In a recent transaction, Peter M. Mavoides, President and CEO of Essential Properties Realty Trust , Inc. (NYSE:EPRT), sold 12,712 shares of the company’s common stock, resulting in total proceeds of over $356,000. The shares were sold at a weighted average price of $28.03, with individual transactions ranging from $28.00 to $28.08 per share.
This sale was conducted in accordance with a Rule 10b5-1 trading plan, which Mavoides had adopted on March 14, 2024. Rule 10b5-1 trading plans allow company insiders to establish predetermined trading arrangements for selling stock and are often used to avoid concerns about insider trading.
Following the sale, Mavoides still owns a substantial amount of Essential Properties stock, with 500,552 shares remaining in his possession. The transaction was executed directly, indicating that the shares sold were personally held by Mavoides.
Investors and followers of Essential Properties Realty Trust, Inc. may request more detailed information about the exact prices at which the shares were sold within the stated range. This information can be provided by Mavoides upon request to Essential Properties Realty Trust, Inc., its security holders, or the Securities and Exchange Commission staff.
Essential Properties Realty Trust, Inc. is a real estate investment trust that focuses on single-tenant properties. It is incorporated in Maryland and has its business address in Princeton, New Jersey. The company’s shares are traded on the New York Stock Exchange under the ticker symbol EPRT.
In other recent news, Essential Properties Realty Trust has been the subject of significant analyst attention. Goldman Sachs (NYSE:GS) issued a Buy rating for the company, predicting substantial earnings growth due to a consistent volume of acquisitions. Similarly, UBS initiated coverage on Essential Properties, assigning a Buy rating and anticipating growth in adjusted funds from operations for 2024 and 2025 due to expected significant acquisition opportunities.
Scotiabank also updated its outlook on Essential Properties, raising the price target while maintaining a Sector Perform rating. The firm forecasts growth in adjusted funds from operations per share of 5.2% in 2024 and 7.3% in 2025. B.Riley adjusted the price target for Essential Properties upward while maintaining a Buy rating, highlighting the company's strong performance despite a challenging economic climate.
These are recent developments in the company's operations and financial outlook, indicating a general positive sentiment from analysts towards Essential Properties Realty Trust's future performance.
InvestingPro Insights
As Essential Properties Realty Trust, Inc. (NYSE:EPRT) navigates the market, investors are closely monitoring its financial health and stock performance. Recent data from InvestingPro provides a snapshot of the company's current valuation and performance metrics. With a market capitalization of approximately $4.89 billion, Essential Properties boasts a Price-to-Earnings (P/E) ratio of 22.64, which reflects investor expectations for future earnings. However, when adjusted for the last twelve months as of Q1 2024, the P/E ratio climbs to 27.47. This higher P/E ratio suggests that investors are willing to pay a premium for the company's earnings potential.
InvestingPro Tips highlight that Essential Properties has consistently raised its dividend for six consecutive years, which could be a sign of the company's commitment to returning value to shareholders. Additionally, analysts have revised their earnings upwards for the upcoming period, indicating a positive outlook on the company's financial performance. With a robust revenue growth of 26.44% over the last twelve months as of Q1 2024, Essential Properties demonstrates its ability to increase its earnings, which may justify the higher P/E ratio.
For those interested in further analysis and more InvestingPro Tips, such as the company's liquidity position and its performance relative to its 52-week high, Essential Properties Realty Trust, Inc. has additional tips available on InvestingPro. To access these insights and more, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. With a total of 7 additional InvestingPro Tips listed on the site, investors can gain a more comprehensive understanding of EPRT's investment profile.
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