Barclays Initiates Coverage on Essential Properties Realty Trust (NYSE:EPRT)

Barclays initiated coverage on shares of Essential Properties Realty Trust (NYSE:EPRT) in a report released on Tuesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $35.94 price target on the stock. Barclays‘s price target would suggest a potential upside of 14.02% from the stock’s current price.

A number of other equities analysts also recently issued reports on EPRT. Deutsche Bank Aktiengesellschaft began coverage on shares of Essential Properties Realty Trust in a research note on Wednesday, December 11th. They set a “buy” rating and a $38.00 price objective on the stock. Evercore ISI upped their price objective on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Stifel Nicolaus lifted their target price on Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company decreased their price objective on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Scotiabank boosted their target price on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

Essential Properties Realty Trust Stock Performance

Shares of NYSE:EPRT opened at $31.52 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59. The firm has a market cap of $5.53 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. The firm’s 50 day simple moving average is $33.03 and its 200-day simple moving average is $31.23. Essential Properties Realty Trust has a one year low of $23.58 and a one year high of $34.88.

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). Essential Properties Realty Trust had a net margin of 46.00% and a return on equity of 6.20%. The firm had revenue of $117.13 million for the quarter, compared to the consensus estimate of $109.73 million. During the same period last year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, equities analysts predict that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Hedge Funds Weigh In On Essential Properties Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC lifted its stake in Essential Properties Realty Trust by 122.9% in the 2nd quarter. CWM LLC now owns 1,244 shares of the company’s stock worth $34,000 after purchasing an additional 686 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Essential Properties Realty Trust by 9.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 193,228 shares of the company’s stock valued at $5,354,000 after purchasing an additional 16,978 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Essential Properties Realty Trust by 14.1% during the second quarter. Louisiana State Employees Retirement System now owns 88,200 shares of the company’s stock worth $2,444,000 after buying an additional 10,900 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Essential Properties Realty Trust by 9.4% during the second quarter. Bank of New York Mellon Corp now owns 1,966,304 shares of the company’s stock worth $54,486,000 after buying an additional 169,222 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Essential Properties Realty Trust by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,712 shares of the company’s stock valued at $2,541,000 after buying an additional 7,213 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Company Profile

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.