Scotiabank Boosts Essential Properties Realty Trust (NYSE:EPRT) Price Target to $30.00

Essential Properties Realty Trust (NYSE:EPRT) had its target price lifted by stock analysts at Scotiabank from $28.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 4.38% from the company’s current price.

A number of other analysts have also weighed in on EPRT. The Goldman Sachs Group started coverage on Essential Properties Realty Trust in a research note on Friday, June 28th. They issued a “buy” rating and a $33.00 target price for the company. UBS Group boosted their price objective on shares of Essential Properties Realty Trust from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Evercore ISI lowered shares of Essential Properties Realty Trust from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $30.00 to $32.00 in a report on Wednesday, July 17th. Stifel Nicolaus increased their price target on Essential Properties Realty Trust from $31.25 to $32.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Truist Financial raised their price target on Essential Properties Realty Trust from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.54.

Essential Properties Realty Trust Stock Down 0.3 %

Shares of EPRT stock traded down $0.09 during trading on Wednesday, hitting $28.74. 1,013,425 shares of the company were exchanged, compared to its average volume of 1,384,932. The business’s 50-day simple moving average is $28.41 and its 200 day simple moving average is $26.58. Essential Properties Realty Trust has a twelve month low of $20.49 and a twelve month high of $31.23. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.26 and a beta of 1.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.90 and a current ratio of 4.90.

Essential Properties Realty Trust (NYSE:EPRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.99 million. During the same quarter last year, the firm earned $0.41 earnings per share. Essential Properties Realty Trust’s revenue was up 26.4% compared to the same quarter last year. As a group, analysts forecast that Essential Properties Realty Trust will post 1.69 EPS for the current fiscal year.

Insider Activity

In related news, CEO Peter M. Mavoides sold 1,200 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $28.00, for a total value of $33,600.00. Following the completion of the sale, the chief executive officer now directly owns 513,264 shares in the company, valued at $14,371,392. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 12,712 shares of Essential Properties Realty Trust stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $28.03, for a total value of $356,317.36. Following the sale, the chief executive officer now owns 500,552 shares of the company’s stock, valued at $14,030,472.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Peter M. Mavoides sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $28.00, for a total transaction of $33,600.00. Following the sale, the chief executive officer now owns 513,264 shares in the company, valued at $14,371,392. The disclosure for this sale can be found here. Insiders sold 34,775 shares of company stock valued at $964,484 over the last quarter. 0.81% of the stock is owned by company insiders.

Institutional Trading of Essential Properties Realty Trust

Hedge funds have recently made changes to their positions in the stock. Asset Dedication LLC purchased a new position in shares of Essential Properties Realty Trust in the 2nd quarter worth about $27,000. EdgeRock Capital LLC purchased a new stake in Essential Properties Realty Trust in the fourth quarter worth approximately $26,000. Heritage Wealth Advisors grew its position in Essential Properties Realty Trust by 71.4% during the fourth quarter. Heritage Wealth Advisors now owns 1,200 shares of the company’s stock valued at $31,000 after acquiring an additional 500 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Essential Properties Realty Trust during the fourth quarter worth approximately $31,000. Finally, CWM LLC boosted its stake in shares of Essential Properties Realty Trust by 122.9% in the 2nd quarter. CWM LLC now owns 1,244 shares of the company’s stock valued at $34,000 after purchasing an additional 686 shares in the last quarter. 96.98% of the stock is owned by 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.