Essential Properties Realty Trust (NYSE:EPRT) Price Target Raised to $33.00 at Evercore ISI

Essential Properties Realty Trust (NYSE:EPRT) had its target price hoisted by Evercore ISI from $32.00 to $33.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other research analysts have also weighed in on EPRT. Truist Financial increased their price objective 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. Wedbush assumed coverage on shares of Essential Properties Realty Trust in a research note on Monday, August 19th. They set an outperform rating and a $34.00 price objective for the company. Mizuho increased their price objective on shares of Essential Properties Realty Trust from $26.00 to $29.00 and gave the stock a buy rating in a research note on Friday, May 10th. Scotiabank boosted their target price on shares of Essential Properties Realty Trust from $28.00 to $30.00 and gave the company a sector perform rating in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus increased their price target on Essential Properties Realty Trust from $31.25 to $32.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Essential Properties Realty Trust currently has an average rating of Moderate Buy and a consensus target price of $31.73.

Essential Properties Realty Trust Stock Up 0.1 %

EPRT stock opened at $31.52 on Wednesday. The stock has a market capitalization of $5.53 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 2.26 and a beta of 1.35. Essential Properties Realty Trust has a 52 week low of $20.49 and a 52 week high of $32.02. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $29.39 and a 200 day moving average of $27.19.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.13). Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The company had revenue of $109.30 million for the quarter, compared to analyst estimates of $102.99 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 26.4% on a year-over-year basis. Sell-side analysts forecast that Essential Properties Realty Trust will post 1.69 earnings per share for the current year.

Essential Properties Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a $0.29 dividend. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 3.68%. The ex-dividend date was Friday, June 28th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Insider Activity

In other news, CEO Peter M. Mavoides sold 20,863 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $27.54, for a total transaction of $574,567.02. Following the transaction, the chief executive officer now owns 514,464 shares in the company, valued at approximately $14,168,338.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 12,712 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $28.03, for a total transaction of $356,317.36. Following the completion of the sale, the chief executive officer now directly owns 500,552 shares in the company, valued at approximately $14,030,472.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Peter M. Mavoides sold 20,863 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $27.54, for a total value of $574,567.02. Following the completion of the transaction, the chief executive officer now owns 514,464 shares in the company, valued at approximately $14,168,338.56. The disclosure for this sale can be found here. Insiders sold 34,775 shares of company stock worth $964,484 over the last three months. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EPRT. EdgeRock Capital LLC purchased a new stake in shares of Essential Properties Realty Trust during the fourth quarter worth $26,000. Asset Dedication LLC purchased a new stake in Essential Properties Realty Trust during the 2nd quarter valued at about $27,000. Heritage Wealth Advisors raised 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 acquiring an additional 500 shares during the last quarter. Principal Securities Inc. purchased a new position in Essential Properties Realty Trust in the 4th quarter worth approximately $31,000. Finally, Quarry LP boosted its holdings in shares of 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 purchasing an additional 1,027 shares during the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

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.