Essential Properties Realty Trust (NYSE:EPRT) Issues FY24 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.72-$1.75 for the period, compared to the consensus EPS estimate of $1.89. Essential Properties Realty Trust also updated its FY 2024 guidance to 1.840-1.890 EPS.

Wall Street Analysts Forecast Growth

EPRT has been the topic of a number of recent analyst reports. Raymond James raised their target price on Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. The Goldman Sachs Group initiated coverage on shares of Essential Properties Realty Trust in a research note on Friday, June 28th. They set a “buy” rating and a $33.00 price objective on the stock. Wedbush initiated coverage on shares of Essential Properties Realty Trust in a research note on Monday, August 19th. They issued an “outperform” rating and a $34.00 target price for the company. Truist Financial lifted their price target 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. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $37.00 price objective (up previously from $34.00) on shares of Essential Properties Realty Trust in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $33.06.

Essential Properties Realty Trust Stock Up 0.2 %

Shares of EPRT traded up $0.07 during midday trading on Wednesday, hitting $33.89. The stock had a trading volume of 986,583 shares, compared to its average volume of 1,345,409. 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 firm has a market cap of $5.94 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company has a 50 day simple moving average of $32.56 and a two-hundred day simple moving average of $29.39. Essential Properties Realty Trust has a twelve month low of $20.61 and a twelve month high of $34.51.

Essential Properties Realty Trust (NYSE:EPRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.99 million. During the same period in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, analysts anticipate 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. Stockholders of record on Monday, September 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.42%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Insider Transactions at Essential Properties Realty Trust

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 completion of the transaction, the chief executive officer now owns 446,076 shares in the company, 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 at the SEC website. 0.81% of the stock is currently 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.