Essential Properties Realty Trust (NYSE:EPRT) Lowered to Sell Rating by Wall Street Zen

Essential Properties Realty Trust (NYSE:EPRT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other equities analysts have also commented on the stock. Truist Financial upped their price target on shares of Essential Properties Realty Trust from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Mizuho lifted their price target on shares of Essential Properties Realty Trust from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Evercore reaffirmed an “outperform” rating on shares of Essential Properties Realty Trust in a research report on Tuesday, February 17th. Finally, Raymond James Financial upgraded Essential Properties Realty Trust from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $35.00 to $37.00 in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Essential Properties Realty Trust currently has a consensus rating of “Buy” and an average price target of $36.60.

Essential Properties Realty Trust Trading Up 0.1%

NYSE EPRT opened at $30.88 on Friday. The company has a market cap of $6.49 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.70 and a beta of 0.99. Essential Properties Realty Trust has a 12 month low of $27.44 and a 12 month high of $34.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.37 and a quick ratio of 6.37. The company has a 50-day moving average of $32.08 and a 200-day moving average of $30.96.

Insider Activity at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CFO Robert Webb Salisbury sold 5,851 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $31.88, for a total value of $186,529.88. Following the completion of the transaction, the chief financial officer owned 8,310 shares in the company, valued at $264,922.80. This represents a 41.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP A Joseph Peil sold 19,657 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $32.10, for a total transaction of $630,989.70. Following the completion of the sale, the vice president directly owned 76,525 shares of the company’s stock, valued at $2,456,452.50. This trade represents a 20.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.77% of the company’s stock.

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 company. Royal Bank of Canada boosted its position in Essential Properties Realty Trust by 159.4% in the 1st quarter. Royal Bank of Canada now owns 74,147 shares of the company’s stock valued at $2,420,000 after buying an additional 45,561 shares during the last quarter. AQR Capital Management LLC lifted its stake 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 worth $726,000 after acquiring an additional 3,981 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 purchasing an additional 195,057 shares during the last quarter. Jane Street Group LLC purchased a new position in Essential Properties Realty Trust in the first quarter valued at about $2,350,000. Finally, Creative Planning grew its stake in Essential Properties Realty Trust by 38.4% during the 2nd quarter. Creative Planning now owns 16,531 shares of the company’s stock valued at $528,000 after purchasing an additional 4,589 shares in 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.