Essential Properties Realty Trust, Inc. (NYSE:EPRT – Get Rating) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $24.94.
A number of brokerages recently weighed in on EPRT. Mizuho boosted their price target on shares of Essential Properties Realty Trust from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, December 8th. Citigroup reduced their price target on shares of Essential Properties Realty Trust to $22.00 in a research report on Tuesday, November 15th. Raymond James boosted their price target on shares of Essential Properties Realty Trust from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, December 19th. Truist Financial reduced their price target on shares of Essential Properties Realty Trust from $28.00 to $25.00 in a research report on Friday, November 11th. Finally, Evercore ISI reduced their target price on shares of Essential Properties Realty Trust from $26.00 to $24.00 in a report on Tuesday, September 27th.
Institutional Trading of Essential Properties Realty Trust
A number of institutional investors have recently added to or reduced their stakes in EPRT. Penn Capital Management Company LLC raised its stake in Essential Properties Realty Trust by 13.5% during the 3rd quarter. Penn Capital Management Company LLC now owns 463,616 shares of the company’s stock valued at $9,028,000 after purchasing an additional 55,073 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Essential Properties Realty Trust by 7.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,777,299 shares of the company’s stock worth $34,568,000 after purchasing an additional 130,240 shares during the last quarter. Weiss Asset Management LP bought a new stake in Essential Properties Realty Trust during the 3rd quarter worth about $432,000. Teachers Retirement System of The State of Kentucky bought a new stake in Essential Properties Realty Trust during the 3rd quarter worth about $2,932,000. Finally, California State Teachers Retirement System grew its holdings in Essential Properties Realty Trust by 3.0% during the 3rd quarter. California State Teachers Retirement System now owns 168,370 shares of the company’s stock worth $3,275,000 after acquiring an additional 4,859 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.
Essential Properties Realty Trust Stock Performance
NYSE:EPRT opened at $23.46 on Tuesday. The company has a fifty day simple moving average of $22.19 and a two-hundred day simple moving average of $22.14. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.82 and a beta of 1.32. The company has a quick ratio of 7.58, a current ratio of 7.58 and a debt-to-equity ratio of 0.51. Essential Properties Realty Trust has a 52 week low of $18.88 and a 52 week high of $29.60.
Essential Properties Realty Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be given a $0.275 dividend. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Thursday, December 29th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 110.21%.
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.
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