Essential Properties Realty Trust (NYSE:EPRT) Price Target Raised to $33.00 at Scotiabank

Essential Properties Realty Trust (NYSE:EPRT) had its price objective upped by Scotiabank from $32.00 to $33.00 in a research note released on Monday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus raised their price target 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. Mizuho boosted their price target on shares of Essential Properties Realty Trust from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Raymond James increased their price objective on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Truist Financial lifted their price objective on shares of 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. Finally, Wells Fargo & Company lowered their price target on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Two 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.44.

Essential Properties Realty Trust Price Performance

EPRT stock opened at $33.82 on Monday. 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 company’s fifty day moving average price is $33.16 and its 200-day moving average price is $30.53. Essential Properties Realty Trust has a one year low of $23.42 and a one year high of $34.51. The company has a market capitalization of $5.93 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $109.73 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’s revenue was up 27.8% on a year-over-year basis. On average, equities analysts anticipate that Essential Properties Realty Trust will post 1.68 EPS for the current fiscal year.

Essential Properties Realty Trust Dividend Announcement

The firm also recently announced 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 was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.43%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 100.87%.

Insider Transactions at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 27,817 shares of the company’s 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 transaction, the chief executive officer now directly owns 446,076 shares in the company, valued at approximately $14,421,637.08. This represents a 5.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several large investors have recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. purchased a new position in shares of Essential Properties Realty Trust during the third quarter worth approximately $69,473,000. Massachusetts Financial Services Co. MA increased its holdings in Essential Properties Realty Trust by 5,380.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,881,960 shares of the company’s stock worth $52,149,000 after purchasing an additional 1,847,618 shares during the period. Adelante Capital Management LLC raised its position in Essential Properties Realty Trust by 3,964.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,111,634 shares of the company’s stock valued at $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 lifted its holdings in shares of Essential Properties Realty Trust by 434.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,086,529 shares of the company’s stock worth $37,105,000 after buying an additional 883,053 shares during the period. Finally, APG Asset Management US Inc. bought a new position in shares of Essential Properties Realty Trust during the 2nd quarter worth $21,274,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.