Brokerages Set Essential Properties Realty Trust, Inc. (NYSE:EPRT) Price Target at $33.91

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $33.91.

Several research analysts recently weighed in on the company. Truist Financial boosted their target price on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company decreased their target price on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. UBS Group boosted their price target on Essential Properties Realty Trust from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Barclays initiated 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 price objective for the company. Finally, Scotiabank upped their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th.

Essential Properties Realty Trust Stock Up 0.5 %

Shares of NYSE:EPRT opened at $31.41 on Friday. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.69. Essential Properties Realty Trust has a 52-week low of $23.58 and a 52-week high of $34.88. The business’s 50 day moving average is $32.26 and its 200 day moving average is $31.94. The stock has a market cap of $5.51 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39.

Essential Properties Realty Trust (NYSE:EPRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). Essential Properties Realty Trust had a net margin of 46.00% and a return on equity of 6.20%. The company had revenue of $117.13 million during the quarter, compared to analysts’ expectations of $109.73 million. During the same quarter last year, the firm earned $0.42 EPS. Essential Properties Realty Trust’s revenue for the quarter was up 27.8% on a year-over-year basis. Sell-side analysts predict that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a dividend of $0.295 per share. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.76%. The ex-dividend date was Tuesday, December 31st. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 102.61%.

Institutional Investors Weigh In On Essential Properties Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Duff & Phelps Investment Management Co. purchased a new position in shares of Essential Properties Realty Trust during the 3rd quarter worth approximately $69,473,000. Massachusetts Financial Services Co. MA grew its position in shares of Essential Properties Realty Trust by 5,380.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,881,960 shares of the company’s stock worth $52,149,000 after buying an additional 1,847,618 shares in the last quarter. Adelante Capital Management LLC grew its stake in shares of Essential Properties Realty Trust by 3,964.9% during the third quarter. Adelante Capital Management LLC now owns 1,111,634 shares of the company’s stock worth $37,962,000 after purchasing an additional 1,084,287 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Essential Properties Realty Trust by 434.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,086,529 shares of the company’s stock valued at $37,105,000 after purchasing an additional 883,053 shares in the last quarter. Finally, APG Asset Management US Inc. acquired a new position in Essential Properties Realty Trust in the second quarter valued at $21,274,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.