Essential Properties Realty Trust, Inc. (NYSE:EPRT) Receives $30.81 Average PT from Brokerages

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $31.12.

Several research firms have issued reports on EPRT. Scotiabank increased their price objective on shares of Essential Properties Realty Trust from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Evercore ISI lowered shares of Essential Properties Realty Trust from an “outperform” rating to an “in-line” rating and raised their price target for the company from $30.00 to $32.00 in a research note on Wednesday, July 17th. Mizuho boosted their price objective on Essential Properties Realty Trust from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Truist Financial raised their target price on Essential Properties Realty Trust from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Wedbush began coverage on Essential Properties Realty Trust in a research note on Monday, August 19th. They issued an “outperform” rating and a $34.00 price target on the stock.

Insider Buying and Selling at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 12,712 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $28.03, for a total value of $356,317.36. Following the completion of the transaction, the chief executive officer now directly owns 500,552 shares in the company, valued at $14,030,472.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 12,712 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $28.03, for a total transaction of $356,317.36. Following the completion of the transaction, the chief executive officer now owns 500,552 shares of the company’s stock, valued at $14,030,472.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter M. Mavoides sold 1,200 shares of Essential Properties Realty Trust stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $28.00, for a total transaction of $33,600.00. Following the sale, the chief executive officer now owns 513,264 shares of the company’s stock, valued at $14,371,392. The disclosure for this sale can be found here. Insiders have sold 34,775 shares of company stock worth $964,484 in the last ninety days. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Essential Properties Realty Trust

A number of institutional investors have recently modified their holdings of EPRT. EdgeRock Capital LLC purchased a new stake in Essential Properties Realty Trust during the 4th quarter worth approximately $26,000. Asset Dedication LLC acquired a new position in shares of Essential Properties Realty Trust in the second quarter worth $27,000. Heritage Wealth Advisors increased its position in shares of Essential Properties Realty Trust by 71.4% during the fourth quarter. Heritage Wealth Advisors now owns 1,200 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares during the period. Principal Securities Inc. acquired a new stake in shares of Essential Properties Realty Trust in the fourth quarter valued at $31,000. Finally, Quarry LP boosted its holdings in Essential Properties Realty Trust by 611.3% in the second quarter. Quarry LP now owns 1,195 shares of the company’s stock valued at $33,000 after purchasing an additional 1,027 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Essential Properties Realty Trust Trading Up 1.5 %

Shares of Essential Properties Realty Trust stock opened at $31.62 on Wednesday. Essential Properties Realty Trust has a fifty-two week low of $20.49 and a fifty-two week high of $31.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.90 and a current ratio of 4.90. The company has a market cap of $5.54 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.35. The firm has a 50-day simple moving average of $29.07 and a two-hundred day simple moving average of $26.98.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13). The business had revenue of $109.30 million for the quarter, compared to analysts’ expectations of $102.99 million. Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, equities analysts predict that Essential Properties Realty Trust will post 1.69 earnings per share for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, June 28th. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a yield of 3.67%. Essential Properties Realty Trust’s payout ratio is 94.31%.

About Essential Properties Realty Trust

Essential Properties Realty Trust, Inc, a real estate company, acquires, owns, and manages single-tenant properties in the United States. The company leases its properties to middle-market companies, such as restaurants, car washes, automotive services, medical and dental services, convenience stores, equipment rental, entertainment, early childhood education, grocery, and health and fitness on a long-term basis.