Essential Properties Realty Trust (NYSE:EPRT) Issues FY 2019 Earnings Guidance

Essential Properties Realty Trust (NYSE:EPRT) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $1.11-1.15 for the period.

A number of brokerages have recently commented on EPRT. Zacks Investment Research lowered Essential Properties Realty Trust from a buy rating to a hold rating in a report on Monday, July 22nd. ValuEngine downgraded Essential Properties Realty Trust from a buy rating to a hold rating in a research report on Thursday, August 1st. Barclays reaffirmed a hold rating and issued a $18.00 target price on shares of Essential Properties Realty Trust in a research report on Tuesday, April 16th. Berenberg Bank initiated coverage on Essential Properties Realty Trust in a research report on Tuesday, April 23rd. They issued a buy rating on the stock. Finally, Boenning Scattergood set a $21.00 target price on Essential Properties Realty Trust and gave the company a buy rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Essential Properties Realty Trust has a consensus rating of Buy and a consensus price target of $20.24.

NYSE EPRT traded up $0.05 during trading on Wednesday, reaching $20.88. 653,815 shares of the company’s stock were exchanged, compared to its average volume of 718,101. The firm’s 50 day simple moving average is $20.43. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 0.49. Essential Properties Realty Trust has a fifty-two week low of $13.05 and a fifty-two week high of $21.83.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.14). The business had revenue of $31.11 million for the quarter, compared to analyst estimates of $29.27 million. Essential Properties Realty Trust had a return on equity of 2.40% and a net margin of 19.25%. As a group, research analysts anticipate that Essential Properties Realty Trust will post 1.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Thursday, June 27th. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.21.

In other news, major shareholder Eldridge Industries, Llc sold 26,288,316 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $19.55, for a total value of $513,936,577.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Gregg A. Seibert sold 24,352 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $19.82, for a total value of $482,656.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,356,559 shares of company stock worth $515,289,154. Company insiders own 2.10% of the company’s stock.

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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.

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Earnings History and Estimates for Essential Properties Realty Trust (NYSE:EPRT)

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