Evercore ISI Upgrades Essential Properties Realty Trust (NYSE:EPRT) to Outperform

Key Points

• Essential Properties Realty Trust (NYSE:EPRT) was upgraded from an "in-line" rating to "outperform" by Evercore ISI, with a target price of $36.00, indicating a potential upside of 20.60% from the previous close.
• UBS Group also raised its target price for EPRT from $36.00 to $38.00, while Mizuho lowered it from $35.00 to $32.00, demonstrating mixed analyst sentiment around the stock.
• The company reported quarterly earnings with an EPS of $0.46, missing estimates by $0.01, but showed a 25.4% revenue increase year-over-year, signaling growth despite missing short-term expectations.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) was upgraded by investment analysts at Evercore ISI from an "in-line" rating to an "outperform" rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $36.00 price objective on the stock, up from their prior price objective of $34.00. Evercore ISI's target price indicates a potential upside of 20.39% from the stock's previous close.

Other analysts also recently issued reports about the company. Mizuho lowered 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. Barclays reduced their price target on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Finally, UBS Group boosted their price target on shares of Essential Properties Realty Trust from $36.00 to $38.00 and gave the company a "buy" rating in a research 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.18.

Essential Properties Realty Trust Trading Down 1.0%

Shares of EPRT traded down $0.29 during midday trading on Monday, hitting $29.90. 702,948 shares of the stock were exchanged, compared to its average volume of 1,669,009. The stock has a fifty day simple moving average of $30.63 and a 200 day simple moving average of $31.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.67 and a current ratio of 5.67. Essential Properties Realty Trust has a 52-week low of $27.44 and a 52-week high of $34.88. The firm has a market cap of $5.92 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.32 and a beta of 1.08.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last posted its 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 firm had revenue of $129.11 million for the quarter, compared to analyst estimates of $131.72 million. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 44.48%.The firm's revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. On average, research analysts anticipate that Essential Properties Realty Trust will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EPRT. Norges Bank acquired a new position in shares of Essential Properties Realty Trust in the 2nd quarter valued at $84,188,000. Invesco Ltd. grew its stake in Essential Properties Realty Trust by 51.8% during the 1st quarter. Invesco Ltd. now owns 7,062,006 shares of the company's stock worth $230,504,000 after buying an additional 2,410,278 shares during the last quarter. Nuveen LLC acquired a new stake in Essential Properties Realty Trust in the first quarter valued at $59,546,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in Essential Properties Realty Trust during the second quarter worth about $37,828,000. Finally, Alyeska Investment Group L.P. boosted its holdings in Essential Properties Realty Trust by 66.1% during the first quarter. Alyeska Investment Group L.P. now owns 2,959,948 shares of the company's stock worth $96,613,000 after buying an additional 1,178,238 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other 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.