Essential Properties Realty Trust (NYSE:EPRT) Given New $33.00 Price Target at Scotiabank

Essential Properties Realty Trust (NYSE:EPRT) had its target price upped by Scotiabank from $32.00 to $33.00 in a research note released on Monday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other research analysts have also commented on the company. Wells Fargo & Company reduced their price target on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Truist Financial boosted their target price on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Raymond James increased their price target on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus lifted their price target on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group upped their price objective on Essential Properties Realty Trust from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Essential Properties Realty Trust currently has an average rating of “Moderate Buy” and a consensus target price of $33.44.

Essential Properties Realty Trust Stock Up 1.0 %

Shares of NYSE EPRT opened at $34.31 on Monday. The stock has a market cap of $6.02 billion, a PE ratio of 29.79, a P/E/G ratio of 2.81 and a beta of 1.37. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.69. Essential Properties Realty Trust has a 12-month low of $23.42 and a 12-month high of $34.72. The company has a 50-day moving average of $33.17 and a 200 day moving average of $30.58.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). Essential Properties Realty Trust had a net margin of 46.00% and a return on equity of 6.20%. The company had revenue of $117.13 million during the quarter, compared to analysts’ expectations of $109.73 million. During the same quarter last year, the company earned $0.42 earnings per share. Essential Properties Realty Trust’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, sell-side analysts predict that Essential Properties Realty Trust will post 1.68 EPS for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust’s payout ratio is 100.87%.

Insider Activity at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.33, for a total value of $899,323.61. Following the completion of the transaction, the chief executive officer now owns 446,076 shares of the company’s stock, valued at $14,421,637.08. This trade represents a 5.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Essential Properties Realty Trust

Several hedge funds have recently modified their holdings of EPRT. Price T Rowe Associates Inc. MD increased its holdings in Essential Properties Realty Trust by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,838 shares of the company’s stock worth $2,369,000 after purchasing an additional 5,672 shares during the period. Virtu Financial LLC purchased a new stake in shares of Essential Properties Realty Trust during the first quarter worth approximately $290,000. Teachers Retirement System of The State of Kentucky raised its holdings in Essential Properties Realty Trust by 31.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 157,731 shares of the company’s stock valued at $4,205,000 after acquiring an additional 37,729 shares in the last quarter. GAMMA Investing LLC lifted its stake in Essential Properties Realty Trust by 116.4% in the second quarter. GAMMA Investing LLC now owns 1,945 shares of the company’s stock worth $54,000 after acquiring an additional 1,046 shares during the last quarter. Finally, First Hawaiian Bank grew its holdings in Essential Properties Realty Trust by 19.0% during the 2nd quarter. First Hawaiian Bank now owns 23,312 shares of the company’s stock worth $646,000 after acquiring an additional 3,722 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.