Essential Properties Realty Trust, Inc. (NYSE:EPRT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $35.4091.

A number of brokerages recently commented on EPRT. Scotiabank increased their price target 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. Berenberg Bank assumed coverage on Essential Properties Realty Trust in a research report on Monday, October 13th. They issued a “buy” rating and a $36.00 target price on the stock. Mizuho raised their price target on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a research note on Monday, January 5th. Finally, Stifel Nicolaus set a $36.00 price target on shares of Essential Properties Realty Trust in a report on Thursday, October 23rd.

Hedge Funds Weigh In On Essential Properties Realty Trust

A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in Essential Properties Realty Trust during the second quarter valued at approximately $84,188,000. Balyasny Asset Management L.P. increased its holdings in shares of Essential Properties Realty Trust by 195.4% in the 3rd quarter. Balyasny Asset Management L.P. now owns 3,970,789 shares of the company’s stock valued at $118,171,000 after acquiring an additional 2,626,478 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Essential Properties Realty Trust by 59.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,803,496 shares of the company’s stock valued at $112,812,000 after acquiring an additional 1,425,082 shares in the last quarter. Barclays PLC lifted its stake in Essential Properties Realty Trust by 168.5% during the third quarter. Barclays PLC now owns 2,212,137 shares of the company’s stock worth $65,833,000 after purchasing an additional 1,388,289 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new position in Essential Properties Realty Trust in the second quarter worth $37,828,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Essential Properties Realty Trust Price Performance

Shares of EPRT stock opened at $30.19 on Wednesday. The firm has a fifty day simple moving average of $30.50 and a 200-day simple moving average of $30.45. The company has a market capitalization of $5.98 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. Essential Properties Realty Trust has a twelve month low of $27.44 and a twelve month high of $33.35. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.68.

Essential Properties Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were paid a $0.31 dividend. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, December 31st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.1%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 100.00%.

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.