Essential Properties Realty Trust (NYSE:EPRT) Releases FY 2024 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.720-1.750 for the period, compared to the consensus 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.

Essential Properties Realty Trust Stock Performance

Shares of EPRT stock traded down $0.46 during trading hours on Thursday, reaching $25.87. The stock had a trading volume of 1,013,609 shares, compared to its average volume of 1,332,954. 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 has a twelve month low of $20.49 and a twelve month high of $26.77. The firm has a 50-day simple moving average of $25.27 and a 200-day simple moving average of $24.45. The firm has a market capitalization of $4.38 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27.

Essential Properties Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders 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 4.41%. Essential Properties Realty Trust’s payout ratio is 91.94%.

Analyst Upgrades and Downgrades

EPRT has been the topic of several recent research reports. Citigroup raised shares of Essential Properties Realty Trust from a neutral rating to a buy rating and lifted their price objective for the stock from $25.00 to $28.50 in a research note on Friday, March 22nd. BMO Capital Markets assumed coverage on Essential Properties Realty Trust in a research report on Tuesday, February 13th. They set an outperform rating and a $29.00 price objective for the company. Stifel Nicolaus increased their price objective 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. Raymond James increased their price objective on Essential Properties Realty Trust from $28.00 to $29.00 and gave the company an outperform rating in a research report on Monday, January 8th. Finally, 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. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $28.22.

Insider Transactions at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $26.01, for a total transaction of $238,979.88. Following the transaction, the chief executive officer now directly owns 554,904 shares of the company’s stock, valued at $14,433,053.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $26.01, for a total transaction of $238,979.88. Following the transaction, the chief executive officer now directly owns 554,904 shares of the company’s stock, valued at $14,433,053.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, 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. Over the last ninety days, insiders have sold 44,524 shares of company stock valued at $1,113,438. 0.81% of the stock is owned by 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.