Truist Financial Boosts Essential Properties Realty Trust (NYSE:EPRT) Price Target to $36.00

Essential Properties Realty Trust (NYSE:EPRT) had its price objective increased by Truist Financial from $33.00 to $36.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on EPRT. Raymond James increased their price target on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an outperform rating in a report on Wednesday, August 21st. Wells Fargo & Company reiterated an overweight rating and issued a $37.00 target price (up previously from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Evercore ISI boosted their price target on Essential Properties Realty Trust from $33.00 to $34.00 and gave the company an in-line rating in a research note on Monday, September 16th. UBS Group raised their price objective on Essential Properties Realty Trust from $30.00 to $35.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Finally, Scotiabank upped their target price on Essential Properties Realty Trust from $28.00 to $30.00 and gave the company a sector perform rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Essential Properties Realty Trust currently has an average rating of Moderate Buy and a consensus price target of $32.60.

Essential Properties Realty Trust Stock Down 1.7 %

Essential Properties Realty Trust stock opened at $32.40 on Thursday. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 2.93 and a beta of 1.37. The firm has a fifty day moving average price of $31.64 and a two-hundred day moving average price of $28.73. Essential Properties Realty Trust has a fifty-two week low of $20.49 and a fifty-two week high of $34.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.90 and a quick ratio of 4.90.

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

Essential Properties Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, September 30th. Essential Properties Realty Trust’s payout ratio is 94.31%.

Insider Activity at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.33, for a total transaction of $899,323.61. Following the sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at approximately $14,421,637.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Essential Properties Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised 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 valued at $676,561,000 after buying an additional 1,060,079 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Essential Properties Realty Trust by 18.4% during the fourth quarter. Wellington Management Group LLP now owns 9,931,196 shares of the company’s stock valued at $253,841,000 after purchasing an additional 1,543,346 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Essential Properties Realty Trust by 7.5% in the first 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 in the last quarter. Dimensional Fund Advisors LP raised its position in Essential Properties Realty Trust by 11.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,575,683 shares of the company’s stock worth $71,372,000 after purchasing an additional 264,052 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in 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 worth $54,486,000 after buying an additional 169,222 shares in 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.