Essential Properties Realty Trust (NYSE:EPRT) Releases 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 (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 Up 0.2 %

NYSE EPRT traded up $0.07 during trading on Wednesday, hitting $33.89. The stock had a trading volume of 986,583 shares, compared to its average volume of 1,345,386. The company has a market capitalization of $5.94 billion, a PE ratio of 27.54, a P/E/G ratio of 2.78 and a beta of 1.37. The company’s 50-day moving average price is $32.56 and its two-hundred day moving average price is $29.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.90 and a current ratio of 4.90. Essential Properties Realty Trust has a 12 month low of $20.61 and a 12 month high of $34.51.

Essential Properties Realty Trust (NYSE:EPRT) last released its earnings results on Wednesday, July 24th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.13). The firm had revenue of $109.30 million during the quarter, compared to the consensus estimate of $102.99 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 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, sell-side analysts forecast that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders 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 3.42%. The ex-dividend date was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio is currently 94.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EPRT shares. Wells Fargo & Company reiterated an “overweight” rating and set a $37.00 price objective (up previously from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Evercore ISI upped their price objective on 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. The Goldman Sachs Group started coverage on 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. Scotiabank upped their price objective on Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Finally, Wedbush assumed coverage on Essential Properties Realty Trust in a report on Monday, August 19th. They set an “outperform” rating and a $34.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.06.

Insider Buying and Selling at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the transaction, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.81% of the company’s stock.

Essential Properties Realty Trust Company Profile

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.