Essential Properties Realty Trust Inc (NYSE:EPRT) Announces $0.23 Quarterly Dividend

Essential Properties Realty Trust Inc (NYSE:EPRT) announced a quarterly dividend on Monday, June 15th, Zacks reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.23 per share on Wednesday, July 15th. This represents a $0.92 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Monday, June 29th.

Essential Properties Realty Trust has a dividend payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Essential Properties Realty Trust to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 76.0%.

Shares of NYSE EPRT opened at $15.63 on Friday. The company’s fifty day moving average is $15.00 and its 200-day moving average is $19.44. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 3.09 and a beta of 1.28. Essential Properties Realty Trust has a twelve month low of $6.08 and a twelve month high of $29.34. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 0.64.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The firm had revenue of $41.49 million for the quarter, compared to the consensus estimate of $41.38 million. Essential Properties Realty Trust had a return on equity of 4.24% and a net margin of 33.17%. On average, research analysts anticipate that Essential Properties Realty Trust will post 1.13 EPS for the current fiscal year.

EPRT has been the topic of a number of recent analyst reports. TheStreet cut shares of Essential Properties Realty Trust from a “c-” rating to a “d+” rating in a research report on Tuesday, April 7th. Citigroup reduced their price target on shares of Essential Properties Realty Trust from $26.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Royal Bank of Canada reissued a “sell” rating and set a $15.00 price target on shares of Essential Properties Realty Trust in a research report on Sunday, May 10th. SunTrust Banks reduced their price target on shares of Essential Properties Realty Trust from $27.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Finally, Zacks Investment Research raised shares of Essential Properties Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Essential Properties Realty Trust has an average rating of “Hold” and a consensus target price of $20.60.

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $11.42, for a total transaction of $228,400.00. Following the sale, the chief executive officer now directly owns 283,837 shares of the company’s stock, valued at approximately $3,241,418.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen D. Sautel purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $10.50 per share, for a total transaction of $52,500.00. Following the completion of the transaction, the director now directly owns 265,617 shares in the company, valued at $2,788,978.50. The disclosure for this purchase can be found here. Insiders purchased a total of 23,825 shares of company stock worth $282,976 over the last ninety days. 1.60% of the stock is currently owned by insiders.

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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.

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Dividend History for Essential Properties Realty Trust (NYSE:EPRT)

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