Wells Fargo & Company Has Lowered Expectations for Essential Properties Realty Trust (NYSE:EPRT) Stock Price

Essential Properties Realty Trust (NYSE:EPRT) had its price objective dropped by equities research analysts at Wells Fargo & Company from $37.00 to $34.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.88% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Scotiabank lifted their price target on Essential Properties Realty Trust from $30.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Truist Financial boosted their price objective on Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. UBS Group boosted their price objective on Essential Properties Realty Trust from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their price objective on Essential Properties Realty Trust from $33.00 to $34.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Raymond James boosted their price objective on Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Essential Properties Realty Trust Stock Up 0.3 %

Shares of EPRT stock opened at $31.81 on Monday. The stock has a 50 day moving average of $32.88 and a 200 day moving average of $29.84. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.58 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.69 and a beta of 1.37. Essential Properties Realty Trust has a twelve month low of $22.32 and a twelve month high of $34.51.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16). The company had revenue of $117.13 million for the quarter, compared to analysts’ expectations of $109.73 million. Essential Properties Realty Trust had a net margin of 46.00% and a return on equity of 6.20%. The firm’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. As a group, sell-side analysts expect that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Insider Transactions at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 27,817 shares of Essential Properties Realty Trust stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Essential Properties Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in Essential Properties Realty Trust by 95.2% during the third quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $28,000 after buying an additional 399 shares during the last quarter. Asset Dedication LLC acquired a new position in Essential Properties Realty Trust during the second quarter worth $27,000. Quarry LP boosted its stake in Essential Properties Realty Trust by 611.3% during the second quarter. Quarry LP now owns 1,195 shares of the company’s stock worth $33,000 after buying an additional 1,027 shares during the last quarter. CWM LLC boosted its stake in Essential Properties Realty Trust by 122.9% during the second quarter. CWM LLC now owns 1,244 shares of the company’s stock worth $34,000 after buying an additional 686 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Essential Properties Realty Trust by 116.4% during the second quarter. GAMMA Investing LLC now owns 1,945 shares of the company’s stock worth $54,000 after buying an additional 1,046 shares during the last quarter. Institutional investors and hedge funds 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.