Essential Properties Realty Trust (NYSE:EPRT) Updates FY24 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.72-$1.75 for the period, compared to the consensus earnings per share estimate of $1.86. Essential Properties Realty Trust also updated its FY 2024 guidance to 1.720-1.750 EPS.

Analysts Set New Price Targets

Several research analysts recently weighed in on EPRT shares. Mizuho dropped their price objective on shares of 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. Raymond James raised their price target on Essential Properties Realty Trust from $28.00 to $29.00 and gave the company an outperform rating in a report on Monday, January 8th. B. Riley reissued a buy rating and set a $29.00 price objective (up from $27.50) on shares of Essential Properties Realty Trust in a report on Wednesday, March 13th. Citigroup raised shares of Essential Properties Realty Trust from a neutral rating to a buy rating and raised their target price for the company from $25.00 to $28.50 in a research note on Friday, March 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Essential Properties Realty Trust from $27.00 to $27.50 and gave the stock a buy rating in a research note on Tuesday, March 19th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Essential Properties Realty Trust presently has an average rating of Buy and an average target price of $28.22.

Essential Properties Realty Trust Trading Up 0.2 %

EPRT traded up $0.05 during mid-day trading on Wednesday, hitting $26.33. The stock had a trading volume of 1,189,735 shares, compared to its average volume of 1,337,302. The stock’s fifty day simple moving average is $25.27 and its 200-day simple moving average is $24.45. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.91 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 company has a debt-to-equity ratio of 0.56, a current ratio of 5.01 and a quick ratio of 5.01.

Essential Properties Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued 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 presently 91.94%.

Insiders Place Their Bets

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 11,904 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $24.35, for a total transaction of $289,862.40. Following the sale, the chief executive officer now directly owns 571,606 shares in the company, valued at approximately $13,918,606.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 11,904 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $24.35, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter M. Mavoides sold 5,714 shares of Essential Properties Realty Trust stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $25.08, for a total value of $143,307.12. Following the completion of the sale, the chief executive officer now directly owns 565,892 shares in the company, valued at approximately $14,192,571.36. The disclosure for this sale can be found here. Insiders sold 44,524 shares of company stock worth $1,113,438 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

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.