue guidance of -. Essential Properties Realty Trust also updated its FY24 guidance to $1.72-$1.75 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EPRT shares. Stifel Nicolaus raised their price objective on shares of Essential Properties Realty Trust from $27.00 to $27.50 and gave the company a buy rating in a report on Tuesday, March 19th. Mizuho lowered 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 report on Thursday, March 7th. Raymond James boosted 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. B. Riley reaffirmed a buy rating and issued a $29.00 price target (up previously from $27.50) on shares of Essential Properties Realty Trust in a report on Wednesday, March 13th. Finally, BMO Capital Markets assumed coverage on shares of Essential Properties Realty Trust in a research report on Tuesday, February 13th. They issued an outperform rating and a $29.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Essential Properties Realty Trust has a consensus rating of Buy and a consensus target price of $28.22.

Essential Properties Realty Trust Stock Performance

Shares of NYSE:EPRT traded up $0.05 during trading on Wednesday, reaching $26.33. The stock had a trading volume of 1,202,848 shares, compared to its average volume of 1,337,302. Essential Properties Realty Trust has a 52 week low of $20.49 and a 52 week high of $26.77. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.91 and a beta of 1.27. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $25.23 and a two-hundred day simple moving average of $24.44.

Essential Properties Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders 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 4.33%. Essential Properties Realty Trust’s payout ratio is 91.94%.

Insiders Place Their Bets

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 11,904 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Peter M. Mavoides sold 11,904 shares of the company’s 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 sale, the chief executive officer now owns 571,606 shares in the company, valued at approximately $13,918,606.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter M. Mavoides sold 5,714 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $25.08, for a total value of $143,307.12. Following the transaction, the chief executive officer now owns 565,892 shares in the company, valued at approximately $14,192,571.36. The disclosure for this sale can be found here. Insiders have sold 44,524 shares of company stock worth $1,113,438 over the last 90 days. Corporate 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.