Essential Properties Realty Trust (NYSE:EPRT) Issues Quarterly Earnings Results, Misses Expectations By $0.16 EPS

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

Essential Properties Realty Trust Price Performance

Shares of Essential Properties Realty Trust stock traded down $0.76 during trading on Friday, reaching $32.60. The company’s stock had a trading volume of 1,031,392 shares, compared to its average volume of 1,343,112. The business has a 50 day moving average price of $32.71 and a 200-day moving average price of $29.45. The company has a market capitalization of $5.71 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.59. Essential Properties Realty Trust has a 12-month low of $20.61 and a 12-month high of $34.51.

Essential Properties Realty Trust Announces Dividend

The firm also recently announced 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 3.56%. The ex-dividend date was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 94.31%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a report on Thursday, September 26th. Scotiabank increased their target price on Essential Properties Realty Trust from $30.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Wedbush initiated coverage on Essential Properties Realty Trust in a report on Monday, August 19th. They set an “outperform” rating and a $34.00 price target for the company. Wells Fargo & Company restated an “overweight” rating and set a $37.00 target price (up previously from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Finally, 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 note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.06.

Insiders Place Their Bets

In other news, CEO Peter M. Mavoides sold 27,817 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total transaction of $899,323.61. Following the sale, the chief executive officer now owns 446,076 shares of the company’s stock, valued at $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 is available 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.