Essential Properties Realty Trust (NYSE:EPRT) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Essential Properties Realty Trust (NYSE:EPRT) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald lifted their target price on shares of Essential Properties Realty Trust from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Scotiabank lowered their price target on Essential Properties Realty Trust from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 24th. Truist Financial started coverage on Essential Properties Realty Trust in a research note on Thursday, October 1st. They issued a “buy” rating and a $31.00 price target on the stock. Deutsche Bank Aktiengesellschaft downgraded Essential Properties Realty Trust from a “buy” rating to a “hold” rating and dropped their price target for the stock from $38.00 to $28.00 in a research note on Tuesday, October 20th. Finally, Barclays cut their price objective on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.96.

Essential Properties Realty Trust Price Performance

NYSE EPRT opened at $27.14 on Friday. Essential Properties Realty Trust has a one year low of $24.62 and a one year high of $34.73. The stock has a 50-day moving average of $27.77 and a 200 day moving average of $30.51. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 2.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.94 and a current ratio of 4.94.

Essential Properties Realty Trust (NYSE:EPRT) last posted its earnings results on Wednesday, October 21st. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). Essential Properties Realty Trust had a net margin of 41.03% and a return on equity of 5.95%. The company had revenue of $168.67 million for the quarter, compared to the consensus estimate of $158.17 million. During the same quarter in the prior year, the company posted $0.48 EPS. Essential Properties Realty Trust’s revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts forecast that Essential Properties Realty Trust will post 1.96 EPS for the current year.

Essential Properties Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.7%. Essential Properties Realty Trust’s dividend payout ratio is 104.07%.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of EPRT. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Essential Properties Realty Trust during the second quarter valued at approximately $7,629,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Essential Properties Realty Trust during the 2nd quarter valued at approximately $5,538,000. Adelante Capital Management LLC bought a new stake in Essential Properties Realty Trust in the 2nd quarter worth approximately $16,406,000. Legal & General Group Plc bought a new stake in Essential Properties Realty Trust in the 2nd quarter worth approximately $39,459,000. Finally, Readystate Asset Management LP bought a new stake in Essential Properties Realty Trust in the 2nd quarter worth approximately $4,603,000. Institutional investors own 96.98% of the company’s stock.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc (NYSE:EPRT) is an internally managed real estate investment trust that acquires, owns and manages single-tenant commercial properties. The company primarily leases these properties to middle-market businesses under long-term, net lease agreements, which generally require tenants to pay a substantial portion of the property’s operating expenses, including taxes, insurance and maintenance.

EPRT’s portfolio is diversified across businesses such as automotive services, medical services, restaurants, retail, early childhood education and other service-oriented industries.