The Goldman Sachs Group Initiates Coverage on Essential Properties Realty Trust (NYSE:EPRT)

The Goldman Sachs Group initiated coverage on shares of Essential Properties Realty Trust (NYSE:EPRT) in a report published on Friday, MarketBeat reports. The brokerage issued a buy rating and a $33.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank lifted their price objective on shares of Essential Properties Realty Trust from $26.00 to $28.00 and gave the stock a sector perform rating in a research report on Wednesday, May 29th. B. Riley reaffirmed a buy rating and issued a $29.00 price target (up from $27.50) on shares of Essential Properties Realty Trust in a report on Wednesday, March 13th. Stifel Nicolaus raised their price objective on shares of Essential Properties Realty Trust from $27.00 to $27.50 and gave the stock a buy rating in a report on Tuesday, March 19th. UBS Group initiated coverage on shares of Essential Properties Realty Trust in a report on Friday, May 31st. They issued a buy rating and a $30.00 target price for the company. Finally, Citigroup upgraded shares of Essential Properties Realty Trust from a neutral rating to a buy rating and lifted their price target for the stock from $25.00 to $28.50 in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Essential Properties Realty Trust currently has an average rating of Moderate Buy and an average price target of $29.00.

Essential Properties Realty Trust Price Performance

Shares of NYSE EPRT opened at $27.45 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.61 and a quick ratio of 7.61. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The stock’s 50-day moving average is $27.06 and its two-hundred day moving average is $25.89. Essential Properties Realty Trust has a 1-year low of $20.49 and a 1-year high of $28.18.

Essential Properties Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, June 28th. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 4.23%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 94.31%.

Insiders Place Their Bets

In other news, Director Stephen D. Sautel sold 25,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $27.09, for a total transaction of $677,250.00. Following the completion of the transaction, the director now directly owns 247,492 shares of the company’s stock, valued at approximately $6,704,558.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.81% of the stock is owned by insiders.

Institutional Trading of Essential Properties Realty Trust

Several large investors have recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in Essential Properties Realty Trust in the 4th quarter valued at approximately $26,000. Heritage Wealth Advisors boosted its holdings in shares of Essential Properties Realty Trust by 71.4% in the 4th quarter. Heritage Wealth Advisors now owns 1,200 shares of the company’s stock valued at $31,000 after purchasing an additional 500 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Essential Properties Realty Trust during the 4th quarter valued at $31,000. Signaturefd LLC raised its position in shares of Essential Properties Realty Trust by 666.8% in the 4th quarter. Signaturefd LLC now owns 2,492 shares of the company’s stock worth $64,000 after buying an additional 2,167 shares during the period. Finally, Quadrant Capital Group LLC grew its position in 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 valued at $168,000 after acquiring an additional 881 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.