Essential Properties Realty Trust (NYSE:EPRT) Price Target Raised to $40.00 at UBS Group

Essential Properties Realty Trust (NYSE:EPRT) had its price objective upped by UBS Group from $39.00 to $40.00 in a research report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other brokerages have also issued reports on EPRT. Wedbush started coverage on Essential Properties Realty Trust in a report on Monday, August 19th. They set an “outperform” rating and a $34.00 price objective on the stock. Stifel Nicolaus lifted their price target on Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Mizuho raised their target price on shares of Essential Properties Realty Trust from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial upped their price target on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.37.

Essential Properties Realty Trust Stock Performance

NYSE EPRT traded up $0.11 during mid-day trading on Thursday, reaching $32.77. 302,162 shares of the stock were exchanged, compared to its average volume of 1,337,801. The business’s 50 day moving average is $33.00 and its 200-day moving average is $30.16. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59. Essential Properties Realty Trust has a 1 year low of $23.01 and a 1 year high of $34.51. The company has a market capitalization of $5.75 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.75 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). The company had revenue of $117.13 million for the quarter, compared to analysts’ expectations of $109.73 million. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 46.00%. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. On average, equities research analysts forecast 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 was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust’s payout ratio is currently 100.87%.

Insider Buying and Selling

In related news, CEO Peter M. Mavoides sold 27,817 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the completion of the sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. The trade was a 5.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in shares of Essential Properties Realty Trust by 1.0% during the 3rd quarter. State Street Corp now owns 10,033,209 shares of the company’s stock valued at $345,535,000 after acquiring an additional 96,615 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Essential Properties Realty Trust during the third quarter worth $281,000. Morse Asset Management Inc bought a new position in shares of Essential Properties Realty Trust in the 3rd quarter worth about $79,000. NFJ Investment Group LLC acquired a new position in shares of Essential Properties Realty Trust in the 3rd quarter valued at about $1,902,000. Finally, Janus Henderson Group PLC grew its position in shares of Essential Properties Realty Trust by 10.3% during the 3rd quarter. Janus Henderson Group PLC now owns 100,971 shares of the company’s stock valued at $3,449,000 after buying an additional 9,420 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.