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

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.72-$1.75 for the period, compared to the consensus earnings per share estimate of $1.86.

Essential Properties Realty Trust Stock Performance

Shares of NYSE:EPRT traded up $0.05 during trading on Wednesday, hitting $26.33. 1,189,735 shares of the stock traded hands, compared to its average volume of 1,337,136. The company has a fifty day moving average price of $25.23 and a two-hundred day moving average price of $24.44. Essential Properties Realty Trust has a 52-week low of $20.49 and a 52-week high of $26.77. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 1.91 and a beta of 1.27. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.285 dividend. 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 4.33%. Essential Properties Realty Trust’s dividend payout ratio is currently 91.94%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 17,618 shares of the company’s stock in a transaction that occurred 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 SEC, which is accessible through the SEC website. In related news, CEO Peter M. Mavoides sold 17,618 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $24.90, for a total value of $438,688.20. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter M. Mavoides sold 5,714 shares of the 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 transaction, the chief executive officer now directly owns 565,892 shares in the company, valued at approximately $14,192,571.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,524 shares of company stock worth $1,113,438. 0.81% of the stock is currently owned by company 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.