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

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

Several other equities analysts have also issued reports on EPRT. Raymond James increased their target price on Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an outperform rating in a research note on Wednesday, August 21st. Wells Fargo & Company raised their target price on Essential Properties Realty Trust from $31.00 to $34.00 and gave the stock an overweight rating in a research report on Monday, August 26th. Wedbush started coverage on Essential Properties Realty Trust in a research note on Monday, August 19th. They set an outperform rating and a $34.00 price target on the stock. UBS Group lifted their target price on Essential Properties Realty Trust from $30.00 to $35.00 and gave the company a buy rating in a research note on Thursday, July 18th. Finally, Stifel Nicolaus raised their price target on Essential Properties Realty Trust from $31.25 to $32.00 and gave the company a buy rating in a report on Thursday, July 25th. 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 presently has an average rating of Moderate Buy and an average target price of $31.81.

Essential Properties Realty Trust Price Performance

Shares of NYSE EPRT opened at $33.89 on Monday. Essential Properties Realty Trust has a 52 week low of $20.49 and a 52 week high of $34.01. The firm has a market cap of $5.94 billion, a P/E ratio of 27.55, a P/E/G ratio of 2.73 and a beta of 1.37. The business’s 50 day moving average price is $30.82 and its 200 day moving average price is $28.03. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.59.

Essential Properties Realty Trust (NYSE:EPRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.13). Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The business had revenue of $109.30 million for the quarter, compared to analyst estimates of $102.99 million. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts expect that Essential Properties Realty Trust will post 1.68 earnings per share for the current year.

Essential Properties Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Insider Buying and Selling at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 1,200 shares of the company’s stock in a transaction dated 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 owns 513,264 shares of the company’s stock, valued at $14,371,392. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total transaction of $899,323.61. Following the sale, the chief executive officer now owns 446,076 shares in the company, valued at $14,421,637.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 value of $33,600.00. Following the sale, the chief executive officer now owns 513,264 shares in the company, valued at approximately $14,371,392. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,592 shares of company stock valued at $1,863,808. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Essential Properties Realty Trust

Institutional investors have recently made changes to their positions in the stock. Asset Dedication LLC bought a new position in Essential Properties Realty Trust during the 2nd quarter valued at $27,000. Quarry LP boosted its stake in Essential Properties Realty Trust by 611.3% during the 2nd quarter. Quarry LP now owns 1,195 shares of the company’s stock valued at $33,000 after purchasing an additional 1,027 shares in the last quarter. Heritage Wealth Advisors boosted its stake in Essential Properties Realty Trust by 71.4% during 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 in the last quarter. Principal Securities Inc. bought a new position in Essential Properties Realty Trust during the 4th quarter valued at $31,000. Finally, CWM LLC boosted its stake in Essential Properties Realty Trust by 122.9% during 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.