Essential Properties Realty Trust (NYSE:EPRT) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS
by Teresa Graham · The Cerbat GemEssential Properties Realty Trust (NYSE:EPRT – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.05), FiscalAI reports. The firm had revenue of $158.80 million for the quarter, compared to the consensus estimate of $151.87 million. Essential Properties Realty Trust had a return on equity of 6.44% and a net margin of 45.08%.
Essential Properties Realty Trust Stock Performance
Essential Properties Realty Trust stock traded down $0.80 during mid-day trading on Wednesday, reaching $32.16. The company had a trading volume of 2,352,682 shares, compared to its average volume of 2,098,424. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.60. Essential Properties Realty Trust has a 52 week low of $28.95 and a 52 week high of $34.73. The company has a 50 day moving average of $32.48 and a 200-day moving average of $31.19. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.91 and a beta of 0.99.
Essential Properties Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.24 dividend on an annualized basis and a yield of 3.9%. Essential Properties Realty Trust’s dividend payout ratio is 96.88%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on EPRT shares. Mizuho upped their price target on shares of Essential Properties Realty Trust from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a report on Tuesday, February 17th. Raymond James Financial upgraded shares of Essential Properties Realty Trust from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $35.00 to $37.00 in a report on Tuesday, March 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Finally, Scotiabank upped their price target on shares of Essential Properties Realty Trust from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $36.90.
Read Our Latest Stock Analysis on Essential Properties Realty Trust
Insiders Place Their Bets
In other Essential Properties Realty Trust news, CFO Robert Webb Salisbury sold 5,851 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $31.88, for a total value of $186,529.88. Following the completion of the sale, the chief financial officer directly owned 8,310 shares of the company’s stock, valued at $264,922.80. This represents a 41.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP A Joseph Peil sold 19,657 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $32.10, for a total transaction of $630,989.70. Following the completion of the sale, the vice president directly owned 76,525 shares of the company’s stock, valued at approximately $2,456,452.50. This trade represents a 20.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is owned by corporate insiders.
Institutional Trading of Essential Properties Realty Trust
A number of hedge funds have recently bought and sold shares of EPRT. Royal Bank of Canada boosted its holdings in Essential Properties Realty Trust by 159.4% in the 1st quarter. Royal Bank of Canada now owns 74,147 shares of the company’s stock valued at $2,420,000 after purchasing an additional 45,561 shares during the period. AQR Capital Management LLC raised its stake in shares of Essential Properties Realty Trust by 21.8% in the 1st quarter. AQR Capital Management LLC now owns 22,244 shares of the company’s stock valued at $726,000 after buying an additional 3,981 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Essential Properties Realty Trust by 16.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,387,218 shares of the company’s stock valued at $45,279,000 after buying an additional 195,057 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Essential Properties Realty Trust in the 1st quarter valued at $2,350,000. Finally, First Trust Advisors LP raised its stake in shares of Essential Properties Realty Trust by 28.4% in the 2nd quarter. First Trust Advisors LP now owns 145,784 shares of the company’s stock valued at $4,652,000 after buying an additional 32,254 shares in the last quarter. 96.98% of the stock is owned by institutional investors.
Essential Properties Realty Trust Company Profile
Essential Properties Realty Trust, Inc (NYSE: EPRT) is a self-administered real estate investment trust that acquires, owns and manages single-tenant commercial properties subject to long-term, triple-net leases. The company’s portfolio primarily consists of small-box retail and industrial assets, including convenience stores, automotive service centers, quick-service restaurants, fitness centers and other necessity-based businesses. Under a triple-net lease structure, tenants assume responsibility for property taxes, insurance and most maintenance expenses, providing Essential Properties with predictable, stable cash flows.
Since its founding in April 2016 and its initial public offering later that year, Essential Properties has pursued a growth strategy focused on partnering with creditworthy tenants operating in densely populated trade areas.