Essential Properties Realty Trust, Inc. (NYSE:EPRT) Receives $36.60 Average PT from Brokerages

Essential Properties Realty Trust, Inc. (NYSE:EPRT) has been assigned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $36.60.

A number of equities analysts recently issued reports on the company. Barclays reissued an “overweight” rating and issued a $37.00 price objective on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Mizuho boosted their price target on Essential Properties Realty Trust from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. UBS Group increased their price target on Essential Properties Realty Trust from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Finally, Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th.

Essential Properties Realty Trust Price Performance

Shares of NYSE:EPRT opened at $31.35 on Thursday. The firm’s 50 day moving average is $32.06 and its two-hundred day moving average is $30.93. The firm has a market capitalization of $6.58 billion, a P/E ratio of 24.49, a PEG ratio of 2.34 and a beta of 0.95. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60. Essential Properties Realty Trust has a 52 week low of $27.44 and a 52 week high of $34.73.

Essential Properties Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.24 annualized dividend and a yield of 4.0%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 96.88%.

Insider Transactions at Essential Properties Realty Trust

In other news, VP A Joseph Peil sold 19,657 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $32.10, for a total value of $630,989.70. Following the completion of the sale, the vice president directly owned 76,525 shares of the company’s stock, valued at approximately $2,456,452.50. This represents a 20.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Webb Salisbury sold 5,851 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $31.88, for a total transaction of $186,529.88. Following the completion of the transaction, the chief financial officer owned 8,310 shares of the company’s stock, valued at $264,922.80. This trade represents a 41.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Essential Properties Realty Trust

Institutional investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its stake in Essential Properties Realty Trust by 111.6% during the 4th quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company’s stock valued at $552,031,000 after purchasing an additional 9,816,042 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Essential Properties Realty Trust by 1,930,360.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company’s stock worth $199,829,000 after buying an additional 6,736,959 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Essential Properties Realty Trust by 4,681.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,997,593 shares of the company’s stock valued at $118,569,000 after buying an additional 3,913,986 shares during the period. Norges Bank acquired a new stake in shares of Essential Properties Realty Trust in the second quarter valued at $84,188,000. Finally, Balyasny Asset Management L.P. boosted its stake in Essential Properties Realty Trust by 195.4% during the third quarter. Balyasny Asset Management L.P. now owns 3,970,789 shares of the company’s stock valued at $118,171,000 after buying an additional 2,626,478 shares in the last quarter. 96.98% of the stock is currently 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.