Essential Properties Realty Trust (NYSE:EPRT) Reaches New 1-Year Low Following Analyst Downgrade

Key Points

• Essential Properties Realty Trust fell to a new 52-week low of $26.45 after Scotiabank cut its price target from $33 to $30, though it maintained an “outperform” rating.
• Despite the decline, analysts remain broadly positive: the stock has a consensus “Buy” rating and a $35.75 average price target, while institutional investors own 96.98% of shares.
• The company reported quarterly revenue of $161.89 million, up 18.1% year over year, and beat earnings expectations. It also declared a $0.32 quarterly dividend, representing a 4.8% annualized yield.

Essential Properties Realty Trust, Inc. (NYSE:EPRT - Get Free Report)'s share price reached a new 52-week low during trading on Thursday after Scotiabank lowered their price target on the stock from $33.00 to $30.00. Scotiabank currently has an outperform rating on the stock. Essential Properties Realty Trust traded as low as $26.45 and last traded at $26.4150, with a volume of 1042354 shares changing hands. The stock had previously closed at $26.87.

Several other analysts have also issued reports on EPRT. Wells Fargo & Company boosted their target price on Essential Properties Realty Trust from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Barclays decreased their price objective on Essential Properties Realty Trust from $40.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Essential Properties Realty Trust from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 3rd. Mizuho cut their price objective on Essential Properties Realty Trust from $34.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, September 17th. Finally, Evercore restated an "outperform" rating and set a $37.00 target price on shares of Essential Properties Realty Trust in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $35.75.

Insider Activity at Essential Properties Realty Trust

In related news, COO Robert M. Jenkins sold 22,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $32.22, for a total transaction of $708,840.00. Following the completion of the sale, the chief operating officer owned 34,168 shares in the company, valued at approximately $1,100,892.96. This trade represents a 39.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Essential Properties Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Adelante Capital Management LLC purchased a new position in Essential Properties Realty Trust during the second quarter valued at $16,406,000. Cohen & Steers Inc. lifted its stake in Essential Properties Realty Trust by 111.6% in the 4th quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company's stock worth $552,031,000 after purchasing an additional 9,816,042 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Essential Properties Realty Trust during the 2nd quarter valued at about $5,538,000. Bank of America Corp DE boosted its holdings in shares of Essential Properties Realty Trust by 45.5% during the 1st quarter. Bank of America Corp DE now owns 1,329,642 shares of the company's stock valued at $40,368,000 after purchasing an additional 415,666 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Essential Properties Realty Trust by 9.0% during the fourth quarter. Legal & General Group Plc now owns 1,397,170 shares of the company's stock valued at $41,440,000 after purchasing an additional 115,768 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Stock Down 1.7%

The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average price of $30.37 and a 200-day moving average price of $30.96. The stock has a market capitalization of $5.71 billion, a P/E ratio of 20.48, a PEG ratio of 2.19 and a beta of 0.85.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Essential Properties Realty Trust had a return on equity of 6.34% and a net margin of 43.51%.The business had revenue of $161.89 million during the quarter, compared to analysts' expectations of $156.65 million. During the same quarter last year, the business posted $0.46 EPS. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. Essential Properties Realty Trust has set its FY 2026 guidance at 2.010-2.050 EPS. As a group, research analysts forecast that Essential Properties Realty Trust, Inc. will post 1.97 EPS for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a $0.32 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 4.8%. Essential Properties Realty Trust's dividend payout ratio (DPR) is 99.22%.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc NYSE: EPRT is a real estate investment trust that owns and manages a diversified portfolio of single-tenant commercial properties across the United States. The company primarily invests in properties leased to middle-market businesses operating in service-oriented and experience-based industries.

Essential Properties generally leases its properties under long-term, triple-net agreements. Under these arrangements, tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.

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