Essential Properties Realty Trust (NYSE:EPRT) Price Target Increased to $34.00 by Analysts at Wells Fargo & Company

Essential Properties Realty Trust (NYSE:EPRT) had its price objective boosted by Wells Fargo & Company from $31.00 to $34.00 in a report published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also commented on the stock. Raymond James upped their price target on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an outperform rating in a research report on Wednesday, August 21st. Wedbush started coverage on shares of Essential Properties Realty Trust in a research report on Monday, August 19th. They issued an outperform rating and a $34.00 target price for the company. Scotiabank increased their target price on shares of Essential Properties Realty Trust from $28.00 to $30.00 and gave the company a sector perform rating in a research report on Wednesday, August 7th. Truist Financial increased their target price on shares of 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, UBS Group increased their target price on shares of Essential Properties Realty Trust from $30.00 to $35.00 and gave the company a buy rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $31.65.

Essential Properties Realty Trust Stock Down 0.2 %

Essential Properties Realty Trust stock opened at $31.57 on Monday. The company has a 50-day simple moving average of $29.22 and a 200-day simple moving average of $27.12. The firm has a market capitalization of $5.53 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.26 and a beta of 1.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.90 and a current ratio of 4.90. Essential Properties Realty Trust has a one year low of $20.49 and a one year high of $32.02.

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

Essential Properties Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a dividend of $0.29 per share. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 annualized dividend and a dividend yield of 3.67%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 94.31%.

Insider Activity

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 1,200 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 513,264 shares of the company’s stock, valued at $14,371,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 1,200 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 513,264 shares of the company’s stock, valued at $14,371,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter M. Mavoides sold 12,712 shares of the company’s 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 sale, the chief executive officer now directly owns 500,552 shares of the company’s stock, valued at $14,030,472.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,775 shares of company stock worth $964,484. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Essential Properties Realty Trust

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

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.