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

by · The Markets Daily

Essential Properties Realty Trust (NYSE:EPRT – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.840-1.890 for the period, compared to the consensus estimate of 2.040. 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 recently weighed in on the company. Truist Financial lifted their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group began coverage on Essential Properties Realty Trust in a research report on Friday, June 28th. They set a “buy” rating and a $33.00 price objective for the company. Evercore ISI raised their price objective on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. UBS Group raised their price objective on Essential Properties Realty Trust from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus raised their price objective on Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.06.

Get Our Latest Research Report on Essential Properties Realty Trust

Essential Properties Realty Trust Price Performance

NYSE EPRT traded up $0.07 during trading on Wednesday, reaching $33.89. 986,583 shares of the company traded hands, compared to its average volume of 1,345,386. Essential Properties Realty Trust has a 1-year low of $20.61 and a 1-year high of $34.51. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 2.78 and a beta of 1.37. The stock’s 50 day moving average price is $32.56 and its two-hundred day moving average price is $29.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.90 and a current ratio of 4.90.

Essential Properties Realty Trust (NYSE:EPRT – Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13). The company had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.99 million. Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. As a group, analysts anticipate that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.42%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Insider Buying and Selling

In related news, CEO Peter M. Mavoides sold 27,817 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by corporate insiders.

About Essential Properties Realty Trust

(Get Free Report)

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.

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