Essential Properties Realty Trust (NYSE:EPRT) Updates 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 guidance of 1.720-1.750 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stifel Nicolaus raised their price objective on 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. B. Riley reaffirmed 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 Essential Properties Realty Trust from a neutral rating to a buy rating and lifted their price target for the stock from $25.00 to $28.50 in a research report on Friday, March 22nd. Mizuho reduced their target price on 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. Finally, Raymond James lifted their target price on Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an outperform rating in a report on Monday, January 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $28.22.

Essential Properties Realty Trust Stock Performance

NYSE EPRT traded down $0.46 on Thursday, hitting $25.87. 1,013,609 shares of the company traded hands, compared to its average volume of 1,332,954. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average price is $25.27 and its 200-day moving average price is $24.45. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.94 and a beta of 1.27. Essential Properties Realty Trust has a 52-week low of $20.49 and a 52-week high of $26.77.

Essential Properties Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued 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 dividend yield of 4.41%. Essential Properties Realty Trust’s payout ratio is 91.94%.

Insider Activity at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 11,904 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 571,606 shares in the company, valued at $13,918,606.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Peter M. Mavoides sold 11,904 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $24.35, for a total transaction of $289,862.40. Following the sale, the chief executive officer now directly owns 571,606 shares of the company’s stock, valued at approximately $13,918,606.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Peter M. Mavoides sold 5,714 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $25.08, for a total transaction of $143,307.12. Following the completion of the transaction, the chief executive officer now directly owns 565,892 shares in the company, valued at $14,192,571.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,524 shares of company stock worth $1,113,438. Company insiders own 0.81% of the company’s stock.

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.