Essential Properties Realty Trust (NYSE:EPRT) Issues Earnings Results, Misses Estimates By $0.16 EPS

Essential Properties Realty Trust (NYSE:EPRT) released its quarterly earnings data on Wednesday. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16), Yahoo Finance reports. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The business had revenue of $117.13 million during the quarter, compared to the consensus estimate of $109.73 million. During the same period last year, the company posted $0.42 earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year.

Essential Properties Realty Trust Trading Down 1.7 %

NYSE:EPRT traded down $0.57 during midday trading on Friday, hitting $32.79. 590,638 shares of the company traded hands, compared to its average volume of 1,340,878. The firm has a market capitalization of $5.75 billion, a P/E ratio of 26.71, a P/E/G ratio of 2.78 and a beta of 1.37. The firm’s fifty day moving average is $32.71 and its 200-day moving average is $29.45. Essential Properties Realty Trust has a 12-month low of $20.61 and a 12-month high of $34.51. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59.

Essential Properties Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 94.31%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 price objective (up from $34.00) on shares of Essential Properties Realty Trust in a report on Tuesday, October 1st. Wedbush began coverage on shares of Essential Properties Realty Trust in a report on Monday, August 19th. They set an “outperform” rating and a $34.00 price objective for the company. Evercore ISI raised their target price on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Stifel Nicolaus boosted 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 research note on Thursday, September 26th. Finally, Raymond James raised their price target on Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.06.

Insiders Place Their Bets

In related news, CEO Peter M. Mavoides sold 27,817 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.33, for a total value of $899,323.61. Following the sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.