Essential Properties Realty Trust, Inc. (NYSE:EPRT) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Eleven brokerages give EPRT an average rating of Buy, with a one-year average price target of $36.60 and several firms (Truist, Barclays, Raymond James) recently raising targets to about $37.
• Essential Properties declared a quarterly dividend of $0.31 (annualized $1.24), implying a 3.8% yield with an ex-dividend date of March 31 and a payout ratio of about 96.9%.
• Company insiders (including the CFO and a VP) sold shares on March 20, reducing insider ownership to 0.77%, while institutional investors own roughly 97% of the stock after large stake increases by firms like Cohen & Steers and Northwestern Mutual.

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Get Free Report) have received an average rating of "Buy" from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $36.60.

A number of equities research analysts recently commented on EPRT shares. Truist Financial upped their price objective on Essential Properties Realty Trust from $34.00 to $37.00 and gave the company a "buy" rating in a report on Monday, March 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Essential Properties Realty Trust in a report on Wednesday, January 28th. Barclays reiterated an "overweight" rating and issued a $37.00 price objective on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Raymond James Financial raised Essential Properties Realty Trust from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $35.00 to $37.00 in a research note on Tuesday, March 17th. Finally, Scotiabank boosted their target price on Essential Properties Realty Trust from $34.00 to $35.00 and gave the company a "sector perform" rating in a research note on Monday, March 2nd.

Essential Properties Realty Trust Trading Down 0.0%

NYSE EPRT opened at $32.53 on Monday. The stock has a 50-day simple moving average of $32.26 and a 200 day simple moving average of $31.04. The company has a market capitalization of $6.84 billion, a PE ratio of 25.41, a P/E/G ratio of 2.85 and a beta of 0.99. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60. Essential Properties Realty Trust has a 12 month low of $28.95 and a 12 month high of $34.73.

Essential Properties Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Essential Properties Realty Trust's payout ratio is presently 96.88%.

Insider Transactions at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CFO Robert Webb Salisbury sold 5,851 shares of the business's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $31.88, for a total value of $186,529.88. Following the completion of the transaction, the chief financial officer directly owned 8,310 shares of the company's stock, valued at approximately $264,922.80. The trade was a 41.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP A Joseph Peil sold 19,657 shares of the business's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $32.10, for a total value of $630,989.70. Following the completion of the transaction, the vice president directly owned 76,525 shares of the company's stock, valued at approximately $2,456,452.50. The trade was a 20.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPRT. Cohen & Steers Inc. grew its stake in Essential Properties Realty Trust by 111.6% in the fourth quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company's stock valued at $552,031,000 after acquiring an additional 9,816,042 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Essential Properties Realty Trust by 1,930,360.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company's stock valued at $199,829,000 after acquiring an additional 6,736,959 shares during the period. Daiwa Securities Group Inc. grew its stake in Essential Properties Realty Trust by 4,681.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,997,593 shares of the company's stock valued at $118,569,000 after acquiring an additional 3,913,986 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of Essential Properties Realty Trust by 195.4% during the third quarter. Balyasny Asset Management L.P. now owns 3,970,789 shares of the company's stock worth $118,171,000 after buying an additional 2,626,478 shares during the period. Finally, Norges Bank acquired a new position in shares of Essential Properties Realty Trust during the fourth quarter worth about $68,467,000. 96.98% of the stock is owned by institutional investors and hedge funds.

About Essential Properties Realty Trust

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.

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