Scotiabank Issues Positive Forecast for Essential Properties Realty Trust (NYSE:EPRT) Stock Price

Essential Properties Realty Trust (NYSE:EPRT) had its target price boosted by Scotiabank from $34.00 to $35.00 in a report released on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other research firms have also issued reports on EPRT. Barclays reissued an “overweight” rating and set a $37.00 target price on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Mizuho boosted their price target on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research note on Wednesday, January 28th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.78.

Essential Properties Realty Trust Stock Up 1.8%

Shares of NYSE EPRT opened at $34.56 on Monday. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $31.00 and its two-hundred day moving average is $30.69. Essential Properties Realty Trust has a 52-week low of $27.44 and a 52-week high of $34.65. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.50 and a beta of 0.95.

Essential Properties Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s dividend payout ratio is presently 96.88%.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several hedge funds have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in Essential Properties Realty Trust in the 2nd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Essential Properties Realty Trust by 82.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company’s stock worth $27,000 after buying an additional 405 shares in the last quarter. First Horizon Corp lifted its holdings in shares of Essential Properties Realty Trust by 146.9% in the 4th quarter. First Horizon Corp now owns 1,131 shares of the company’s stock valued at $34,000 after buying an additional 673 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of Essential Properties Realty Trust in the third quarter valued at approximately $46,000. Finally, Clearstead Advisors LLC grew its holdings in Essential Properties Realty Trust by 664.4% during the fourth quarter. Clearstead Advisors LLC now owns 1,590 shares of the company’s stock worth $47,000 after acquiring an additional 1,382 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

About Essential Properties Realty Trust

Essential Properties Realty Trust, Inc (NYSE: EPRT) is a self-administered real estate investment trust that acquires, owns and manages single-tenant commercial properties subject to long-term, triple-net leases. The company’s portfolio primarily consists of small-box retail and industrial assets, including convenience stores, automotive service centers, quick-service restaurants, fitness centers and other necessity-based businesses. Under a triple-net lease structure, tenants assume responsibility for property taxes, insurance and most maintenance expenses, providing Essential Properties with predictable, stable cash flows.

Since its founding in April 2016 and its initial public offering later that year, Essential Properties has pursued a growth strategy focused on partnering with creditworthy tenants operating in densely populated trade areas.