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

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Essential Properties Realty Trust Stock Up 0.2 %

Shares of NYSE EPRT traded up $0.07 during mid-day trading on Wednesday, reaching $33.89. The company had a trading volume of 986,583 shares, compared to its average volume of 1,345,409. 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 has a twelve month low of $20.61 and a twelve month high of $34.51. The stock’s 50 day moving average is $32.56 and its 200-day moving average is $29.39. The stock has a market capitalization of $5.94 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13). The firm had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.99 million. Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, equities analysts anticipate that Essential Properties Realty Trust will post 1.68 earnings per share for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 27,817 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the transaction, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by 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.