Essential Properties Realty Trust (NYSE:EPRT) Price Target Cut to $31.00 by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut Essential Properties Realty Trust’s price target from $37 to $31 while maintaining an “overweight” rating, implying 13.39% upside from the prior close.
• Several analysts have also lowered their targets, but overall sentiment remains positive: EPRT has a “Moderate Buy” consensus rating and an average target price of $32.46.
• The company’s latest quarter showed revenue growth of 15.5% year over year to $168.67 million, though EPS of $0.27 missed expectations of $0.33. Institutional investors own 96.98% of the stock.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) had its price objective lowered by stock analysts at Cantor Fitzgerald from $37.00 to $31.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price indicates a potential upside of 13.39% from the company's previous close.

Several other analysts also recently commented on EPRT. Wells Fargo & Company reduced their price target on shares of Essential Properties Realty Trust from $36.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, October 19th. Citigroup reduced their target price on shares of Essential Properties Realty Trust from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, October 26th. Scotiabank decreased their target price on Essential Properties Realty Trust from $33.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, September 24th. Weiss Ratings lowered shares of Essential Properties Realty Trust from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, October 28th. Finally, Barclays lowered their price target on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an "overweight" rating for the company in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.46.

Essential Properties Realty Trust Trading Up 2.2%

NYSE EPRT opened at $27.34 on Tuesday. Essential Properties Realty Trust has a one year low of $24.62 and a one year high of $34.73. The firm has a 50 day simple moving average of $27.34 and a 200-day simple moving average of $30.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.94 and a current ratio of 4.94. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.36 and a beta of 0.82.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). Essential Properties Realty Trust had a net margin of 41.03% and a return on equity of 5.95%. The firm had revenue of $168.67 million during the quarter, compared to analysts' expectations of $158.17 million. During the same period in the prior year, the company posted $0.48 earnings per share. The company's revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Essential Properties Realty Trust will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Essential Properties Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its position in Essential Properties Realty Trust by 47.8% during the first quarter. Assetmark Inc. now owns 1,339 shares of the company's stock valued at $41,000 after buying an additional 433 shares during the period. Parkside Financial Bank & Trust grew its position in Essential Properties Realty Trust by 21.1% during the second quarter. Parkside Financial Bank & Trust now owns 2,740 shares of the company's stock worth $82,000 after buying an additional 478 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Essential Properties Realty Trust by 3.4% in the third quarter. Commonwealth Equity Services LLC now owns 15,726 shares of the company's stock worth $406,000 after purchasing an additional 515 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Essential Properties Realty Trust by 0.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 95,649 shares of the company's stock valued at $2,904,000 after buying an additional 530 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Essential Properties Realty Trust by 5.7% during the third quarter. Kestra Advisory Services LLC now owns 10,356 shares of the company's stock worth $267,000 after purchasing an additional 562 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc NYSE: EPRT is an internally managed real estate investment trust that acquires, owns and manages single-tenant commercial properties. The company primarily leases these properties to middle-market businesses under long-term, net lease agreements, which generally require tenants to pay a substantial portion of the property's operating expenses, including taxes, insurance and maintenance.

EPRT's portfolio is diversified across businesses such as automotive services, medical services, restaurants, retail, early childhood education and other service-oriented industries.

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