Scotiabank Raises Essential Properties Realty Trust (NYSE:EPRT) Price Target to $33.00

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) had its target price lifted by equities researchers at Scotiabank from $32.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price objective points to a potential upside of 2.21% from the company's previous close.

A number of other research firms have also issued reports on EPRT. B. Riley lowered Essential Properties Realty Trust from a "buy" rating to a "neutral" rating and upped their price target for the company from $29.50 to $33.50 in a research report on Wednesday, February 19th. Truist Financial upped their price target on Essential Properties Realty Trust from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Capital One Financial assumed coverage on Essential Properties Realty Trust in a research report on Wednesday, February 12th. They issued an "overweight" rating and a $35.00 price target for the company. Finally, Barclays dropped their price target on Essential Properties Realty Trust from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.77.

Essential Properties Realty Trust Stock Performance

EPRT traded up $0.28 on Monday, reaching $32.29. 1,286,197 shares of the stock were exchanged, compared to its average volume of 1,432,376. The firm has a market capitalization of $6.38 billion, a PE ratio of 28.32, a PEG ratio of 2.90 and a beta of 1.09. The company's 50-day moving average price is $31.60 and its 200 day moving average price is $31.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.36 and a quick ratio of 5.36. Essential Properties Realty Trust has a fifty-two week low of $26.07 and a fifty-two week high of $34.88.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Essential Properties Realty Trust had a return on equity of 6.12% and a net margin of 45.15%. The business had revenue of $129.35 million during the quarter, compared to analyst estimates of $124.88 million. During the same period in the previous year, the company posted $0.42 EPS. The business's revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Essential Properties Realty Trust will post 1.83 EPS for the current fiscal year.

Insider Activity at Essential Properties Realty Trust

In other news, Director Stephen D. Sautel sold 12,500 shares of Essential Properties Realty Trust stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $32.54, for a total transaction of $406,750.00. Following the sale, the director now owns 178,785 shares in the company, valued at approximately $5,817,663.90. The trade was a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Essential Properties Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in EPRT. Vanguard Group Inc. increased its position in Essential Properties Realty Trust by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 27,966,449 shares of the company's stock valued at $912,825,000 after acquiring an additional 870,486 shares during the period. Wellington Management Group LLP increased its position in Essential Properties Realty Trust by 0.6% in the 1st quarter. Wellington Management Group LLP now owns 8,511,088 shares of the company's stock valued at $277,802,000 after acquiring an additional 48,904 shares during the period. 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 acquiring an additional 2,410,278 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Essential Properties Realty Trust by 0.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,962,740 shares of the company's stock valued at $161,984,000 after acquiring an additional 41,230 shares during the period. Finally, FMR LLC increased its position in Essential Properties Realty Trust by 6.9% in the 4th quarter. FMR LLC now owns 4,422,710 shares of the company's stock valued at $138,342,000 after acquiring an additional 284,036 shares during the period. Institutional investors and hedge funds own 96.98% of the company's stock.

Essential Properties Realty Trust Company Profile

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.