Analysts Set Essential Properties Realty Trust, Inc. (NYSE:EPRT) PT at $34.90

Key Points

• Essential Properties Realty Trust, Inc. (NYSE:EPRT) has received an average rating of "Moderate Buy" from analysts, with three hold recommendations and ten buy recommendations.
• The stock's average one-year price objective among brokerages is $34.90, reflecting recent upward and downward revisions by various institutions.
• The company recently increased its quarterly dividend to $0.30, representing a 3.9% dividend yield, despite a payout ratio of 101.69%.

Essential Properties Realty Trust, Inc. (NYSE:EPRT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $34.9038.

A number of equities research analysts have commented on the stock. Scotiabank raised their price target on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Truist Financial lifted their target price on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Barclays reduced their price objective on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, UBS Group cut their price target on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th.

Insider Activity at Essential Properties Realty Trust

In other news, VP A Joseph Peil sold 13,227 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $32.96, for a total value of $435,961.92. Following the completion of the sale, the vice president directly owned 76,590 shares of the company's stock, valued at approximately $2,524,406.40. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC purchased a new position in Essential Properties Realty Trust during the 2nd quarter valued at about $25,000. Franchise Capital Ltd purchased a new position in Essential Properties Realty Trust during the 1st quarter valued at about $42,000. Caitong International Asset Management Co. Ltd purchased a new position in Essential Properties Realty Trust during the 2nd quarter valued at about $44,000. Quarry LP lifted its position in Essential Properties Realty Trust by 439.4% during the 4th quarter. Quarry LP now owns 1,451 shares of the company's stock valued at $45,000 after acquiring an additional 1,182 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Essential Properties Realty Trust during the 1st quarter valued at about $80,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Price Performance

Shares of NYSE EPRT traded down $0.09 during trading hours on Wednesday, hitting $30.25. 1,177,825 shares of the stock were exchanged, compared to its average volume of 1,930,555. The company has a market cap of $5.99 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 2.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.67 and a current ratio of 5.67. The company's fifty day simple moving average is $31.60 and its two-hundred day simple moving average is $31.69. Essential Properties Realty Trust has a 1-year low of $27.44 and a 1-year high of $34.88.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Essential Properties Realty Trust had a net margin of 44.48% and a return on equity of 6.20%. The business had revenue of $129.11 million for the quarter, compared to the consensus estimate of $131.72 million. During the same period in the previous year, the business posted $0.47 EPS. Essential Properties Realty Trust's revenue was up 25.4% on a year-over-year basis. On average, sell-side analysts predict that Essential Properties Realty Trust will post 1.83 EPS for the current year.

Essential Properties Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. This is a positive change from Essential Properties Realty Trust's previous quarterly dividend of $0.30. Essential Properties Realty Trust's dividend payout ratio is 101.69%.

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.