Essential Properties Realty Trust (NYSE:EPRT) Price Target Cut to $32.00 by Analysts at Scotiabank

Essential Properties Realty Trust (NYSE:EPRT) had its price objective reduced by investment analysts at Scotiabank from $33.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential downside of 2.03% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Barclays reduced their target price on Essential Properties Realty Trust from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. B. Riley downgraded Essential Properties Realty Trust from a “buy” rating to a “neutral” rating and lifted their price target for the company from $29.50 to $33.50 in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on Essential Properties Realty Trust in a research note on Wednesday, December 11th. They issued a “buy” rating and a $38.00 price target on the stock. UBS Group lifted their price objective on Essential Properties Realty Trust from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Mizuho lifted their price target on Essential Properties Realty Trust from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.48.

Essential Properties Realty Trust Stock Up 0.5 %

Shares of EPRT traded up $0.15 during mid-day trading on Friday, hitting $32.66. 1,733,390 shares of the company’s stock were exchanged, compared to its average volume of 1,153,654. The company has a market cap of $6.13 billion, a PE ratio of 28.65, a P/E/G ratio of 2.90 and a beta of 1.40. Essential Properties Realty Trust has a 52 week low of $23.58 and a 52 week high of $34.88. The company has a 50-day simple moving average of $31.59 and a 200 day simple moving average of $32.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.36 and a quick ratio of 5.36.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.14. Essential Properties Realty Trust had a return on equity of 6.12% and a net margin of 45.15%. On average, research analysts forecast that Essential Properties Realty Trust will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Essential Properties Realty Trust news, Director Stephen D. Sautel sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $31.99, for a total value of $959,700.00. Following the completion of the sale, the director now owns 218,785 shares in the company, valued at approximately $6,998,932.15. This trade represents a 12.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in Essential Properties Realty Trust by 1.0% during the third quarter. State Street Corp now owns 10,033,209 shares of the company’s stock worth $345,535,000 after buying an additional 96,615 shares during the last quarter. Invesco Ltd. raised its position in shares of Essential Properties Realty Trust by 33.9% in the 4th quarter. Invesco Ltd. now owns 4,651,728 shares of the company’s stock worth $145,506,000 after acquiring an additional 1,178,284 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Essential Properties Realty Trust by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,468,922 shares of the company’s stock worth $152,642,000 after acquiring an additional 118,927 shares in the last quarter. FMR LLC grew its stake in shares of Essential Properties Realty Trust by 6.9% in the 4th quarter. FMR LLC now owns 4,422,710 shares of the company’s stock valued at $138,342,000 after buying an additional 284,036 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Essential Properties Realty Trust by 18.9% in the 4th quarter. Principal Financial Group Inc. now owns 2,948,952 shares of the company’s stock valued at $92,246,000 after buying an additional 469,610 shares during the period. 96.98% of the stock is currently owned by institutional investors.

About Essential Properties Realty Trust

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.