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.
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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