Evercore ISI Raises Essential Properties Realty Trust (NYSE:EPRT) Price Target to $34.00

Essential Properties Realty Trust (NYSE:EPRT) had its price objective hoisted by Evercore ISI from $33.00 to $34.00 in a report published on Monday, Benzinga reports. They currently have an in-line rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group upped their price objective on Essential Properties Realty Trust from $30.00 to $35.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Wedbush initiated coverage on Essential Properties Realty Trust in a research note on Monday, August 19th. They issued an outperform rating and a $34.00 price objective for the company. Wells Fargo & Company upped their price objective on Essential Properties Realty Trust from $31.00 to $34.00 and gave the stock an overweight rating in a research note on Monday, August 26th. Scotiabank upped their price objective on Essential Properties Realty Trust from $28.00 to $30.00 and gave the stock a sector perform rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group initiated coverage on Essential Properties Realty Trust in a research note on Friday, June 28th. They issued a buy rating and a $33.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Essential Properties Realty Trust presently has a consensus rating of Moderate Buy and an average price target of $31.81.

Essential Properties Realty Trust Stock Performance

NYSE:EPRT opened at $33.65 on Monday. The stock has a 50-day simple moving average of $30.72 and a two-hundred day simple moving average of $27.99. Essential Properties Realty Trust has a 52-week low of $20.49 and a 52-week high of $33.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.90 and a current ratio of 4.90. The firm has a market capitalization of $5.90 billion, a PE ratio of 27.36, a P/E/G ratio of 2.73 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.13). Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The company had revenue of $109.30 million for the quarter, compared to the consensus estimate of $102.99 million. During the same period in the prior year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts forecast that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, September 30th. Essential Properties Realty Trust’s payout ratio is 94.31%.

Insider Activity at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 20,863 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $27.54, for a total value of $574,567.02. Following the completion of the transaction, the chief executive officer now owns 514,464 shares of the company’s stock, valued at approximately $14,168,338.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Peter M. Mavoides sold 27,817 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.33, for a total value of $899,323.61. Following the sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at approximately $14,421,637.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter M. Mavoides sold 20,863 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $27.54, for a total transaction of $574,567.02. Following the completion of the sale, the chief executive officer now directly owns 514,464 shares in the company, valued at $14,168,338.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,592 shares of company stock valued at $1,863,808. Insiders own 0.81% of the company’s stock.

Institutional Trading of Essential Properties Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPRT. Principal Securities Inc. purchased a new stake in Essential Properties Realty Trust in the 4th quarter worth about $31,000. Dimensional Fund Advisors LP increased its position in shares of Essential Properties Realty Trust by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,226,757 shares of the company’s stock worth $56,918,000 after acquiring an additional 27,253 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Essential Properties Realty Trust by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 33,614 shares of the company’s stock worth $859,000 after acquiring an additional 540 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Essential Properties Realty Trust by 2.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 95,716 shares of the company’s stock worth $2,455,000 after acquiring an additional 1,945 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Essential Properties Realty Trust by 15.5% during the fourth quarter. Quadrant Capital Group LLC now owns 6,567 shares of the company’s stock worth $168,000 after acquiring an additional 881 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.