Peter M. Mavoides, the President and CEO of Essential Properties Realty Trust , Inc. (NYSE:EPRT), has sold a total of 9,188 shares of common stock in the company, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on March 26, 2024, amounted to nearly $239,000, with the shares being sold at a weighted average price of $26.01.
The SEC filing indicates that the sales were carried out under a pre-arranged Rule 10b5-1 trading plan, which was adopted by Mavoides on June 18, 2023. Such plans allow corporate insiders to sell a predetermined number of shares at a predetermined time, providing a defense against potential accusations of trading on nonpublic information.
Investors might find the price range for these transactions noteworthy; the shares were sold at prices varying from $26.00 to $26.035. Following these transactions, Mavoides still owns a substantial stake in the company, with 554,904 shares of Essential Properties Realty Trust remaining under his direct ownership.
Essential Properties Realty Trust, based in Princeton, New Jersey, operates as a real estate investment trust, focusing on acquiring, owning, and managing single-tenant properties leased to service-oriented and experience-based businesses.
The SEC form did not provide specific details on the purpose of the sale. However, it is common for executives to sell shares for reasons such as diversification, liquidity, or personal financial planning. Shareholders and potential investors often monitor such insider transactions for insights into executive confidence and company health, although these sales do not always indicate a change in company prospects.
Interested parties can request detailed information regarding the number of shares sold at each separate price within the range from Essential Properties Realty Trust, the SEC, or directly from Peter M. Mavoides.
InvestingPro Insights
In light of the recent insider trading activity at Essential Properties Realty Trust, Inc. (NYSE:EPRT), investors may find additional context in the real-time data and insights from InvestingPro. The company has demonstrated financial growth and stability, which can be seen through several key metrics:
- The Market Cap of Essential Properties Realty Trust stands at $4.81 billion USD, reflecting the company's substantial size within the real estate investment trust market.
- With a P/E Ratio (Adjusted) for the last twelve months as of Q4 2023 at 28.2, and a PEG Ratio of 0.96, the company shows a balance between its earnings valuation and expected earnings growth.
- Essential Properties Realty Trust has achieved a notable Revenue Growth of 25.51% over the last twelve months as of Q4 2023, indicating a robust expansion in its revenue streams.
Moreover, two InvestingPro Tips that may be particularly relevant for investors considering the implications of the CEO's stock sale are:
- Analysts are optimistic about the company's future, as Essential Properties Realty Trust has raised its dividend for 6 consecutive years, signaling confidence in its financial health and commitment to shareholder returns.
- There is also a positive outlook on the company's sales, with analysts anticipating sales growth in the current year, which could suggest a favorable environment for the company's business model.
For investors seeking a deeper analysis, there are 11 additional InvestingPro Tips available, which can be accessed by visiting InvestingPro for EPRT. These insights could provide a more comprehensive understanding of Essential Properties Realty Trust's financial position and market performance.
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