Essential Properties Realty Trust (NYSE:EPRT) Issues 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.

Essential Properties Realty Trust Price Performance

NYSE EPRT traded up $0.05 during trading hours on Wednesday, hitting $26.33. 1,189,735 shares of the company’s stock traded hands, 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 company has a market capitalization of $4.46 billion, a PE ratio of 21.23, a PEG ratio of 1.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 5.01 and a quick ratio of 5.01. The firm’s 50-day moving average is $25.27 and its 200-day moving average is $24.45.

Essential Properties Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.285 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.14 annualized dividend and a yield of 4.33%. Essential Properties Realty Trust’s dividend payout ratio is presently 91.94%.

Analysts Set New Price Targets

EPRT has been the subject of several research reports. B. Riley reaffirmed a buy rating and set a $29.00 price objective (up previously from $27.50) on shares of Essential Properties Realty Trust in a research note on Wednesday, March 13th. BMO Capital Markets initiated coverage on shares of Essential Properties Realty Trust in a research note on Tuesday, February 13th. They issued an outperform rating and a $29.00 price target for the company. Raymond James increased their price target on shares of Essential Properties Realty Trust from $28.00 to $29.00 and gave the company an outperform rating in a research note on Monday, January 8th. Citigroup raised shares of Essential Properties Realty Trust from a neutral rating to a buy rating and increased their price target for the company from $25.00 to $28.50 in a research note on Friday, March 22nd. Finally, Mizuho dropped their price target on shares of Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating for the company in a research note on Thursday, March 7th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and an average target price of $28.22.

Insider Transactions at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 11,904 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $24.35, for a total transaction of $289,862.40. Following the sale, the chief executive officer now directly owns 571,606 shares in the company, valued at approximately $13,918,606.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 17,618 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $24.90, for a total transaction of $438,688.20. Following the sale, the chief executive officer now directly owns 353,303 shares in the company, valued at approximately $8,797,244.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Peter M. Mavoides sold 11,904 shares of the 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 $13,918,606.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,524 shares of company stock worth $1,113,438. 0.81% of the stock is currently 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.