Essential Properties Realty Trust (NYSE:EPRT) Rating Increased to Strong-Buy at Raymond James Financial

Raymond James Financial upgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from an outperform rating to a strong-buy rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has $37.00 target price on the stock, up from their previous target price of $35.00.

Other equities research analysts have also recently issued research reports about the stock. Evercore reaffirmed an “outperform” rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. Truist Financial lifted their price target on shares of Essential Properties Realty Trust from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 9th. UBS Group boosted their price objective on Essential Properties Realty Trust from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Mizuho increased their target price on shares of Essential Properties Realty Trust from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $36.60.

Essential Properties Realty Trust Trading Up 0.3%

Essential Properties Realty Trust stock opened at $33.13 on Tuesday. The firm has a market cap of $6.95 billion, a PE ratio of 25.88, a P/E/G ratio of 2.43 and a beta of 0.95. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $31.87 and its two-hundred day simple moving average is $30.90. Essential Properties Realty Trust has a 12 month low of $27.44 and a 12 month high of $34.73.

Essential Properties Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a $0.31 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.24 dividend on an annualized basis and a yield of 3.7%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 96.88%.

Institutional Investors Weigh In On Essential Properties Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in Essential Properties Realty Trust by 159.4% in the first quarter. Royal Bank of Canada now owns 74,147 shares of the company’s stock valued at $2,420,000 after purchasing an additional 45,561 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Essential Properties Realty Trust by 21.8% in the 1st 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 during the period. Goldman Sachs Group Inc. boosted its stake in Essential Properties Realty Trust by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,387,218 shares of the company’s stock valued at $45,279,000 after acquiring an additional 195,057 shares during the period. Jane Street Group LLC acquired a new position in Essential Properties Realty Trust during the 1st quarter valued at approximately $2,350,000. Finally, Geode Capital Management LLC grew its position in shares of Essential Properties Realty Trust by 9.2% during the second quarter. Geode Capital Management LLC now owns 5,155,085 shares of the company’s stock worth $164,517,000 after acquiring an additional 435,971 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.