Essential Properties Realty Trust (NYSE:EPRT) Issues FY 2024 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.840-1.890 for the period, compared to the consensus estimate of 2.040. The company issued revenue guidance of -. Essential Properties Realty Trust also updated its FY24 guidance to $1.72-$1.75 EPS.

Essential Properties Realty Trust Stock Performance

EPRT stock opened at $32.60 on Friday. The company has a 50 day moving average price of $32.77 and a 200 day moving average price of $29.50. Essential Properties Realty Trust has a fifty-two week low of $20.61 and a fifty-two week high of $34.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.90 and a quick ratio of 4.90. 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.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). The firm had revenue of $117.13 million for the quarter, compared to analyst estimates of $109.73 million. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The company’s revenue was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Analysts forecast that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend 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 94.31%.

Analyst Upgrades and Downgrades

Several brokerages have commented on EPRT. Stifel Nicolaus upped their target price on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a research report on Thursday, September 26th. Truist Financial raised their target price on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Scotiabank increased their price target on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Wedbush began coverage on shares of Essential Properties Realty Trust in a report on Monday, August 19th. They set an “outperform” rating and a $34.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Essential Properties Realty Trust in a research report on Friday, June 28th. They set a “buy” rating and a $33.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $33.06.

Insider Activity at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.33, for a total transaction of $899,323.61. Following the completion of the transaction, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by 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.