Essential Properties Realty Trust (NYSE:EPRT) Downgraded by B. Riley to Neutral

B. Riley downgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from a buy rating to a neutral rating in a research note published on Wednesday morning, MarketBeat.com reports. They currently have $33.50 price objective on the stock, up from their previous price objective of $29.50.

A number of other brokerages have also recently commented on EPRT. Deutsche Bank Aktiengesellschaft started coverage on Essential Properties Realty Trust in a report on Wednesday, December 11th. They issued a “buy” rating and a $38.00 target price for the company. Mizuho lifted their target price on Essential Properties Realty Trust from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Scotiabank lifted their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Barclays dropped their target price on Essential Properties Realty Trust from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Capital One Financial started coverage on Essential Properties Realty Trust in a report on Wednesday, February 12th. They issued an “overweight” rating and a $35.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.55.

Essential Properties Realty Trust Stock Performance

NYSE:EPRT opened at $31.93 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.36 and a quick ratio of 5.36. Essential Properties Realty Trust has a 1 year low of $23.58 and a 1 year high of $34.88. The stock’s 50 day simple moving average is $31.59 and its two-hundred day simple moving average is $32.16. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 2.85 and a beta of 1.40.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.14. Essential Properties Realty Trust had a return on equity of 6.12% and a net margin of 45.15%. As a group, equities analysts anticipate that Essential Properties Realty Trust will post 1.83 earnings per share for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.70%. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Tuesday, December 31st. Essential Properties Realty Trust’s dividend payout ratio is currently 103.51%.

Institutional Investors Weigh In On Essential Properties Realty Trust

Hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Essential Properties Realty Trust by 26.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,424 shares of the company’s stock worth $8,347,000 after buying an additional 51,196 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Essential Properties Realty Trust by 33.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,503,405 shares of the company’s stock worth $85,491,000 after buying an additional 621,445 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Essential Properties Realty Trust by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,712,800 shares of the company’s stock worth $58,492,000 after buying an additional 66,058 shares during the period. Barclays PLC lifted its holdings in shares of Essential Properties Realty Trust by 118.6% in the 3rd quarter. Barclays PLC now owns 297,989 shares of the company’s stock worth $10,176,000 after buying an additional 161,697 shares during the period. Finally, FMR LLC lifted its holdings in shares of Essential Properties Realty Trust by 1.9% in the 3rd quarter. FMR LLC now owns 4,138,674 shares of the company’s stock worth $141,336,000 after buying an additional 76,475 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Company Profile

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.