Brokerages Set Essential Properties Realty Trust, Inc. (NYSE:EPRT) Price Target at $36.60

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) have been given an average rating of “Buy” by the eleven brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $36.60.

Several analysts recently commented on the stock. Raymond James Financial upgraded shares of Essential Properties Realty Trust from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $35.00 to $37.00 in a research report on Tuesday, March 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research note on Wednesday, January 28th. Barclays reissued an “overweight” rating and set a $37.00 target price on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Truist Financial lifted their price target 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. Finally, Scotiabank upped their price target on Essential Properties Realty Trust from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd.

Essential Properties Realty Trust Price Performance

NYSE:EPRT opened at $31.66 on Thursday. 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 company has a 50 day moving average price of $32.03 and a 200-day moving average price of $30.93. Essential Properties Realty Trust has a 1-year low of $27.44 and a 1-year high of $34.73. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95.

Essential Properties Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a $0.31 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.9%. Essential Properties Realty Trust’s payout ratio is 96.88%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC acquired a new stake in Essential Properties Realty Trust in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC raised its position in Essential Properties Realty Trust by 82.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company’s stock worth $27,000 after acquiring an additional 405 shares during the period. First Horizon Corp raised its position in Essential Properties Realty Trust by 146.9% during the fourth quarter. First Horizon Corp now owns 1,131 shares of the company’s stock worth $34,000 after acquiring an additional 673 shares during the period. Salomon & Ludwin LLC purchased a new position in Essential Properties Realty Trust during the third quarter valued at $46,000. Finally, Clearstead Advisors LLC lifted its holdings in Essential Properties Realty Trust by 664.4% during the fourth quarter. Clearstead Advisors LLC now owns 1,590 shares of the company’s stock valued at $47,000 after purchasing an additional 1,382 shares in the last quarter. 96.98% of the stock is 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.