Essential Properties Realty Trust (NYSE:EPRT) Price Target Cut to $35.50 by Analysts at Stifel Nicolaus

Key Points

• Analysts at Stifel Nicolaus have reduced the price target for Essential Properties Realty Trust from $36.00 to $35.50, while maintaining a "buy" rating for the stock.
• The company reported a decline in earnings per share of $0.46 for the latest quarter, missing analysts' expectations by $0.01.
• Despite the current price target adjustments, the average price target for the stock remains around $35.18, with nine analysts rating it as a "buy."

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) had its target price reduced by equities researchers at Stifel Nicolaus from $36.00 to $35.50 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 18.99% from the stock's previous close.

A number of other research analysts also recently commented on the company. Mizuho reduced their price target on Essential Properties Realty Trust from $35.00 to $32.00 and set an "outperform" rating for the company in a report on Thursday, September 11th. Evercore ISI raised Essential Properties Realty Trust from an "in-line" rating to an "outperform" rating and increased their price target for the company from $34.00 to $36.00 in a report on Monday. Barclays reduced their price target on Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Finally, UBS Group increased their price target on Essential Properties Realty Trust from $36.00 to $38.00 and gave the company a "buy" rating in a report on Friday, August 15th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Essential Properties Realty Trust has an average rating of "Moderate Buy" and an average target price of $35.18.

Essential Properties Realty Trust Stock Up 1.4%

Shares of EPRT stock traded up $0.42 during trading hours on Wednesday, reaching $29.83. The company had a trading volume of 235,784 shares, compared to its average volume of 1,660,347. The company has a market capitalization of $5.91 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 2.32 and a beta of 1.08. Essential Properties Realty Trust has a twelve month low of $27.44 and a twelve month high of $34.88. 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 stock's fifty day simple moving average is $30.67 and its 200 day simple moving average is $31.47.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). The business had revenue of $129.11 million during the quarter, compared to analysts' expectations of $131.72 million. Essential Properties Realty Trust had a net margin of 44.48% and a return on equity of 6.20%. The company's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. As a group, sell-side analysts expect that Essential Properties Realty Trust will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in Essential Properties Realty Trust by 51.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,653 shares of the company's stock valued at $994,000 after purchasing an additional 10,420 shares during the period. Amalgamated Bank boosted its position in Essential Properties Realty Trust by 3.3% during the 1st quarter. Amalgamated Bank now owns 53,128 shares of the company's stock valued at $1,734,000 after purchasing an additional 1,693 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Essential Properties Realty Trust by 12.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,532 shares of the company's stock valued at $4,228,000 after purchasing an additional 14,032 shares during the period. Meritage Portfolio Management boosted its position in Essential Properties Realty Trust by 44.9% during the 1st quarter. Meritage Portfolio Management now owns 238,909 shares of the company's stock valued at $7,798,000 after purchasing an additional 73,994 shares during the period. Finally, Millennium Management LLC boosted its position in Essential Properties Realty Trust by 13.0% during the 1st quarter. Millennium Management LLC now owns 1,394,060 shares of the company's stock valued at $45,502,000 after purchasing an additional 160,772 shares during the period. Institutional investors and hedge funds own 96.98% of the company's stock.

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.

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