Scotiabank Lowers Essential Properties Realty Trust (NYSE:EPRT) Price Target to $34.00

Key Points

• Scotiabank cut its price target on Essential Properties Realty Trust (NYSE:EPRT) from $35 to $34, while keeping a sector perform rating. The new target still implies about 8.8% upside from the current stock price.
• Analyst sentiment remains mostly positive overall, with the stock carrying an average Buy rating and a consensus price target of $36.85. However, one firm recently downgraded EPRT to sell, showing some mixed views.
• EPRT reported Q1 earnings of $0.28 per share, below estimates of $0.33, even though revenue came in above expectations at $158.8 million and rose 22.8% year over year. The stock traded around $31.25 on Tuesday, near its 52-week range and below the new target.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) had its price target cut by analysts at Scotiabank from $35.00 to $34.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price objective points to a potential upside of 8.80% from the stock's current price.

Several other research firms have also issued reports on EPRT. Wall Street Zen lowered shares of Essential Properties Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. UBS Group upped their target price on shares of Essential Properties Realty Trust from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Cantor Fitzgerald restated an "overweight" rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Barclays raised their target price on shares of Essential Properties Realty Trust from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Finally, Truist Financial boosted their target price on Essential Properties Realty Trust from $34.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $36.85.

Essential Properties Realty Trust Price Performance

Shares of EPRT traded down $0.10 during trading hours on Tuesday, reaching $31.25. 232,161 shares of the stock traded hands, compared to its average volume of 2,106,891. The company has a current ratio of 5.12, a quick ratio of 5.12 and a debt-to-equity ratio of 0.59. Essential Properties Realty Trust has a 52-week low of $28.95 and a 52-week high of $34.73. The company's 50-day moving average price is $32.20 and its two-hundred day moving average price is $31.31. The company has a market cap of $6.76 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 2.50 and a beta of 0.91.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.05). Essential Properties Realty Trust had a return on equity of 6.30% and a net margin of 43.46%.The business had revenue of $158.80 million during the quarter, compared to the consensus estimate of $151.87 million. During the same quarter last year, the firm earned $0.45 earnings per share. The business's quarterly revenue was up 22.8% on a year-over-year basis. Essential Properties Realty Trust has set its FY 2026 guidance at 2.000-2.050 EPS. On average, analysts anticipate that Essential Properties Realty Trust will post 1.96 earnings per share for the current year.

Insider Transactions at Essential Properties Realty Trust

In related news, CFO Robert Webb Salisbury sold 5,851 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $31.88, for a total transaction of $186,529.88. Following the sale, the chief financial officer owned 8,310 shares of the company's stock, valued at $264,922.80. This trade represents a 41.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP A Joseph Peil sold 19,657 shares of the firm's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $32.10, for a total value of $630,989.70. Following the sale, the vice president owned 76,525 shares in the company, valued at $2,456,452.50. This trade represents a 20.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several hedge funds have recently made changes to their positions in EPRT. EverSource Wealth Advisors LLC increased its holdings in shares of Essential Properties Realty Trust by 82.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. First Horizon Corp boosted its position in Essential Properties Realty Trust by 146.9% in the fourth quarter. First Horizon Corp now owns 1,131 shares of the company's stock valued at $34,000 after buying an additional 673 shares in the last quarter. Assetmark Inc. boosted its position in Essential Properties Realty Trust by 47.8% in the first quarter. Assetmark Inc. now owns 1,339 shares of the company's stock valued at $41,000 after buying an additional 433 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Essential Properties Realty Trust by 664.4% in the fourth quarter. Clearstead Advisors LLC now owns 1,590 shares of the company's stock valued at $47,000 after buying an additional 1,382 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Essential Properties Realty Trust by 273.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,614 shares of the company's stock worth $48,000 after purchasing an additional 1,182 shares during the last quarter. Institutional investors own 96.98% of the company's stock.

About Essential Properties Realty Trust

Essential Properties Realty Trust, Inc NYSE: EPRT is a self-administered real estate investment trust that acquires, owns and manages single-tenant commercial properties subject to long-term, triple-net leases. The company’s portfolio primarily consists of small-box retail and industrial assets, including convenience stores, automotive service centers, quick-service restaurants, fitness centers and other necessity-based businesses. Under a triple-net lease structure, tenants assume responsibility for property taxes, insurance and most maintenance expenses, providing Essential Properties with predictable, stable cash flows.

Since its founding in April 2016 and its initial public offering later that year, Essential Properties has pursued a growth strategy focused on partnering with creditworthy tenants operating in densely populated trade areas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.