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. As of December 31, 2021, it had a portfolio of 1, 451 properties. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2016 and is headquartered in Princeton, New Jersey.
Analysts Set New Price Targets
A number of brokerages recently issued reports on EPRT. Evercore ISI set a $26.00 price objective on Essential Properties Realty Trust in a report on Monday, June 20th. Citigroup raised their price target on Essential Properties Realty Trust to $24.00 in a research report on Tuesday. Truist Financial reduced their price target on Essential Properties Realty Trust from $32.00 to $28.00 and set a "na" rating on the stock in a research report on Monday, May 16th. Raymond James reduced their price target on Essential Properties Realty Trust from $28.00 to $25.00 and set an "outperform" rating on the stock in a research report on Friday, July 8th. Finally, Credit Suisse Group restated a "neutral" rating and set a $22.00 price target on shares of Essential Properties Realty Trust in a research report on Thursday, June 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $26.39.
Essential Properties Realty Trust Stock Up 0.0 %
Essential Properties Realty Trust stock traded up $0.01 during mid-day trading on Tuesday, reaching $24.23. 15,668 shares of the company were exchanged, compared to its average volume of 1,057,015. The business has a fifty day moving average of $22.36 and a 200 day moving average of $23.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.25 and a current ratio of 3.25. The firm has a market cap of $3.24 billion, a P/E ratio of 25.38 and a beta of 1.31. Essential Properties Realty Trust has a 12-month low of $19.73 and a 12-month high of $32.92.
Essential Properties Realty Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 14th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Wednesday, June 29th. This is a positive change from Essential Properties Realty Trust's previous quarterly dividend of $0.26. Essential Properties Realty Trust's dividend payout ratio is currently 113.68%.
Insider Activity
In related news, CEO Peter M. Mavoides purchased 20,000 shares of the business's stock in a transaction on Monday, June 13th. The shares were bought at an average cost of $20.68 per share, with a total value of $413,600.00. Following the transaction, the chief executive officer now owns 459,170 shares of the company's stock, valued at $9,495,635.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.27% of the company's stock.