Essential Properties Realty Trust (NYSE:EPRT) Posts Earnings Results, Misses Estimates By $0.16 EPS

Essential Properties Realty Trust (NYSE:EPRT) posted its quarterly earnings results on Wednesday. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16), Yahoo Finance reports. Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The company had revenue of $117.13 million for the quarter, compared to analyst estimates of $109.73 million. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year.

Essential Properties Realty Trust Stock Performance

Shares of EPRT opened at $32.60 on Friday. The business’s fifty day moving average price is $32.77 and its 200 day moving average price is $29.50. Essential Properties Realty Trust has a 12-month low of $20.61 and a 12-month high of $34.51. The stock has a market capitalization of $5.71 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.90 and a quick ratio of 4.90.

Essential Properties Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Insider Buying and Selling

In related news, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total transaction of $899,323.61. Following the transaction, the chief executive officer now directly owns 446,076 shares in the company, valued at $14,421,637.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EPRT. Evercore ISI upped their price target on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 price objective (up from $34.00) on shares of Essential Properties Realty Trust in a research report on Tuesday, October 1st. Truist Financial boosted their price objective on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Essential Properties Realty Trust in a research report on Friday, June 28th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.06.

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.