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 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 Stock Performance

NYSE:EPRT traded down $0.05 during midday trading on Friday, reaching $25.68. The stock had a trading volume of 1,308,027 shares, compared to its average volume of 1,343,968. The company has a debt-to-equity ratio of 0.56, a current ratio of 5.01 and a quick ratio of 5.01. Essential Properties Realty Trust has a 1-year low of $20.49 and a 1-year high of $26.77. The firm’s fifty day simple moving average is $25.30 and its 200-day simple moving average is $24.46. The stock has a market capitalization of $4.35 billion, a P/E ratio of 20.92, a PEG ratio of 1.95 and a beta of 1.27.

Essential Properties Realty Trust Dividend Announcement

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

Analyst Ratings Changes

EPRT has been the topic of several analyst reports. Mizuho lowered their price objective 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 boosted their target price on Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an outperform rating in a research report on Monday, January 8th. Citigroup upgraded Essential Properties Realty Trust from a neutral rating to a buy rating and lifted their price objective for the stock from $25.00 to $28.50 in a research report on Friday, March 22nd. B. Riley reiterated a buy rating and issued a $29.00 target price (up from $27.50) on shares of Essential Properties Realty Trust in a report on Wednesday, March 13th. Finally, BMO Capital Markets began coverage on Essential Properties Realty Trust in a research note on Tuesday, February 13th. They set an outperform rating and a $29.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Essential Properties Realty Trust has an average rating of Buy and an average price target of $28.22.

Insider Buying and Selling at Essential Properties Realty Trust

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 transaction of $289,862.40. Following the transaction, the chief executive officer now owns 571,606 shares in the company, valued at approximately $13,918,606.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Peter M. Mavoides sold 9,188 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $26.01, for a total value of $238,979.88. Following the sale, the chief executive officer now directly owns 554,904 shares in the company, valued at approximately $14,433,053.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter M. Mavoides sold 11,904 shares of the firm’s 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 completion of the sale, the chief executive officer now 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 ninety days. 0.81% of the stock is currently owned by corporate 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.