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

Essential Properties Realty Trust, Inc. (NYSE:EPRT) announced a quarterly dividend on Monday, December 9th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.295 per share on Tuesday, January 14th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Tuesday, December 31st. This is an increase 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% annually 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 tumble. Equities 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 %

EPRT stock opened at $31.34 on Friday. Essential Properties Realty Trust has a 52 week low of $23.58 and a 52 week high of $34.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59. The company’s 50-day simple moving average is $32.78 and its 200 day simple moving average is $31.43. The company has a market capitalization of $5.49 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38.

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 the consensus estimate of $109.73 million. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Essential Properties Realty Trust will post 1.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

EPRT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Essential Properties Realty Trust in a research report on Wednesday, December 11th. They set a “buy” rating and a $38.00 target price for the company. Truist Financial upped their price objective on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Evercore ISI increased their price objective on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays started coverage on shares of Essential Properties Realty Trust in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $35.94 target price for the company. Finally, UBS Group increased their price target on shares of Essential Properties Realty Trust from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target 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.