Brokerages Set Essential Properties Realty Trust, Inc. (NYSE:EPRT) Target Price at $35.67

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.6667.

Several research firms have recently issued reports on EPRT. Cantor Fitzgerald reiterated an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Essential Properties Realty Trust in a report on Wednesday, January 28th. Barclays reissued an “overweight” rating and set a $37.00 price objective on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Scotiabank lifted their target price on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Finally, Mizuho boosted their target price on 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.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several large investors have recently bought and sold shares of EPRT. Charles Schwab Investment Management Inc. grew its stake in Essential Properties Realty Trust by 8.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,284,712 shares of the company’s stock worth $104,815,000 after acquiring an additional 267,226 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Essential Properties Realty Trust during the third quarter valued at approximately $1,242,000. Exchange Traded Concepts LLC boosted its holdings in shares of Essential Properties Realty Trust by 139.6% in the third quarter. Exchange Traded Concepts LLC now owns 118,698 shares of the company’s stock valued at $3,532,000 after purchasing an additional 69,157 shares during the period. Allworth Financial LP grew its stake in Essential Properties Realty Trust by 2,890.8% in the second quarter. Allworth Financial LP now owns 22,192 shares of the company’s stock worth $708,000 after purchasing an additional 21,450 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Essential Properties Realty Trust by 5.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,378,414 shares of the company’s stock worth $70,782,000 after purchasing an additional 115,567 shares during the period. Institutional investors own 96.98% of the company’s stock.

Essential Properties Realty Trust Stock Performance

NYSE EPRT opened at $33.94 on Friday. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.60. Essential Properties Realty Trust has a twelve month low of $27.44 and a twelve month high of $34.38. The business has a 50-day moving average price of $30.91 and a 200-day moving average price of $30.66. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 2.50 and a beta of 0.99.

Essential Properties Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.31 per share. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.24 annualized dividend and a dividend yield of 3.7%. Essential Properties Realty Trust’s payout ratio is currently 96.88%.

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.