Essential Properties Realty Trust (EPRT) to Release Quarterly Earnings on Wednesday

Essential Properties Realty Trust (NYSE:EPRT) is scheduled to announce its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Essential Properties Realty Trust has set its FY 2024 guidance at 1.720-1.750 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly 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 business had revenue of $109.30 million for the quarter, compared to analysts’ expectations of $102.99 million. Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share. On average, analysts expect Essential Properties Realty Trust to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Essential Properties Realty Trust Price Performance

NYSE:EPRT opened at $34.15 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.90 and a quick ratio of 4.90. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company has a 50 day moving average price of $32.40 and a 200-day moving average price of $29.25. Essential Properties Realty Trust has a 1-year low of $20.49 and a 1-year high of $34.51.

Essential Properties Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 94.31%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $37.00 target price (up from $34.00) on shares of Essential Properties Realty Trust in a report on Tuesday, October 1st. Raymond James lifted their target price on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Stifel Nicolaus lifted their target price on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group lifted their price target on shares of Essential Properties Realty Trust from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Truist Financial lifted their price target on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Essential Properties Realty Trust has an average rating of “Moderate Buy” and an average price target of $33.06.

Insiders Place Their Bets

In other news, CEO Peter M. Mavoides sold 27,817 shares of Essential Properties Realty Trust stock in a transaction 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 transaction, the chief executive officer now owns 446,076 shares in the company, valued at $14,421,637.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.