Essential Properties Realty Trust, Inc. (NYSE:EPRT) Forecasted to Earn Q2 2024 Earnings of $0.42 Per Share

Essential Properties Realty Trust, Inc. (NYSE:EPRT) – Stock analysts at B. Riley lifted their Q2 2024 earnings per share estimates for shares of Essential Properties Realty Trust in a research note issued on Monday, April 29th. B. Riley analyst J. Massocca now forecasts that the company will earn $0.42 per share for the quarter, up from their prior estimate of $0.41. B. Riley has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for Essential Properties Realty Trust’s current full-year earnings is $1.68 per share. B. Riley also issued estimates for Essential Properties Realty Trust’s Q3 2024 earnings at $0.43 EPS, FY2024 earnings at $1.67 EPS, Q2 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.47 EPS.

A number of other research analysts have also commented on EPRT. Stifel Nicolaus upped their price objective on Essential Properties Realty Trust from $27.00 to $27.50 and gave the company a “buy” rating in a report on Tuesday, March 19th. Mizuho decreased their price objective on Essential Properties Realty Trust from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. BMO Capital Markets began coverage on Essential Properties Realty Trust in a report on Tuesday, February 13th. They issued an “outperform” rating and a $29.00 price objective on the stock. Raymond James increased their target price on Essential Properties Realty Trust from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, January 8th. Finally, Citigroup raised Essential Properties Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $28.50 in a report on Friday, March 22nd. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $28.22.

Essential Properties Realty Trust Stock Performance

Shares of NYSE EPRT opened at $26.91 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.61 and a quick ratio of 7.61. The stock’s fifty day moving average price is $25.46 and its two-hundred day moving average price is $24.63. Essential Properties Realty Trust has a one year low of $20.49 and a one year high of $27.40. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.95 and a beta of 1.26.

Hedge Funds Weigh In On Essential Properties Realty Trust

Large investors have recently bought and sold shares of the company. Deutsche Bank AG raised its position in Essential Properties Realty Trust by 31.4% in the third quarter. Deutsche Bank AG now owns 5,305,696 shares of the company’s stock valued at $114,762,000 after purchasing an additional 1,267,534 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Essential Properties Realty Trust by 9.0% in the third quarter. Daiwa Securities Group Inc. now owns 49,834 shares of the company’s stock valued at $1,078,000 after purchasing an additional 4,105 shares during the last quarter. Victory Capital Management Inc. raised its position in Essential Properties Realty Trust by 5.9% in the third quarter. Victory Capital Management Inc. now owns 1,133,159 shares of the company’s stock valued at $24,510,000 after purchasing an additional 63,496 shares during the last quarter. Rhumbline Advisers raised its position in shares of Essential Properties Realty Trust by 12.6% during the third quarter. Rhumbline Advisers now owns 556,319 shares of the company’s stock worth $12,033,000 after acquiring an additional 62,169 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of Essential Properties Realty Trust during the fourth quarter worth about $2,401,000. 96.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Peter M. Mavoides sold 5,714 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $25.08, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the completion of the transaction, the chief executive officer now directly owns 554,904 shares in the company, valued at $14,433,053.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter M. Mavoides sold 5,714 shares of the 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 transaction, the chief executive officer now owns 565,892 shares of the company’s stock, valued at $14,192,571.36. The disclosure for this sale can be found here. Insiders sold a total of 26,906 shares of company stock worth $674,749 in the last ninety days. 0.81% of the stock is owned by insiders.

Essential Properties Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.14 annualized dividend and a dividend yield of 4.24%. Essential Properties Realty Trust’s dividend payout ratio is currently 92.68%.

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.