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

Essential Properties Realty Trust (NYSE:EPRT) updated its FY 2024 earnings guidance on Wednesday. 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.

Essential Properties Realty Trust Trading Up 0.2 %

Shares of Essential Properties Realty Trust stock traded up $0.07 during trading on Wednesday, reaching $33.89. 986,583 shares of the stock were exchanged, compared to its average volume of 1,345,409. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.59. 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. Essential Properties Realty Trust has a 1 year low of $20.61 and a 1 year high of $34.51. The stock’s fifty day moving average is $32.56 and its 200 day moving average is $29.39.

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

Essential Properties Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.42%. The ex-dividend date was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 94.31%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EPRT. UBS Group raised their target price on shares of Essential Properties Realty Trust from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Scotiabank raised their price objective on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Stifel Nicolaus upped their target price on Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a report on Thursday, September 26th. Evercore ISI increased their target price on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Wedbush began coverage on Essential Properties Realty Trust in a research report on Monday, August 19th. They set an “outperform” rating and a $34.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $33.06.

Insider Buying and Selling

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 446,076 shares in the company, valued at approximately $14,421,637.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is currently owned by company insiders.

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.