Essential Properties Realty Trust (NYSE:EPRT) Coverage Initiated at Barclays

Barclays started coverage on shares of Essential Properties Realty Trust (NYSE:EPRT) in a report released on Tuesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $35.94 price target on the stock. Barclays‘s target price indicates a potential upside of 14.02% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Wedbush started coverage on shares of Essential Properties Realty Trust in a research note on Monday, August 19th. They issued an “outperform” rating and a $34.00 price target on the stock. Truist Financial upped their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on Essential Properties Realty Trust in a research note on Wednesday, December 11th. They issued a “buy” rating and a $38.00 price objective for the company. Wells Fargo & Company cut their price objective on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Stifel Nicolaus raised their target price on Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Essential Properties Realty Trust has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Essential Properties Realty Trust Trading Down 3.5 %

EPRT opened at $31.52 on Tuesday. The business’s 50 day moving average price is $33.03 and its 200 day moving average price is $31.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59. The stock has a market capitalization of $5.53 billion, a PE ratio of 27.41, a P/E/G ratio of 2.74 and a beta of 1.38. Essential Properties Realty Trust has a one year low of $23.58 and a one year high of $34.88.

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

Hedge Funds Weigh In On Essential Properties Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of EPRT. Duff & Phelps Investment Management Co. purchased a new stake in Essential Properties Realty Trust during the 3rd quarter worth about $69,473,000. Massachusetts Financial Services Co. MA lifted its stake in Essential Properties Realty Trust by 5,380.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,881,960 shares of the company’s stock worth $52,149,000 after purchasing an additional 1,847,618 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in Essential Properties Realty Trust by 3,964.9% in the third quarter. Adelante Capital Management LLC now owns 1,111,634 shares of the company’s stock valued at $37,962,000 after purchasing an additional 1,084,287 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Essential Properties Realty Trust by 434.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,086,529 shares of the company’s stock valued at $37,105,000 after purchasing an additional 883,053 shares during the last quarter. Finally, APG Asset Management US Inc. purchased a new stake in shares of Essential Properties Realty Trust during the 2nd quarter worth approximately $21,274,000. 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.