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

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.720-1.750 for the period, compared to the consensus 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.

Essential Properties Realty Trust Trading Down 0.2 %

EPRT stock traded down $0.04 during midday trading on Friday, hitting $25.69. 2,014,005 shares of the company’s stock were exchanged, compared to its average volume of 1,057,869. The stock’s fifty day moving average price is $25.32 and its 200-day moving average price is $24.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.01 and a current ratio of 7.61. The company has a market cap of $4.50 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27. Essential Properties Realty Trust has a one year low of $20.49 and a one year high of $26.77.

Essential Properties Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a $0.285 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 4.44%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 92.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EPRT. Stifel Nicolaus lifted their target price on Essential Properties Realty Trust from $27.00 to $27.50 and gave the company a buy rating in a research report on Tuesday, March 19th. BMO Capital Markets started coverage on Essential Properties Realty Trust in a research report on Tuesday, February 13th. They issued an outperform rating and a $29.00 target price on the stock. B. Riley reissued a buy rating and set a $29.00 price target (up previously from $27.50) on shares of Essential Properties Realty Trust in a research report on Wednesday, March 13th. Mizuho lowered their price target on 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, Citigroup raised Essential Properties Realty Trust from a neutral rating to a buy rating and boosted their price target for the stock from $25.00 to $28.50 in a research report on Friday, March 22nd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $28.22.

Insider Activity

In other news, CEO Peter M. Mavoides sold 9,188 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the transaction, the chief executive officer now owns 554,904 shares of the company’s stock, valued at $14,433,053.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Peter M. Mavoides sold 9,188 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the completion of the sale, 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 SEC, which is available at this link. Also, CEO Peter M. Mavoides sold 17,618 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $24.90, for a total value of $438,688.20. Following the completion of the sale, the chief executive officer now owns 353,303 shares of the company’s stock, valued at $8,797,244.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,524 shares of company stock valued at $1,113,438. 0.81% of the stock is owned by insiders.

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.