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 1.840-1.890 for the period, compared to the consensus EPS estimate of 2.040. 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 1.5 %

NYSE:EPRT traded down $0.51 during midday trading on Thursday, hitting $33.38. 716,240 shares of the company traded hands, compared to its average volume of 1,342,358. Essential Properties Realty Trust has a 12-month low of $20.61 and a 12-month high of $34.51. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $32.64 and its 200-day moving average is $29.43. The firm has a market capitalization of $5.85 billion, a P/E ratio of 27.55, a P/E/G ratio of 2.78 and a beta of 1.37.

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

Essential Properties Realty Trust Dividend Announcement

The firm 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. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.48%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Wall Street Analyst Weigh In

EPRT has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of 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 increased their price objective on Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Truist Financial upped their price objective on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Raymond James lifted their target price on Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Finally, The Goldman Sachs Group assumed coverage on Essential Properties Realty Trust in a research report on Friday, June 28th. They set 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 assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.06.

Insider Transactions at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 27,817 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 446,076 shares in the company, valued at $14,421,637.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.81% of the company’s stock.

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.