Wells Fargo & Company Cuts Essential Properties Realty Trust (NYSE:EPRT) Price Target to $34.00

Essential Properties Realty Trust (NYSE:EPRT) had its price target trimmed by Wells Fargo & Company from $37.00 to $34.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also commented on EPRT. Raymond James upped 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 report on Wednesday, August 21st. UBS Group raised their price objective on Essential Properties Realty Trust from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Stifel Nicolaus boosted their price objective on Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wedbush assumed 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. Finally, Scotiabank boosted their price target on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Essential Properties Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Essential Properties Realty Trust Price Performance

NYSE EPRT opened at $32.08 on Monday. The stock has a 50-day simple moving average of $32.90 and a 200 day simple moving average of $29.91. Essential Properties Realty Trust has a twelve month low of $22.32 and a twelve month high of $34.51. The stock has a market capitalization of $5.62 billion, a PE ratio of 27.90, a P/E/G ratio of 2.69 and a beta of 1.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59.

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

Essential Properties Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.29 per share. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.62%. Essential Properties Realty Trust’s dividend payout ratio is 100.87%.

Insider Transactions at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 27,817 shares of the 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 directly owns 446,076 shares in the company, valued at $14,421,637.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC acquired a new position in shares of Essential Properties Realty Trust during the second quarter worth approximately $27,000. Blue Trust Inc. raised its position in Essential Properties Realty Trust by 95.2% in the 3rd quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $28,000 after purchasing an additional 399 shares during the last quarter. Quarry LP lifted its holdings in Essential Properties Realty Trust by 611.3% during the 2nd quarter. Quarry LP now owns 1,195 shares of the company’s stock worth $33,000 after buying an additional 1,027 shares in the last quarter. CWM LLC boosted its position 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 buying an additional 686 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Essential Properties Realty Trust by 116.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,945 shares of the company’s stock valued at $54,000 after buying an additional 1,046 shares during the period. 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.