Essential Properties Realty Trust (NYSE:EPRT) Given New $32.00 Price Target at Mizuho

Key Points

• Mizuho has lowered its price target for Essential Properties Realty Trust from $35.00 to $32.00, maintaining an "outperform" rating which suggests a potential upside of roughly 7% from the previous close.
• Despite the target reduction, analysts have a consensus average rating of "Moderate Buy" for the stock, with a target price averaging $35.07.
• Essential Properties Realty Trust reported $0.46 EPS for the last quarter, slightly missing estimates, but achieved a 25.4% year-over-year revenue increase.

Essential Properties Realty Trust (NYSE:EPRT - Free Report) had its target price decreased by Mizuho from $35.00 to $32.00 in a research report released on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Barclays cut their price objective on Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. UBS Group raised their price objective 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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $35.25.

Essential Properties Realty Trust Price Performance

Essential Properties Realty Trust stock traded down $0.58 during mid-day trading on Thursday, reaching $29.35. 691,182 shares of the company were exchanged, compared to its average volume of 1,661,287. The company has a fifty day simple moving average of $30.70 and a 200-day simple moving average of $31.48. The firm has a market cap of $5.81 billion, a PE ratio of 24.86, a PEG ratio of 2.32 and a beta of 1.08. Essential Properties Realty Trust has a 12 month low of $27.44 and a 12 month high of $34.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.67 and a quick ratio of 5.67.

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

Essential Properties Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 4.1%. Essential Properties Realty Trust's dividend payout ratio (DPR) is 101.69%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Essential Properties Realty Trust in the 2nd quarter valued at about $84,188,000. Invesco Ltd. increased its position in Essential Properties Realty Trust by 51.8% in the 1st quarter. Invesco Ltd. now owns 7,062,006 shares of the company's stock valued at $230,504,000 after buying an additional 2,410,278 shares in the last quarter. Nuveen LLC bought a new stake in Essential Properties Realty Trust in the 1st quarter valued at about $59,546,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in Essential Properties Realty Trust in the 2nd quarter valued at about $37,828,000. Finally, Alyeska Investment Group L.P. boosted its stake in Essential Properties Realty Trust by 66.1% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,959,948 shares of the company's stock valued at $96,613,000 after purchasing an additional 1,178,238 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

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.