Essential Properties Realty Trust (NYSE:EPRT) Hits New 1-Year High After Analyst Upgrade

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $34.00 to $35.00. Scotiabank currently has a sector perform rating on the stock. Essential Properties Realty Trust traded as high as $34.41 and last traded at $34.14, with a volume of 594315 shares. The stock had previously closed at $33.94.

A number of other research analysts have also weighed in on EPRT. Cantor Fitzgerald reissued an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Mizuho lifted their price objective on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Evercore reiterated an “outperform” rating on shares of Essential Properties Realty Trust in a research report on Tuesday, February 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research note on Wednesday, January 28th. Finally, Barclays reissued an “overweight” rating and issued a $37.00 price objective on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.78.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several institutional investors have recently modified their holdings of EPRT. Twin Peaks Wealth Advisors LLC purchased a new stake in Essential Properties Realty Trust in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Essential Properties Realty Trust by 82.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company’s stock valued at $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% in the 4th quarter. First Horizon Corp now owns 1,131 shares of the company’s stock valued at $34,000 after purchasing an additional 673 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in Essential Properties Realty Trust during the 3rd quarter worth $46,000. Finally, Clearstead Advisors LLC grew its position in Essential Properties Realty Trust by 664.4% during the 4th quarter. Clearstead Advisors LLC now owns 1,590 shares of the company’s stock worth $47,000 after purchasing an additional 1,382 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Trading Up 1.8%

The business’s 50 day simple moving average is $30.91 and its 200 day simple moving average is $30.66. 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 market capitalization of $7.25 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.50 and a beta of 0.99.

Essential Properties Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.24 dividend on an annualized basis and a yield of 3.6%. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s dividend payout ratio is presently 96.88%.

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.