Essential Properties Realty Trust (NYSE:EPRT) PT Raised to $34.00 at Evercore ISI

Essential Properties Realty Trust (NYSE:EPRT) had its price target lifted by Evercore ISI from $33.00 to $34.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other research firms have also issued reports on EPRT. Wells Fargo & Company increased their target price on Essential Properties Realty Trust from $31.00 to $34.00 and gave the company an overweight rating in a report on Monday, August 26th. UBS Group increased their target price on Essential Properties Realty Trust from $30.00 to $35.00 and gave the company a buy rating in a report on Thursday, July 18th. Truist Financial increased their target price on Essential Properties Realty Trust from $29.00 to $33.00 and gave the company a buy rating in a report on Monday, August 5th. The Goldman Sachs Group began coverage on Essential Properties Realty Trust in a report on Friday, June 28th. They issued a buy rating and a $33.00 target price for the company. Finally, Scotiabank increased their price objective on Essential Properties Realty Trust from $28.00 to $30.00 and gave the stock a sector perform rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target 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 one year low of $20.49 and a one year high of $34.01. The stock has a fifty day moving average of $30.82 and a 200-day moving average of $28.03. The company has a market capitalization of $5.94 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.73 and a beta of 1.37. 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 released 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). The business had revenue of $109.30 million during the quarter, compared to analysts’ expectations of $102.99 million. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. Essential Properties Realty Trust’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, equities analysts anticipate that Essential Properties Realty Trust will post 1.68 EPS for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The business 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 $0.29 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.42%. Essential Properties Realty Trust’s dividend payout ratio is currently 94.31%.

Insider Transactions at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 1,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 513,264 shares of the company’s stock, valued at approximately $14,371,392. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 12,712 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $28.03, for a total transaction of $356,317.36. Following the completion of the transaction, the chief executive officer now owns 500,552 shares of the company’s stock, valued at approximately $14,030,472.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter M. Mavoides sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders sold 62,592 shares of company stock worth $1,863,808. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Essential Properties Realty Trust

Large investors have recently made changes to their positions in the business. Heritage Wealth Advisors boosted its holdings in 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 period. Massachusetts Financial Services Co. MA lifted its stake in shares of Essential Properties Realty Trust by 1.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 33,614 shares of the company’s stock valued at $859,000 after buying an additional 540 shares during the period. Thoroughbred Financial Services LLC grew its position in Essential Properties Realty Trust by 5.3% during the first quarter. Thoroughbred Financial Services LLC now owns 12,879 shares of the company’s stock worth $343,000 after buying an additional 654 shares in the last quarter. New York State Teachers Retirement System increased its stake in Essential Properties Realty Trust by 0.3% during the first quarter. New York State Teachers Retirement System now owns 230,417 shares of the company’s stock valued at $6,143,000 after acquiring an additional 658 shares during the period. Finally, CWM LLC raised its holdings in 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 acquiring an additional 686 shares in the last quarter. 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.