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

Key Points

• Essential Properties Realty Trust, Inc. has declared a quarterly dividend of $0.30 per share, with a dividend yield of 3.9%, payable to stockholders of record on September 30th.
• The company has a current dividend payout ratio of 88.1%, but analysts project it will decrease to 59.6% next year, indicating stable earnings coverage for the dividend.
• Despite recent earnings results missing expectations, the stock is rated as "Moderate Buy" by analysts, with an average target price of $35.34.

Essential Properties Realty Trust, Inc. (NYSE:EPRT - Get Free Report) announced a quarterly dividend on Monday, September 8th, RTT News reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.30 per share on Tuesday, October 14th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%.

Essential Properties Realty Trust has a dividend 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. 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 Trading Down 0.6%

EPRT opened at $30.57 on Monday. Essential Properties Realty Trust has a one year low of $27.44 and a one year high of $34.88. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.39 and a beta of 1.08. The business has a 50 day simple moving average of $30.93 and a two-hundred day simple moving average of $31.58. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.67 and a quick ratio of 5.67.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $129.11 million during the quarter, compared to analysts' expectations of $131.72 million. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 44.48%.The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. Analysts predict that Essential Properties Realty Trust will post 1.83 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Scotiabank raised their price objective on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Barclays reduced their price target on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Finally, UBS Group increased their price target on shares of Essential Properties Realty Trust from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.34.

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.