Essential Properties Realty Trust (NYSE:EPRT) Issues FY 2024 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.720-1.750 for the period, compared to the consensus 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 Stock Up 0.2 %

Shares of NYSE EPRT traded up $0.05 during trading on Wednesday, reaching $26.33. The company had a trading volume of 1,202,848 shares, compared to its average volume of 1,337,302. Essential Properties Realty Trust has a 12-month low of $20.49 and a 12-month high of $26.77. The stock has a market cap of $4.46 billion, a PE ratio of 21.23, a P/E/G ratio of 1.91 and a beta of 1.27. The business’s 50-day moving average is $25.23 and its 200 day moving average is $24.44. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.56.

Essential Properties Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Wednesday, March 27th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 91.94%.

Analyst Ratings Changes

A number of equities analysts have recently commented on EPRT shares. Stifel Nicolaus lifted their target price on Essential Properties Realty Trust from $27.00 to $27.50 and gave the stock a buy rating in a report on Tuesday, March 19th. Mizuho lowered their target price on Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Raymond James increased their target price on Essential Properties Realty Trust from $28.00 to $29.00 and gave the company an outperform rating in a report on Monday, January 8th. Citigroup upgraded Essential Properties Realty Trust from a neutral rating to a buy rating and upped their price target for the company from $25.00 to $28.50 in a research report on Friday, March 22nd. Finally, BMO Capital Markets started coverage on Essential Properties Realty Trust in a research note on Tuesday, February 13th. They set an outperform rating and a $29.00 target price for the company. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and an average target price of $28.22.

Insiders Place Their Bets

In related news, CEO Peter M. Mavoides sold 17,618 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $24.90, for a total value of $438,688.20. Following the transaction, the chief executive officer now directly owns 353,303 shares of the company’s stock, valued at approximately $8,797,244.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Peter M. Mavoides sold 17,618 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $24.90, for a total transaction of $438,688.20. Following the completion of the sale, the chief executive officer now directly owns 353,303 shares in the company, valued at $8,797,244.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter M. Mavoides sold 11,904 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $24.35, for a total transaction of $289,862.40. Following the transaction, the chief executive officer now directly owns 571,606 shares in the company, valued at approximately $13,918,606.10. The disclosure for this sale can be found here. Insiders have sold a total of 44,524 shares of company stock valued at $1,113,438 in the last quarter. 0.81% of the stock is currently owned by company 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.