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 1.720-1.750 for the period, compared to the consensus earnings per share estimate of 1.870. The company issued revenue guidance of -. Essential Properties Realty Trust also updated its FY24 guidance to $1.72-$1.75 EPS.

Analysts Set New Price Targets

Several research firms have recently commented on EPRT. Raymond James upped their price target on Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an outperform rating in a research note on Monday, January 8th. Mizuho cut their price objective on Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating for the company in a research report on Thursday, March 7th. Stifel Nicolaus increased their price objective on Essential Properties Realty Trust from $27.00 to $27.50 and gave the stock a buy rating in a research report on Tuesday, March 19th. Citigroup upgraded Essential Properties Realty Trust from a neutral rating to a buy rating and increased their price objective for the stock from $25.00 to $28.50 in a research report on Friday, March 22nd. Finally, BMO Capital Markets started coverage on Essential Properties Realty Trust in a research report on Tuesday, February 13th. They issued an outperform rating and a $29.00 price objective for the company. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Essential Properties Realty Trust has a consensus rating of Buy and an average price target of $28.22.

Essential Properties Realty Trust Price Performance

Essential Properties Realty Trust stock traded down $0.04 during trading hours on Friday, hitting $25.69. The stock had a trading volume of 2,014,005 shares, compared to its average volume of 1,057,869. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.61 and a quick ratio of 5.01. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.90 and a beta of 1.27. Essential Properties Realty Trust has a 1-year low of $20.49 and a 1-year high of $26.77. The stock’s fifty day moving average is $25.32 and its two-hundred day moving average is $24.49.

Essential Properties Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Wednesday, March 27th. Essential Properties Realty Trust’s payout ratio is currently 92.68%.

Insider Activity at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 17,618 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $24.90, for a total transaction of $438,688.20. Following the sale, the chief executive officer now owns 353,303 shares of the company’s stock, valued at $8,797,244.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the sale, the chief executive officer now directly owns 554,904 shares of the company’s stock, valued at approximately $14,433,053.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Peter M. Mavoides sold 17,618 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $24.90, for a total value of $438,688.20. Following the completion of the sale, the chief executive officer now directly owns 353,303 shares in the company, valued at $8,797,244.70. The disclosure for this sale can be found here. Insiders have sold a total of 44,524 shares of company stock valued at $1,113,438 over the last quarter. 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.