Wells Fargo & Company Boosts Essential Properties Realty Trust (NYSE:EPRT) Price Target to $36.00

Key Points

• Wells Fargo raised its price target on Essential Properties Realty Trust from $35 to $36 and kept an overweight rating, implying about 19.4% upside from the prior close.
• Analyst sentiment remains broadly positive, with the stock carrying a consensus Buy rating and a MarketBeat consensus price target of $36.50, despite a few mixed target revisions from other firms.
• Shares fell 1.4% to $30.15 on Monday, even as the company reported strong revenue growth in its latest quarter, with $158.8 million in revenue up 22.8% year over year.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) had its target price increased by analysts at Wells Fargo & Company from $35.00 to $36.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 19.40% from the stock's previous close.

Several other research analysts have also commented on the stock. Raymond James Financial raised shares of Essential Properties Realty Trust from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $35.00 to $37.00 in a research note on Tuesday, March 17th. Mizuho lowered their price objective on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Evercore reissued an "outperform" rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Essential Properties Realty Trust in a research note on Tuesday, May 26th. Finally, Truist Financial raised their price objective on shares of Essential Properties Realty Trust from $34.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $36.50.

Essential Properties Realty Trust Trading Down 1.4%

Shares of Essential Properties Realty Trust stock traded down $0.43 on Monday, reaching $30.15. The company had a trading volume of 315,299 shares, compared to its average volume of 2,020,841. The firm's 50 day moving average price is $31.46 and its two-hundred day moving average price is $31.37. The firm has a market cap of $6.52 billion, a PE ratio of 23.74, a PEG ratio of 2.42 and a beta of 0.88. Essential Properties Realty Trust has a 52-week low of $28.95 and a 52-week high of $34.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 5.12 and a current ratio of 5.12.

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

Insider Activity at Essential Properties Realty Trust

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

Institutional Trading of Essential Properties Realty Trust

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Essential Properties Realty Trust by 82.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares during the period. First Horizon Corp increased its holdings in shares of Essential Properties Realty Trust by 146.9% in the 4th quarter. First Horizon Corp now owns 1,131 shares of the company's stock valued at $34,000 after acquiring an additional 673 shares during the period. Assetmark Inc. increased its holdings in shares of Essential Properties Realty Trust by 47.8% in the 1st quarter. Assetmark Inc. now owns 1,339 shares of the company's stock valued at $41,000 after acquiring an additional 433 shares during the period. Clearstead Advisors LLC increased its holdings in shares of Essential Properties Realty Trust by 664.4% in the 4th quarter. Clearstead Advisors LLC now owns 1,590 shares of the company's stock valued at $47,000 after acquiring an additional 1,382 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in Essential Properties Realty Trust by 273.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,614 shares of the company's stock valued at $48,000 after buying an additional 1,182 shares during the period. Hedge funds and other 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.

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