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

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.72-$1.75 for the period, compared to the consensus estimate of $1.89. Essential Properties Realty Trust also updated its FY 2024 guidance to 1.840-1.890 EPS.

Essential Properties Realty Trust Price Performance

Shares of NYSE EPRT opened at $32.60 on Friday. Essential Properties Realty Trust has a twelve month low of $20.61 and a twelve month high of $34.51. The company has a market cap of $5.71 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The business’s 50 day moving average price is $32.77 and its two-hundred day moving average price is $29.50. 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 (NYSE:EPRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The company had revenue of $117.13 million for the quarter, compared to analyst estimates of $109.73 million. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, analysts predict that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.56%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EPRT shares. Scotiabank increased their price target on Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Raymond James boosted their price target 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. UBS Group increased their price objective on shares of Essential Properties Realty Trust from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on shares of Essential Properties Realty Trust in a research report on Friday, June 28th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Wedbush began coverage on shares of Essential Properties Realty Trust in a research note on Monday, August 19th. They issued an “outperform” rating and a $34.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.06.

Insider Activity

In related news, CEO Peter M. Mavoides sold 27,817 shares of Essential Properties Realty Trust stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.33, for a total transaction of $899,323.61. Following the sale, the chief executive officer now directly owns 446,076 shares in the company, valued at $14,421,637.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.81% of the stock is currently owned by insiders.

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.