Essential Properties Realty Trust (NYSE:EPRT) Upgraded by Raymond James Financial to “Strong-Buy” Rating

Essential Properties Realty Trust (NYSE:EPRT) was upgraded by analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $37.00 price objective on the stock. Raymond James Financial’s price objective points to a potential upside of 12.14% from the stock’s current price.

EPRT has been the topic of a number of other research reports. Evercore reaffirmed an “outperform” rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Essential Properties Realty Trust in a research note on Friday, February 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Essential Properties Realty Trust in a report on Wednesday, January 28th. Scotiabank increased their target price on Essential Properties Realty Trust from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Finally, UBS Group lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Essential Properties Realty Trust presently has a consensus rating of “Buy” and an average price target of $36.60.

Essential Properties Realty Trust Trading Up 0.2%

Shares of EPRT stock opened at $33.00 on Tuesday. The firm’s 50-day simple moving average is $31.80 and its 200-day simple moving average is $30.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.37 and a quick ratio of 6.37. Essential Properties Realty Trust has a 1-year low of $27.44 and a 1-year high of $34.73. The firm has a market cap of $6.92 billion, a P/E ratio of 25.78, a PEG ratio of 2.43 and a beta of 0.95.

Institutional Investors Weigh In On Essential Properties Realty Trust

Large investors have recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Essential Properties Realty Trust during the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its position in Essential Properties Realty Trust by 82.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company’s stock worth $27,000 after purchasing an additional 405 shares during the period. First Horizon Corp increased its holdings in Essential Properties Realty Trust by 146.9% in the 4th quarter. First Horizon Corp now owns 1,131 shares of the company’s stock valued at $34,000 after purchasing an additional 673 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in Essential Properties Realty Trust in the third quarter valued at about $46,000. Finally, Clearstead Advisors LLC raised its position in Essential Properties Realty Trust by 664.4% in the fourth quarter. Clearstead Advisors LLC now owns 1,590 shares of the company’s stock valued at $47,000 after purchasing an additional 1,382 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.