Essential Properties Realty Trust (NYSE:EPRT) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from an outperform rating to a strong-buy rating in a research report report published on Tuesday, MarketBeat Ratings reports. They currently have $37.00 target price on the stock, up from their prior target price of $35.00.

Several other equities analysts have also commented on EPRT. Truist Financial upped their target price on Essential Properties Realty Trust from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Barclays restated an “overweight” rating and issued a $37.00 price target on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research note on Wednesday, January 28th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Finally, Scotiabank raised their target price on shares of Essential Properties Realty Trust from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.60.

Essential Properties Realty Trust Trading Down 0.3%

Shares of Essential Properties Realty Trust stock opened at $32.60 on Tuesday. Essential Properties Realty Trust has a fifty-two week low of $27.44 and a fifty-two week high of $34.73. The business’s fifty day moving average is $31.98 and its two-hundred day moving average is $30.92. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6.84 billion, a PE ratio of 25.47, a P/E/G ratio of 2.41 and a beta of 0.95.

Essential Properties Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.31 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.24 annualized dividend and a yield of 3.8%. Essential Properties Realty Trust’s dividend payout ratio is currently 96.88%.

Hedge Funds Weigh In On Essential Properties Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Cohen & Steers Inc. raised its holdings in Essential Properties Realty Trust by 111.6% in the fourth quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company’s stock valued at $552,031,000 after buying an additional 9,816,042 shares during the period. State Street Corp increased its position 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 in the last quarter. Wellington Management Group LLP raised its stake in shares of Essential Properties Realty Trust by 5.7% in the 4th quarter. Wellington Management Group LLP now owns 7,844,570 shares of the company’s stock valued at $232,670,000 after acquiring an additional 421,364 shares during the period. Invesco Ltd. lifted its holdings in shares of Essential Properties Realty Trust by 3.9% during the 2nd quarter. Invesco Ltd. now owns 7,338,809 shares of the company’s stock valued at $234,181,000 after acquiring an additional 276,803 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Essential Properties Realty Trust by 1,930,360.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company’s stock valued at $199,829,000 after acquiring an additional 6,736,959 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

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.