Essential Properties Realty Trust (NYSE:EPRT) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Essential Properties Realty Trust (NYSE:EPRTGet Rating) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. The brokerage currently has $25.00 price objective on the stock.

According to Zacks, “Essential Properties Realty Trust, Inc. is a real estate company. It owns, acquires and manages single-tenant properties which are net leased on a long-term basis to service-oriented and experience-based businesses. The company serves restaurants, car washes, automotive services, medical services, convenience stores, entertainment, early childhood education, health and fitness sector. Essential Properties Realty Trust, Inc. is based in Princeton, New Jersey. “

A number of other analysts also recently issued reports on EPRT. Bank of America downgraded Essential Properties Realty Trust from a buy rating to a neutral rating and cut their target price for the stock from $31.00 to $30.00 in a research note on Thursday, January 20th. Mizuho cut Essential Properties Realty Trust from a buy rating to a neutral rating and decreased their price objective for the company from $35.00 to $28.00 in a research note on Thursday, January 20th. LADENBURG THALM/SH SH raised their target price on Essential Properties Realty Trust from $27.00 to $28.50 in a research report on Tuesday, March 1st. Finally, Raymond James cut their target price on Essential Properties Realty Trust from $34.00 to $30.00 and set an outperform rating on the stock in a research report on Friday, March 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $30.31.

Shares of EPRT stock opened at $21.79 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.20 and a quick ratio of 3.20. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.84 and a beta of 1.35. The stock has a 50 day simple moving average of $24.85 and a 200-day simple moving average of $26.51. Essential Properties Realty Trust has a 1-year low of $21.47 and a 1-year high of $32.92.

Essential Properties Realty Trust (NYSE:EPRTGet Rating) last posted its quarterly earnings data on Wednesday, February 16th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Essential Properties Realty Trust had a return on equity of 5.15% and a net margin of 42.54%. During the same period in the prior year, the company posted $0.27 earnings per share. Analysts anticipate that Essential Properties Realty Trust will post 1.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 13th. Stockholders of record on Thursday, March 31st were issued a $0.26 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.77%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 118.18%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPRT. Eaton Vance Management acquired a new position in shares of Essential Properties Realty Trust in the fourth quarter worth $68,542,000. BlackRock Inc. raised its holdings in shares of Essential Properties Realty Trust by 8.6% in the fourth quarter. BlackRock Inc. now owns 22,360,609 shares of the company’s stock worth $644,656,000 after acquiring an additional 1,775,447 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Essential Properties Realty Trust by 53.0% in the third quarter. Invesco Ltd. now owns 4,822,306 shares of the company’s stock worth $134,640,000 after acquiring an additional 1,669,611 shares during the last quarter. Norges Bank acquired a new position in shares of Essential Properties Realty Trust in the fourth quarter worth $32,217,000. Finally, Millennium Management LLC increased its stake in Essential Properties Realty Trust by 4,314.5% in the fourth quarter. Millennium Management LLC now owns 1,053,866 shares of the company’s stock valued at $30,383,000 after purchasing an additional 1,029,993 shares during the last quarter. 95.24% of the stock is owned by institutional investors.

About Essential Properties Realty Trust (Get Rating)

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.

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