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.

Wall Street Analyst Weigh In

Several research firms have commented on EPRT. Stifel Nicolaus upped their target price on shares of Essential Properties Realty Trust from $27.00 to $27.50 and gave the stock a buy rating in a research report on Tuesday, March 19th. B. Riley reiterated a buy rating and issued a $29.00 price objective (up from $27.50) on shares of Essential Properties Realty Trust in a report on Wednesday, March 13th. Mizuho reduced their target price on shares of Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating for the company in a report on Thursday, March 7th. Raymond James raised their target price on shares of Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an outperform rating in a report on Monday, January 8th. Finally, Citigroup upgraded shares of Essential Properties Realty Trust from a neutral rating to a buy rating and raised their target price for the stock from $25.00 to $28.50 in a report on Friday, March 22nd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $28.22.

Essential Properties Realty Trust Stock Performance

Shares of NYSE:EPRT traded down $0.05 on Friday, hitting $25.68. The company had a trading volume of 1,308,027 shares, compared to its average volume of 1,343,968. Essential Properties Realty Trust has a 1-year low of $20.49 and a 1-year high of $26.77. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 1.95 and a beta of 1.27. The stock has a 50 day moving average price of $25.30 and a 200 day moving average price of $24.46. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.56.

Essential Properties Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Wednesday, March 27th. Essential Properties Realty Trust’s dividend payout ratio is currently 92.68%.

Insider Buying and Selling

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 11,904 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $24.35, for a total value of $289,862.40. Following the sale, the chief executive officer now owns 571,606 shares of the company’s stock, valued at approximately $13,918,606.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the sale, the chief executive officer now owns 554,904 shares in the company, valued at approximately $14,433,053.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter M. Mavoides sold 11,904 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $24.35, for a total value of $289,862.40. Following the transaction, the chief executive officer now owns 571,606 shares of the company’s stock, valued at $13,918,606.10. The disclosure for this sale can be found here. Insiders have sold 44,524 shares of company stock valued at $1,113,438 over the last 90 days. 0.81% of the stock is owned by corporate 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.