Essential Properties Realty Trust Inc (NYSE:EPRT) Declares $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 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%.

NYSE:EPRT opened at $15.63 on Friday. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 3.09 and a beta of 1.28. The firm has a fifty day simple moving average of $15.00 and a two-hundred day simple moving average of $19.44. Essential Properties Realty Trust has a 12 month low of $6.08 and a 12 month high of $29.34.

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

In other news, Director Stephen D. Sautel purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $10.50 per share, with a total value of $52,500.00. Following the completion of the transaction, the director now directly owns 265,617 shares of the company’s stock, valued at $2,788,978.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter M. Mavoides sold 20,000 shares of the firm’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 transaction, the chief executive officer now directly owns 283,837 shares in the company, valued at $3,241,418.54. The disclosure for this sale can be found here. Insiders have purchased 23,825 shares of company stock worth $282,976 over the last three months. 1.60% of the stock is owned by insiders.

EPRT has been the subject of a number of research reports. Royal Bank of Canada restated a “sell” rating and issued a $15.00 price target on shares of Essential Properties Realty Trust in a report on Sunday, May 10th. Zacks Investment Research raised shares of Essential Properties Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, April 27th. Scotiabank lowered shares of Essential Properties Realty Trust from a “sector outperform” rating to a “sector perform” rating and set a $13.00 price objective on the stock. in a research note on Thursday, April 16th. TheStreet lowered shares of Essential Properties Realty Trust from a “c-” rating to a “d+” rating in a research note on Tuesday, April 7th. Finally, Citigroup dropped their price objective on shares of Essential Properties Realty Trust from $26.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Essential Properties Realty Trust presently has a consensus rating of “Hold” and an average target price of $20.60.

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 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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