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

Essential Properties Realty Trust (NYSE:EPRT) had its price objective raised by UBS Group from $38.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 17.09% from the stock’s current price.

Other analysts have also issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research report on Wednesday, January 28th. Barclays reaffirmed an “overweight” rating and issued a $37.00 price target on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. Mizuho upped their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Scotiabank lifted their price target on Essential Properties Realty Trust from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Essential Properties Realty Trust Stock Down 0.5%

Essential Properties Realty Trust stock traded down $0.18 during mid-day trading on Monday, hitting $34.16. The company’s stock had a trading volume of 2,089,401 shares, compared to its average volume of 1,968,009. Essential Properties Realty Trust has a 52-week low of $27.44 and a 52-week high of $34.73. The company has a market cap of $7.17 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.37 and a quick ratio of 6.37. The firm’s 50 day moving average is $31.39 and its 200 day moving average is $30.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EPRT. Charles Schwab Investment Management Inc. grew its holdings in Essential Properties Realty Trust by 8.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,284,712 shares of the company’s stock valued at $104,815,000 after buying an additional 267,226 shares during the last quarter. AlphaQuest LLC bought a new position in Essential Properties Realty Trust during the third quarter worth $1,242,000. Exchange Traded Concepts LLC raised its stake in Essential Properties Realty Trust by 139.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 118,698 shares of the company’s stock valued at $3,532,000 after purchasing an additional 69,157 shares during the last quarter. Allworth Financial LP boosted its holdings in Essential Properties Realty Trust by 2,890.8% in the 2nd quarter. Allworth Financial LP now owns 22,192 shares of the company’s stock valued at $708,000 after purchasing an additional 21,450 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Essential Properties Realty Trust by 5.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,378,414 shares of the company’s stock worth $70,782,000 after purchasing an additional 115,567 shares during 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.