Essential Properties Realty Trust (NYSE:EPRT) Stock Gets Price Target Trim from Mizuho

Essential Properties Realty Trust (NYSE:EPRT) had its price objective reduced by Mizuho from $30.00 to $29.00 in a research note released on Monday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the company. Scotiabank dropped their target price on Essential Properties Realty Trust from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 24th. Cantor Fitzgerald increased their price target on shares of Essential Properties Realty Trust from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Truist Financial began coverage on shares of Essential Properties Realty Trust in a report on Thursday, October 1st. They set a “buy” rating and a $31.00 price target for the company. Barclays lowered their price objective on shares of Essential Properties Realty Trust from $40.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of Essential Properties Realty Trust from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.57.

Essential Properties Realty Trust Stock Down 3.5%

NYSE:EPRT opened at $24.86 on Monday. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.24 and a beta of 0.82. Essential Properties Realty Trust has a 1-year low of $24.62 and a 1-year high of $34.73. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average price is $28.00 and its 200 day moving average price is $30.07.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. Essential Properties Realty Trust had a return on equity of 6.34% and a net margin of 43.51%. The firm had revenue of $168.67 million during the quarter, compared to the consensus estimate of $158.17 million. During the same period in the prior year, the business earned $0.48 EPS. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts forecast that Essential Properties Realty Trust will post 1.97 earnings per share for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.28 dividend on an annualized basis and a yield of 5.1%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 99.22%.

Insider Transactions at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, COO Robert M. Jenkins sold 22,000 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $32.22, for a total value of $708,840.00. Following the transaction, the chief operating officer owned 34,168 shares in the company, valued at $1,100,892.96. The trade was a 39.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Essential Properties Realty Trust during the 2nd quarter worth about $1,183,153,000. Dimensional Fund Advisors LP increased its holdings in shares of Essential Properties Realty Trust by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,101,020 shares of the company’s stock valued at $94,151,000 after acquiring an additional 184,196 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Essential Properties Realty Trust by 3.9% during the 1st quarter. Principal Financial Group Inc. now owns 2,771,898 shares of the company’s stock valued at $84,156,000 after acquiring an additional 103,311 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Essential Properties Realty Trust in the 2nd quarter valued at approximately $52,056,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Essential Properties Realty Trust in the 2nd quarter valued at approximately $51,164,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc (NYSE:EPRT) is an internally managed real estate investment trust that acquires, owns and manages single-tenant commercial properties. The company primarily leases these properties to middle-market businesses under long-term, net lease agreements, which generally require tenants to pay a substantial portion of the property’s operating expenses, including taxes, insurance and maintenance.

EPRT’s portfolio is diversified across businesses such as automotive services, medical services, restaurants, retail, early childhood education and other service-oriented industries.