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

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

Essential Properties Realty Trust Trading Down 2.3 %

EPRT traded down $0.76 during mid-day trading on Friday, hitting $32.60. The stock had a trading volume of 1,049,930 shares, compared to its average volume of 1,343,201. The stock's fifty day simple moving average is $32.71 and its 200-day simple moving average is $29.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.90 and a quick ratio of 4.90. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. Essential Properties Realty Trust has a 1-year low of $20.61 and a 1-year high of $34.51.

Essential Properties Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.56%. Essential Properties Realty Trust's dividend payout ratio (DPR) is presently 94.31%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EPRT shares. Wells Fargo & Company reissued an "overweight" rating and set a $37.00 price target (up from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Raymond James increased their price target on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an "outperform" rating in a research note on Wednesday, August 21st. Evercore ISI increased their price target on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Scotiabank raised their price objective on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the company a "sector perform" rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Essential Properties Realty Trust in a research note on Friday, June 28th. They issued a "buy" rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Essential Properties Realty Trust presently has an average rating of "Moderate Buy" and an average price target of $33.06.

Insiders Place Their Bets

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the stock in a transaction on 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 in the company, valued at approximately $14,421,637.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.81% of the company's stock.

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.