Essential Properties Realty Trust (NYSE:EPRT) Given New $33.00 Price Target at Scotiabank

Essential Properties Realty Trust (NYSE:EPRT) had its target price hoisted by Scotiabank from $32.00 to $33.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a sector perform rating on the stock.

Several other research firms have also commented on EPRT. Raymond James raised their price target on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Stifel Nicolaus lifted their target price on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a report on Thursday, September 26th. Truist Financial upped their price target on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Evercore ISI raised their price objective on Essential Properties Realty Trust from $33.00 to $34.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Wedbush started coverage on Essential Properties Realty Trust in a research report on Monday, August 19th. They issued an “outperform” rating and a $34.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.44.

Essential Properties Realty Trust Stock Performance

NYSE:EPRT opened at $34.31 on Monday. Essential Properties Realty Trust has a fifty-two week low of $23.42 and a fifty-two week high of $34.72. The firm’s 50 day moving average is $33.19 and its two-hundred day moving average is $30.61. The company has a market cap of $6.02 billion, a P/E ratio of 29.83, a P/E/G ratio of 2.81 and a beta of 1.37. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.69.

Essential Properties Realty Trust (NYSE:EPRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). The firm had revenue of $117.13 million during the quarter, compared to analyst estimates of $109.73 million. Essential Properties Realty Trust had a net margin of 46.00% and a return on equity of 6.20%. Essential Properties Realty Trust’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Analysts expect that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 100.87%.

Insider Transactions at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 27,817 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the completion of the sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. The trade was a 5.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Duff & Phelps Investment Management Co. bought a new position in shares of Essential Properties Realty Trust in the 3rd quarter worth about $69,473,000. Massachusetts Financial Services Co. MA lifted its holdings in Essential Properties Realty Trust by 5,380.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,881,960 shares of the company’s stock worth $52,149,000 after acquiring an additional 1,847,618 shares during the last quarter. Adelante Capital Management LLC boosted its stake in Essential Properties Realty Trust by 3,964.9% in the third quarter. Adelante Capital Management LLC now owns 1,111,634 shares of the company’s stock valued at $37,962,000 after acquiring an additional 1,084,287 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Essential Properties Realty Trust by 434.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,086,529 shares of the company’s stock valued at $37,105,000 after purchasing an additional 883,053 shares during the last quarter. Finally, APG Asset Management US Inc. acquired a new stake in shares of Essential Properties Realty Trust during the 2nd quarter worth approximately $21,274,000. 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.