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

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) have been assigned an average recommendation of “Buy” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $36.60.

EPRT has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. UBS Group boosted their target price on Essential Properties Realty Trust from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Truist Financial increased their price target on Essential Properties Realty Trust from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Barclays reaffirmed an “overweight” rating and set a $37.00 price target on shares of Essential Properties Realty Trust in a research report on Tuesday, January 13th. Finally, Evercore reiterated an “outperform” rating on shares of Essential Properties Realty Trust in a report on Tuesday, February 17th.

Essential Properties Realty Trust Trading Down 1.1%

EPRT opened at $32.74 on Thursday. The firm’s fifty day moving average is $31.93 and its two-hundred day moving average is $30.91. The firm has a market cap of $6.87 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 2.44 and a beta of 0.95. Essential Properties Realty Trust has a twelve month low of $27.44 and a twelve month high of $34.73. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.37 and a current ratio of 6.37.

Essential Properties Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, March 31st. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 96.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. raised its holdings in shares of Essential Properties Realty Trust by 111.6% during the fourth quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company’s stock worth $552,031,000 after acquiring an additional 9,816,042 shares during the period. State Street Corp boosted its stake in Essential Properties Realty Trust by 8.2% in the 2nd quarter. State Street Corp now owns 11,131,871 shares of the company’s stock worth $358,488,000 after purchasing an additional 843,877 shares during the period. Wellington Management Group LLP increased its holdings in Essential Properties Realty Trust by 5.7% during the 4th quarter. Wellington Management Group LLP now owns 7,844,570 shares of the company’s stock worth $232,670,000 after purchasing an additional 421,364 shares in the last quarter. Invesco Ltd. increased its holdings in Essential Properties Realty Trust by 3.9% during the 2nd quarter. Invesco Ltd. now owns 7,338,809 shares of the company’s stock worth $234,181,000 after purchasing an additional 276,803 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Essential Properties Realty Trust by 1,930,360.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company’s stock valued at $199,829,000 after purchasing an additional 6,736,959 shares during the period. Institutional investors and hedge funds 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.