Peter M. Mavoides, the President and CEO of Essential Properties Realty Trust , Inc. (NYSE:EPRT), has sold a portion of his company stock, according to a recent filing with the Securities and Exchange Commission (SEC). The transactions, which took place on March 21 and 22, resulted in a total sale value of $46,868.
The first sale occurred on March 21, where Mavoides sold 100 shares at a price of $26.00 each. The following day, he sold an additional 1,700 shares at a weighted average price of $26.04 per share. It is noted that the shares on the second day were sold in multiple transactions with prices ranging from $26.005 to $26.08. These sales were conducted under a Rule 10b5-1 trading plan, which was adopted by the reporting person on June 18, 2023.
After these transactions, Mavoides still holds a significant amount of Essential Properties Realty Trust stock, with 564,092 shares remaining in his possession. The SEC filing clarified that the CEO is willing to provide full information regarding the number of shares sold at each separate price within the range upon request.
Investors often keep a close eye on insider transactions like these as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it's important to note that insider sales can occur for various reasons and may not necessarily reflect a negative outlook.
Essential Properties Realty Trust, Inc., headquartered in Princeton, New Jersey, operates as a real estate investment trust, primarily engaged in the acquisition, ownership, management, and leasing of essential properties throughout the United States.
InvestingPro Insights
Following the recent insider transactions by Essential Properties Realty Trust, Inc. (NYSE:EPRT) CEO Peter M. Mavoides, it's worth considering the company's financial health and market performance to better understand the context of these sales. Essential Properties Realty Trust has demonstrated a solid track record, with a notable Market Cap of approximately $4.65 billion and a Price to Earnings (P/E) Ratio of 20.64, which, when adjusted for the last twelve months as of Q4 2023, stands at 27.22.
Investors may find comfort in the company's revenue growth, which has been impressive with a 25.51% increase over the last twelve months as of Q4 2023. This is complemented by a robust Gross Profit Margin of 98.73%, indicating the company's efficiency in managing its cost of sales and maintaining profitability.
Moreover, Essential Properties Realty Trust showcases a strong dividend profile, with an InvestingPro Tip highlighting that the company has raised its dividend for 6 consecutive years. This consistent increase in dividends can be attractive to income-focused investors, especially when combined with the company's solid financial performance. Additionally, analysts have a positive outlook with another InvestingPro Tip indicating that analysts anticipate sales growth in the current year, reinforcing the potential for continued financial success.
For investors seeking more detailed analysis and additional InvestingPro Tips, such as the company's trading patterns and liquidity position, Essential Properties Realty Trust's profile on InvestingPro offers a comprehensive suite of metrics. There are 6 additional tips available, which can be accessed by visiting: https://www.investing.com/pro/EPRT. To take advantage of these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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