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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. B. Riley reissued a buy rating and set a $29.00 price target (up previously from $27.50) on shares of Essential Properties Realty Trust in a report on Wednesday, March 13th. Mizuho reduced their price objective on Essential Properties Realty Trust from $27.00 to $26.00 and set a buy rating on the stock in a research report on Thursday, March 7th. Raymond James boosted their price objective on Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an outperform rating in a research report on Monday, January 8th. Stifel Nicolaus upped their price target on Essential Properties Realty Trust from $27.00 to $27.50 and gave the company a buy rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets started coverage on Essential Properties Realty Trust in a research note on Tuesday, February 13th. They issued an outperform rating and a $29.00 price target for the company. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Essential Properties Realty Trust has an average rating of Buy and an average price target of $28.22.

Essential Properties Realty Trust Trading Up 0.2 %

NYSE EPRT traded up $0.05 during trading hours on Wednesday, hitting $26.33. 1,189,735 shares of the company’s stock were exchanged, compared to its average volume of 1,337,302. The stock has a 50-day simple moving average of $25.27 and a 200 day simple moving average of $24.45. Essential Properties Realty Trust has a 1-year low of $20.49 and a 1-year high of $26.77. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.91 and a beta of 1.27. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.56.

Essential Properties Realty Trust Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, March 27th. This represents a $1.14 annualized dividend and a yield of 4.33%. Essential Properties Realty Trust’s dividend payout ratio is currently 91.94%.

Insider Buying and Selling

In related news, CEO Peter M. Mavoides sold 9,188 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total transaction of $238,979.88. Following the completion of the sale, the chief executive officer now owns 554,904 shares of the company’s stock, valued at $14,433,053.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the transaction, the chief executive officer now owns 554,904 shares in the company, valued at $14,433,053.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter M. Mavoides sold 11,904 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $24.35, for a total value of $289,862.40. Following the completion of the transaction, the chief executive officer now owns 571,606 shares in the company, valued at approximately $13,918,606.10. The disclosure for this sale can be found here. Insiders sold 44,524 shares of company stock valued at $1,113,438 over the last 90 days. Company 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.