Essential Properties Realty Trust (NYSE:EPRT) Price Target Raised to $35.00

Essential Properties Realty Trust (NYSE:EPRT) had its target price hoisted by Mizuho from $31.00 to $35.00 in a report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

EPRT has been the subject of several other research reports. Wedbush began coverage on shares of Essential Properties Realty Trust in a research note on Monday, August 19th. They issued an “outperform” rating and a $34.00 target price for the company. Wells Fargo & Company lowered their price objective on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Evercore ISI raised their target price on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank lifted their price target on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Finally, 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 note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.37.

Essential Properties Realty Trust Price Performance

NYSE EPRT opened at $32.86 on Thursday. The stock’s 50-day moving average is $33.01 and its two-hundred day moving average is $30.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.59 and a quick ratio of 5.59. Essential Properties Realty Trust has a fifty-two week low of $23.01 and a fifty-two week high of $34.51. The firm has a market cap of $5.76 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 2.75 and a beta of 1.37.

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

Essential Properties Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 100.87%.

Insider Buying and Selling at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of Essential Properties Realty Trust stock in a transaction on 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 transaction, the chief executive officer now owns 446,076 shares in the company, valued at approximately $14,421,637.08. The trade was a 5.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Duff & Phelps Investment Management Co. bought a new stake in Essential Properties Realty Trust during the 3rd quarter worth about $69,473,000. Massachusetts Financial Services Co. MA lifted its position in shares of Essential Properties Realty Trust by 5,380.1% during the second 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 in the last quarter. Adelante Capital Management LLC grew its stake in shares of Essential Properties Realty Trust by 3,964.9% during the third 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 during the last quarter. Vanguard Group Inc. increased its holdings in shares of Essential Properties Realty Trust by 4.4% in the first quarter. Vanguard Group Inc. now owns 25,377,389 shares of the company’s stock valued at $676,561,000 after purchasing an additional 1,060,079 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 purchasing an additional 883,053 shares during 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.