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 1.840-1.890 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

EPRT has been the subject of a number of analyst reports. Scotiabank upped their price objective 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. Evercore ISI upped their target price on Essential Properties Realty Trust from $33.00 to $34.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company reissued an “overweight” rating and set a $37.00 price target (up previously from $34.00) on shares of Essential Properties Realty Trust in a research report on Tuesday, October 1st. UBS Group increased their price objective on shares of Essential Properties Realty Trust from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Wedbush started coverage on Essential Properties Realty Trust in a research report on Monday, August 19th. They issued an “outperform” rating and a $34.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.06.

Essential Properties Realty Trust Trading Down 1.5 %

NYSE EPRT traded down $0.51 on Thursday, hitting $33.38. 716,240 shares of the stock were exchanged, compared to its average volume of 1,342,358. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 2.78 and a beta of 1.37. Essential Properties Realty Trust has a 52-week low of $20.61 and a 52-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 company’s 50-day moving average price is $32.64 and its two-hundred day moving average price is $29.43.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.13). Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The company had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.99 million. During the same quarter in the prior year, the company posted $0.41 EPS. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. Research analysts predict that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust’s payout ratio is presently 94.31%.

Insiders Place Their Bets

In other news, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.81% of the company’s stock.

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.