Essential Properties Realty Trust, Inc. (NYSE:EPRT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Essential Properties Realty Trust, Inc. (NYSE:EPRT) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $35.6667.

EPRT has been the subject of a number of research analyst reports. Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a research report on Tuesday. Barclays reiterated an “overweight” rating and set a $37.00 target price on shares of Essential Properties Realty Trust in a research report on Tuesday, January 13th. Scotiabank lifted their price objective on Essential Properties Realty Trust from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Mizuho upped their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a research note on Friday, February 13th.

Essential Properties Realty Trust Stock Up 0.5%

Shares of NYSE:EPRT opened at $32.73 on Friday. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60. Essential Properties Realty Trust has a 12-month low of $27.44 and a 12-month high of $33.35. The stock’s 50-day moving average price is $30.62 and its 200-day moving average price is $30.54. The stock has a market capitalization of $6.87 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 2.40 and a beta of 0.99.

Essential Properties Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were given a $0.31 dividend. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Wednesday, December 31st. Essential Properties Realty Trust’s payout ratio is currently 96.88%.

Institutional Investors Weigh In On Essential Properties Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Essential Properties Realty Trust by 159.4% during the 1st quarter. Royal Bank of Canada now owns 74,147 shares of the company’s stock valued at $2,420,000 after acquiring an additional 45,561 shares during the period. AQR Capital Management LLC increased its position in shares of Essential Properties Realty Trust by 21.8% in the first quarter. AQR Capital Management LLC now owns 22,244 shares of the company’s stock valued at $726,000 after buying an additional 3,981 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Essential Properties Realty Trust by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,387,218 shares of the company’s stock worth $45,279,000 after buying an additional 195,057 shares during the period. Jane Street Group LLC purchased a new position in shares of Essential Properties Realty Trust during the 1st quarter valued at approximately $2,350,000. Finally, Ethic Inc. grew its stake in Essential Properties Realty Trust by 16.7% in the 2nd quarter. Ethic Inc. now owns 8,230 shares of the company’s stock valued at $263,000 after acquiring an additional 1,175 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc (NYSE: EPRT) is a self-administered real estate investment trust that acquires, owns and manages single-tenant commercial properties subject to long-term, triple-net leases. The company’s portfolio primarily consists of small-box retail and industrial assets, including convenience stores, automotive service centers, quick-service restaurants, fitness centers and other necessity-based businesses. Under a triple-net lease structure, tenants assume responsibility for property taxes, insurance and most maintenance expenses, providing Essential Properties with predictable, stable cash flows.

Since its founding in April 2016 and its initial public offering later that year, Essential Properties has pursued a growth strategy focused on partnering with creditworthy tenants operating in densely populated trade areas.