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. As of December 31, 2021, it had a portfolio of 1, 451 properties. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2016 and is headquartered in Princeton, New Jersey.
Essential Properties Realty Trust Stock Down 0.1 %
NYSE:EPRT traded down $0.02 during trading hours on Monday, reaching $25.37. The company's stock had a trading volume of 631,561 shares, compared to its average volume of 900,017. The company has a market capitalization of $3.39 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 2.56 and a beta of 1.31. Essential Properties Realty Trust has a 12 month low of $19.73 and a 12 month high of $32.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.25 and a current ratio of 3.25. The stock has a 50 day moving average price of $22.51 and a two-hundred day moving average price of $23.85.
Essential Properties Realty Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 14th. Investors of record on Thursday, June 30th were paid a $0.27 dividend. This is an increase from Essential Properties Realty Trust's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, June 29th. This represents a $1.08 dividend on an annualized basis and a yield of 4.26%. Essential Properties Realty Trust's payout ratio is 113.68%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on EPRT. The Goldman Sachs Group lowered Essential Properties Realty Trust from a "buy" rating to a "neutral" rating and dropped their target price for the company from $31.00 to $26.00 in a research report on Wednesday, May 25th. Truist Financial dropped their target price on Essential Properties Realty Trust from $32.00 to $28.00 and set a "na" rating for the company in a research report on Monday, May 16th. Citigroup boosted their target price on Essential Properties Realty Trust to $24.00 in a research report on Tuesday, August 9th. Credit Suisse Group restated a "neutral" rating and set a $22.00 target price on shares of Essential Properties Realty Trust in a research report on Thursday, June 23rd. Finally, Evercore ISI set a $26.00 price target on shares of Essential Properties Realty Trust in a research note on Monday, June 20th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.39.
Insider Buying and Selling
In other Essential Properties Realty Trust news, CEO Peter M. Mavoides purchased 20,000 shares of Essential Properties Realty Trust stock in a transaction dated Monday, June 13th. The shares were acquired at an average cost of $20.68 per share, with a total value of $413,600.00. Following the completion of the transaction, the chief executive officer now owns 459,170 shares in the company, valued at approximately $9,495,635.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.27% of the stock is currently owned by insiders.