Essential Properties Realty Trust (NYSE:EPRT) Updates FY24 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.72-$1.75 for the period, compared to the consensus estimate of $1.86. Essential Properties Realty Trust also updated its FY 2024 guidance to 1.720-1.750 EPS.

Analyst Ratings Changes

EPRT has been the topic of several recent research reports. Mizuho cut their price objective on shares of Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating on the stock in a research report on Thursday, March 7th. B. Riley reissued a buy rating and issued a $29.00 price target (up previously from $27.50) on shares of Essential Properties Realty Trust in a research report on Wednesday, March 13th. Citigroup raised shares of Essential Properties Realty Trust from a neutral rating to a buy rating and lifted their price target for the company from $25.00 to $28.50 in a research report on Friday, March 22nd. Raymond James lifted their price target on shares of Essential Properties Realty Trust from $28.00 to $29.00 and gave the company an outperform rating in a research report on Monday, January 8th. Finally, BMO Capital Markets began coverage on shares of Essential Properties Realty Trust in a research report on Tuesday, February 13th. They issued an outperform rating and a $29.00 price target on the stock. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $28.22.

Essential Properties Realty Trust Stock Performance

EPRT traded down $0.04 during trading on Friday, reaching $25.69. 2,014,005 shares of the company’s stock were exchanged, compared to its average volume of 1,057,869. Essential Properties Realty Trust has a fifty-two week low of $20.49 and a fifty-two week high of $26.77. The company has a quick ratio of 5.01, a current ratio of 7.61 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $25.32 and a 200 day moving average price of $24.49. The company has a market capitalization of $4.50 billion, a P/E ratio of 20.87, a PEG ratio of 1.90 and a beta of 1.27.

Essential Properties Realty Trust Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Peter M. Mavoides sold 11,904 shares of the business’s stock in a transaction on Monday, March 4th. The shares were 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 in the company, valued at approximately $13,918,606.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Peter M. Mavoides sold 11,904 shares of Essential Properties Realty Trust 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 completion of the transaction, the chief executive officer now directly owns 571,606 shares of the company’s stock, valued at $13,918,606.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter M. Mavoides sold 5,714 shares of Essential Properties Realty Trust stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $25.08, for a total value of $143,307.12. Following the completion of the transaction, the chief executive officer now directly owns 565,892 shares of the company’s stock, valued at $14,192,571.36. The disclosure for this sale can be found here. Insiders have sold 44,524 shares of company stock worth $1,113,438 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

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.