Essential Properties Realty Trust (NYSE:EPRT) Given “Overweight” Rating at Wells Fargo & Company

Wells Fargo & Company restated their overweight rating on shares of Essential Properties Realty Trust (NYSE:EPRT) in a report released on Tuesday morning, Benzinga reports. They currently have a $37.00 price objective on the stock, up from their previous price objective of $34.00.

Other equities analysts have also recently issued reports about the stock. Wedbush began coverage on shares of Essential Properties Realty Trust in a report on Monday, August 19th. They issued an outperform rating and a $34.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Essential Properties Realty Trust in a report on Friday, June 28th. They issued a buy rating and a $33.00 target price on the stock. Raymond James lifted their target price 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. Evercore ISI boosted their price objective on shares of 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. Finally, Stifel Nicolaus boosted their price objective on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a buy rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Essential Properties Realty Trust currently has a consensus rating of Moderate Buy and an average price target of $32.60.

Essential Properties Realty Trust Stock Down 1.7 %

Shares of NYSE:EPRT opened at $32.40 on Tuesday. The company has a market capitalization of $5.68 billion, a PE ratio of 26.34, a P/E/G ratio of 2.93 and a beta of 1.37. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59. Essential Properties Realty Trust has a twelve month low of $20.49 and a twelve month high of $34.51. The firm has a 50 day simple moving average of $31.60 and a 200-day simple moving average of $28.68.

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

Essential Properties Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.58%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 94.31%.

Insider Transactions at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 27,817 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $32.33, for a total transaction of $899,323.61. Following the transaction, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in EPRT. Thoroughbred Financial Services LLC lifted its holdings in Essential Properties Realty Trust by 5.3% in the 1st quarter. Thoroughbred Financial Services LLC now owns 12,879 shares of the company’s stock valued at $343,000 after purchasing an additional 654 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Essential Properties Realty Trust by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 230,417 shares of the company’s stock valued at $6,143,000 after purchasing an additional 658 shares in the last quarter. CWM LLC lifted its holdings in Essential Properties Realty Trust by 122.9% in the 2nd quarter. CWM LLC now owns 1,244 shares of the company’s stock valued at $34,000 after purchasing an additional 686 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Essential Properties Realty Trust by 7.8% in the 2nd quarter. CIBC Asset Management Inc now owns 10,673 shares of the company’s stock valued at $296,000 after purchasing an additional 772 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Essential Properties Realty Trust by 1.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 42,586 shares of the company’s stock valued at $1,180,000 after purchasing an additional 800 shares in the last quarter. 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.