Essential Properties Realty Trust (NYSE:EPRT) Price Target Cut to $34.00 by Analysts at Wells Fargo & Company

Essential Properties Realty Trust (NYSE:EPRT) had its price objective cut by Wells Fargo & Company from $37.00 to $34.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on EPRT. Scotiabank upped their target price on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. UBS Group raised their price objective on Essential Properties Realty Trust from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their target price on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Truist Financial increased their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Stifel Nicolaus lifted their price objective on Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Essential Properties Realty Trust Price Performance

EPRT opened at $32.08 on Monday. The company has a fifty day moving average price of $32.90 and a two-hundred day moving average price of $29.91. 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 firm has a market capitalization of $5.62 billion, a PE ratio of 27.90, a P/E/G ratio of 2.69 and a beta of 1.37. Essential Properties Realty Trust has a 52 week low of $22.32 and a 52 week high of $34.51.

Essential Properties Realty Trust (NYSE:EPRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16). The company had revenue of $117.13 million during the quarter, compared to analyst estimates of $109.73 million. Essential Properties Realty Trust had a net margin of 46.00% and a return on equity of 6.20%. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. As a group, analysts anticipate that Essential Properties Realty Trust will post 1.68 earnings per share for the current year.

Essential Properties Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.62%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 100.87%.

Insider Transactions at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 27,817 shares of Essential Properties Realty Trust stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the sale, the chief executive officer now owns 446,076 shares of the company’s stock, valued at approximately $14,421,637.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.81% of the company’s stock.

Institutional Trading of Essential Properties Realty Trust

A number of large investors have recently added to or reduced their stakes in EPRT. Napa Wealth Management raised its holdings in shares of Essential Properties Realty Trust by 22.2% in the 3rd quarter. Napa Wealth Management now owns 9,745 shares of the company’s stock valued at $333,000 after purchasing an additional 1,771 shares during the period. Prudent Man Advisors LLC acquired a new position in Essential Properties Realty Trust during the third quarter worth approximately $423,000. Swiss National Bank raised its stake in Essential Properties Realty Trust by 2.7% in the third quarter. Swiss National Bank now owns 342,200 shares of the company’s stock valued at $11,686,000 after buying an additional 8,900 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Essential Properties Realty Trust by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 1,712,800 shares of the company’s stock valued at $58,492,000 after buying an additional 66,058 shares during the last quarter. Finally, Nicola Wealth Management LTD. boosted its stake in shares of Essential Properties Realty Trust by 8.2% during the 3rd quarter. Nicola Wealth Management LTD. now owns 41,061 shares of the company’s stock worth $1,402,000 after acquiring an additional 3,100 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

About Essential Properties Realty Trust

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.