Essential Properties Realty Trust Inc to Issue Quarterly Dividend of $0.22 (NYSE:EPRT)

Essential Properties Realty Trust Inc (NYSE:EPRT) declared a quarterly dividend on Monday, September 9th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.22 per share on Tuesday, October 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Friday, September 27th.

Essential Properties Realty Trust has a payout ratio of 103.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Essential Properties Realty Trust to earn $1.32 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 66.7%.

EPRT stock traded up $0.32 during mid-day trading on Wednesday, reaching $22.41. The company had a trading volume of 613,681 shares, compared to its average volume of 808,576. Essential Properties Realty Trust has a one year low of $13.05 and a one year high of $23.23. The stock has a market capitalization of $1.69 billion, a P/E ratio of 43.35, a P/E/G ratio of 2.23 and a beta of 0.46. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $21.67 and its two-hundred day simple moving average is $20.19.

A number of analysts recently weighed in on the stock. ValuEngine cut shares of Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup boosted their target price on shares of Essential Properties Realty Trust from $20.50 to $22.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Zacks Investment Research cut shares of Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Bank of America upgraded shares of Essential Properties Realty Trust from an “underperform” rating to a “buy” rating and upped their target price for the stock from $20.00 to $23.00 in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada initiated coverage on shares of Essential Properties Realty Trust in a research note on Friday, July 12th. They issued a “sector perform” rating and a $21.00 price target on the stock. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Essential Properties Realty Trust presently has a consensus rating of “Hold” and an average price target of $20.47.

In related news, major shareholder Eldridge Industries, Llc sold 26,288,316 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $19.55, for a total transaction of $513,936,577.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Peter M. Mavoides sold 43,891 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $19.82, for a total value of $869,919.62. The disclosure for this sale can be found here. Insiders sold 26,356,559 shares of company stock valued at $515,289,154 in the last ninety days. Corporate insiders own 2.10% 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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.

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Dividend History for Essential Properties Realty Trust (NYSE:EPRT)

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