Essential Properties Realty Trust (NYSE:EPRT) Announces Quarterly Earnings Results

Essential Properties Realty Trust (NYSE:EPRT) released its quarterly earnings results on Wednesday. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16), Yahoo Finance reports. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The firm had revenue of $117.13 million for the quarter, compared to analysts’ expectations of $109.73 million. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis.

Essential Properties Realty Trust Stock Performance

Shares of NYSE EPRT traded down $0.62 during midday trading on Friday, reaching $32.74. 623,388 shares of the stock were exchanged, compared to its average volume of 1,341,141. 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 $5.74 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 2.78 and a beta of 1.37. The firm has a 50-day simple moving average of $32.71 and a two-hundred day simple moving average of $29.45. Essential Properties Realty Trust has a twelve month low of $20.61 and a twelve month high of $34.51.

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 given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio is currently 94.31%.

Insider Activity at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 27,817 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $32.33, for a total value of $899,323.61. Following the completion of the sale, the chief executive officer now owns 446,076 shares of the company’s stock, valued at approximately $14,421,637.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group increased their price target on shares of Essential Properties Realty Trust from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Raymond James increased their price objective on Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. 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 for the company. Evercore ISI raised their target price on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Scotiabank lifted their target price 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. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $33.06.

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.