Essential Properties Realty Trust, Inc. (NYSE:EPRT) to Issue $0.30 Quarterly Dividend

Essential Properties Realty Trust, Inc. (NYSE:EPRT - Get Free Report) announced a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.295 per share on Friday, April 11th. This represents a $1.18 annualized dividend and a yield of 3.79%. The ex-dividend date is Monday, March 31st.

Essential Properties Realty Trust has increased its dividend payment by an average of 5.1% per year over the last three years. Essential Properties Realty Trust has a payout ratio of 88.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Research analysts expect Essential Properties Realty Trust to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 59.6%.

Essential Properties Realty Trust Price Performance

NYSE EPRT traded down $0.45 during trading on Tuesday, reaching $31.12. The company's stock had a trading volume of 3,144,485 shares, compared to its average volume of 1,252,674. The stock has a market capitalization of $5.84 billion, a PE ratio of 27.29, a P/E/G ratio of 2.90 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.36 and a quick ratio of 5.36. The firm has a fifty day moving average of $31.67 and a 200 day moving average of $32.40. Essential Properties Realty Trust has a one year low of $24.72 and a one year high of $34.88.

Remove Ads

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.14. Essential Properties Realty Trust had a net margin of 45.15% and a return on equity of 6.12%. Analysts expect that Essential Properties Realty Trust will post 1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EPRT shares. B. Riley cut Essential Properties Realty Trust from a "buy" rating to a "neutral" rating and increased their target price for the company from $29.50 to $33.50 in a research note on Wednesday, February 19th. UBS Group lifted their price target on shares of Essential Properties Realty Trust from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Scotiabank cut their price objective on shares of Essential Properties Realty Trust from $33.00 to $32.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Essential Properties Realty Trust in a research report on Wednesday, December 11th. They issued a "buy" rating and a $38.00 target price on the stock. Finally, Capital One Financial initiated coverage on Essential Properties Realty Trust in a research note on Wednesday, February 12th. They set an "overweight" rating and a $35.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.48.

Insider Transactions at Essential Properties Realty Trust

In related news, Director Stephen D. Sautel sold 30,000 shares of Essential Properties Realty Trust stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $31.99, for a total transaction of $959,700.00. Following the completion of the transaction, the director now directly owns 218,785 shares of the company's stock, valued at $6,998,932.15. This trade represents a 12.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.81% 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 and dental services, convenience stores, equipment rental, entertainment, early childhood education, grocery, and health and fitness on a long-term basis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.