Essential Properties Realty Trust, Inc. (EPRT) to Issue Quarterly Dividend of $0.30 on January 14th

Essential Properties Realty Trust, Inc. (NYSE:EPRT) announced a quarterly dividend on Monday, December 9th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.295 per share on Tuesday, January 14th. This represents a $1.18 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.29.

Essential Properties Realty Trust has raised its dividend payment by an average of 6.4% per year over the last three years. Essential Properties Realty Trust has a dividend payout ratio of 92.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Essential Properties Realty Trust to earn $1.82 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 64.8%.

Essential Properties Realty Trust Trading Down 2.0 %

NYSE:EPRT opened at $31.34 on Friday. The company has a market cap of $5.49 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. Essential Properties Realty Trust has a twelve month low of $23.58 and a twelve month high of $34.88. The business has a 50 day moving average price of $32.78 and a two-hundred day moving average price of $31.43. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.69.

Essential Properties Realty Trust (NYSE:EPRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.16). Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 46.00%. The business had revenue of $117.13 million for the quarter, compared to analyst estimates of $109.73 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, analysts expect that Essential Properties Realty Trust will post 1.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on EPRT shares. Deutsche Bank Aktiengesellschaft started coverage on 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. Barclays assumed coverage on Essential Properties Realty Trust in a research report on Tuesday, December 17th. They set an “overweight” rating and a $35.94 price target on the stock. Truist Financial increased their price objective on Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Scotiabank boosted their target price on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Finally, 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. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

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.