Scotiabank Increases Essential Properties Realty Trust (NYSE:EPRT) Price Target to $35.00

Essential Properties Realty Trust (NYSE:EPRT) had its price objective hoisted by equities research analysts at Scotiabank from $34.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 1.33% from the company’s previous close.

EPRT has been the subject of several other research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research note on Wednesday, January 28th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Mizuho raised their target price on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a research report on Tuesday, February 17th. Finally, Barclays reaffirmed an “overweight” rating and issued a $37.00 price target on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.78.

Essential Properties Realty Trust Stock Performance

Shares of NYSE EPRT opened at $34.54 on Monday. Essential Properties Realty Trust has a 12-month low of $27.44 and a 12-month high of $34.67. The company has a market cap of $7.25 billion, a PE ratio of 26.98, a P/E/G ratio of 2.54 and a beta of 0.95. The stock has a 50 day simple moving average of $31.10 and a 200-day simple moving average of $30.72. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60.

Institutional Trading of Essential Properties Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in EPRT. Caitong International Asset Management Co. Ltd boosted its holdings in Essential Properties Realty Trust by 273.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,614 shares of the company’s stock worth $48,000 after buying an additional 1,182 shares in the last quarter. Sit Investment Associates Inc. lifted its position in shares of Essential Properties Realty Trust by 20.0% during the 4th quarter. Sit Investment Associates Inc. now owns 26,375 shares of the company’s stock valued at $782,000 after acquiring an additional 4,400 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of Essential Properties Realty Trust during the 4th quarter valued at $99,000. Corient Private Wealth LLC boosted its stake in shares of Essential Properties Realty Trust by 9.2% during the 4th quarter. Corient Private Wealth LLC now owns 15,796 shares of the company’s stock worth $469,000 after acquiring an additional 1,333 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Essential Properties Realty Trust by 8.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 25,954 shares of the company’s stock worth $770,000 after acquiring an additional 1,962 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 (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.