Essential Properties Realty Trust (NYSE:EPRT) Given New $32.00 Price Target at Scotiabank

Essential Properties Realty Trust (NYSE:EPRT) had its price target upped by Scotiabank from $30.00 to $32.00 in a research note released on Friday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other analysts have also weighed in on the company. Evercore ISI lifted their price objective on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an in-line rating in a report on Monday, September 16th. Truist Financial boosted their target price on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. UBS Group lifted their price objective on Essential Properties Realty Trust from $30.00 to $35.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Wells Fargo & Company reaffirmed an overweight rating and set a $37.00 price objective (up from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Finally, Raymond James lifted their price objective on Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an outperform rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $32.75.

Essential Properties Realty Trust Stock Up 1.6 %

Shares of EPRT stock opened at $33.04 on Friday. The stock’s 50 day simple moving average is $32.01 and its 200 day simple moving average is $29.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.90 and a current ratio of 4.90. Essential Properties Realty Trust has a twelve month low of $20.49 and a twelve month high of $34.51. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.78 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13). Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The company had revenue of $109.30 million during the quarter, compared to the consensus estimate of $102.99 million. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. As a group, research analysts predict that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio is currently 94.31%.

Insider Activity

In related news, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the completion of the sale, the chief executive officer now owns 446,076 shares of the company’s stock, valued at $14,421,637.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Essential Properties Realty Trust

A number of institutional investors have recently made changes to their positions in EPRT. Vanguard Group Inc. grew its holdings in shares of Essential Properties Realty Trust by 4.4% in the first quarter. Vanguard Group Inc. now owns 25,377,389 shares of the company’s stock worth $676,561,000 after acquiring an additional 1,060,079 shares during the period. Wellington Management Group LLP increased its holdings in Essential Properties Realty Trust by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 9,931,196 shares of the company’s stock valued at $253,841,000 after acquiring an additional 1,543,346 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Essential Properties Realty Trust by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 2,697,079 shares of the company’s stock valued at $71,904,000 after purchasing an additional 187,256 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Essential Properties Realty Trust by 11.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,575,683 shares of the company’s stock valued at $71,372,000 after buying an additional 264,052 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Essential Properties Realty Trust by 9.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,966,304 shares of the company’s stock valued at $54,486,000 after acquiring an additional 169,222 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

About Essential Properties Realty Trust

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.