Essential Properties Realty Trust (NYSE:EPRT) Price Target Lowered to $37.00 at Barclays

Essential Properties Realty Trust (NYSE:EPRT) had its target price reduced by Barclays from $40.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 11.27% from the stock’s previous close.

Several other brokerages have also commented on EPRT. Wall Street Zen upgraded Essential Properties Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Mizuho dropped their target price on Essential Properties Realty Trust from $37.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Stifel Nicolaus lifted their price target on Essential Properties Realty Trust from $36.00 to $36.50 and gave the company a “buy” rating in a report on Thursday, April 23rd. Weiss Ratings raised Essential Properties Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 13th. Finally, Scotiabank upgraded Essential Properties Realty Trust from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the stock from $34.00 to $33.00 in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $36.14.

Essential Properties Realty Trust Trading Down 0.3%

NYSE EPRT opened at $33.25 on Wednesday. Essential Properties Realty Trust has a 12 month low of $28.95 and a 12 month high of $34.73. The company’s 50-day moving average price is $30.82 and its 200-day moving average price is $31.38. The stock has a market cap of $7.19 billion, a PE ratio of 26.18, a PEG ratio of 2.63 and a beta of 0.88. The company has a current ratio of 5.12, a quick ratio of 5.12 and a debt-to-equity ratio of 0.59.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.05). Essential Properties Realty Trust had a net margin of 43.46% and a return on equity of 6.30%. The company had revenue of $158.80 million during the quarter, compared to analysts’ expectations of $151.87 million. During the same period last year, the firm earned $0.45 earnings per share. Essential Properties Realty Trust’s quarterly revenue was up 22.8% on a year-over-year basis. Equities research analysts forecast that Essential Properties Realty Trust will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On Essential Properties Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cohen & Steers Inc. boosted its holdings in shares of Essential Properties Realty Trust by 111.6% in the 4th quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company’s stock valued at $552,031,000 after acquiring an additional 9,816,042 shares during the last quarter. State Street Corp increased its stake in shares of Essential Properties Realty Trust by 8.2% in the second quarter. State Street Corp now owns 11,131,871 shares of the company’s stock worth $358,488,000 after acquiring an additional 843,877 shares during the period. Wellington Management Group LLP raised its holdings in shares of Essential Properties Realty Trust by 5.7% during the fourth quarter. Wellington Management Group LLP now owns 7,844,570 shares of the company’s stock worth $232,670,000 after purchasing an additional 421,364 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Essential Properties Realty Trust by 1,930,360.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company’s stock valued at $199,829,000 after purchasing an additional 6,736,959 shares during the period. Finally, Geode Capital Management LLC lifted its position in Essential Properties Realty Trust by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 5,240,401 shares of the company’s stock valued at $155,452,000 after purchasing an additional 25,857 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

Essential Properties Realty Trust Company Profile

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.