Zacks: Brokerages Anticipate Essential Properties Realty Trust, Inc. (NYSE:EPRT) Will Announce Earnings of $0.28 Per Share

Wall Street analysts forecast that Essential Properties Realty Trust, Inc. (NYSE:EPRT) will announce earnings per share of $0.28 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Essential Properties Realty Trust’s earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.27. Essential Properties Realty Trust posted earnings per share of $0.18 during the same quarter last year, which indicates a positive year over year growth rate of 55.6%. The business is expected to announce its next quarterly earnings results on Monday, March 1st.

On average, analysts expect that Essential Properties Realty Trust will report full year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.11 to $1.18. For the next fiscal year, analysts expect that the company will report earnings of $1.24 per share, with EPS estimates ranging from $1.16 to $1.29. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Essential Properties Realty Trust.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.15). Essential Properties Realty Trust had a net margin of 31.54% and a return on equity of 3.73%.

A number of equities analysts recently weighed in on EPRT shares. Truist lifted their target price on shares of Essential Properties Realty Trust from $22.00 to $23.00 in a research note on Friday, December 11th. Scotiabank boosted their target price on shares of Essential Properties Realty Trust from $19.00 to $20.00 in a research report on Friday, October 9th. BidaskClub cut shares of Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a research note on Saturday, December 12th. Mizuho assumed coverage on shares of Essential Properties Realty Trust in a research report on Tuesday, September 29th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Bank of America upped their target price on shares of Essential Properties Realty Trust from $16.00 to $17.50 and gave the stock an “underperform” rating in a report on Monday, November 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.75.

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its position in Essential Properties Realty Trust by 24.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,787 shares of the company’s stock valued at $51,000 after acquiring an additional 556 shares during the period. PNC Financial Services Group Inc. raised its holdings in Essential Properties Realty Trust by 78.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,877 shares of the company’s stock valued at $103,000 after acquiring an additional 3,030 shares during the period. Stifel Financial Corp bought a new position in Essential Properties Realty Trust in the 2nd quarter valued at about $153,000. Sei Investments Co. bought a new position in shares of Essential Properties Realty Trust during the second quarter worth approximately $171,000. Finally, Eii Capital Management Inc. increased its holdings in shares of Essential Properties Realty Trust by 11.2% during the third quarter. Eii Capital Management Inc. now owns 10,544 shares of the company’s stock worth $193,000 after purchasing an additional 1,065 shares during the period. 76.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Essential Properties Realty Trust stock opened at $20.48 on Monday. Essential Properties Realty Trust has a fifty-two week low of $6.08 and a fifty-two week high of $29.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 14.29 and a quick ratio of 14.29. The firm has a market capitalization of $2.14 billion, a P/E ratio of 35.93 and a beta of 1.32. The company’s 50 day moving average price is $20.94 and its two-hundred day moving average price is $18.40.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 30th. This represents a $0.96 annualized dividend and a yield of 4.69%. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.23. Essential Properties Realty Trust’s payout ratio is currently 152.38%.

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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.

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