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

Essential Properties Realty Trust (NYSE:EPRT) had its price objective increased by UBS Group from $38.00 to $40.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Scotiabank upped their price objective on Essential Properties Realty Trust from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Evercore reiterated an “outperform” rating on shares of Essential Properties Realty Trust in a report on Tuesday, February 17th. Barclays reissued an “overweight” rating and set a $37.00 price target on shares of Essential Properties Realty Trust in a research report on Tuesday, January 13th. Mizuho lifted their price objective on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research note on Wednesday, January 28th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.56.

Essential Properties Realty Trust Stock Performance

Shares of EPRT stock opened at $33.02 on Monday. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 2.48 and a beta of 0.95. Essential Properties Realty Trust has a one year low of $27.44 and a one year high of $34.73. The company’s 50-day simple moving average is $31.61 and its 200-day simple moving average is $30.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.37 and a current ratio of 6.37.

Essential Properties Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.24 annualized dividend and a dividend yield of 3.8%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 96.88%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EPRT. Charles Schwab Investment Management Inc. lifted its holdings in Essential Properties Realty Trust by 8.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,284,712 shares of the company’s stock worth $104,815,000 after purchasing an additional 267,226 shares during the period. AlphaQuest LLC acquired a new position in Essential Properties Realty Trust during the 3rd quarter valued at about $1,242,000. Exchange Traded Concepts LLC raised its position in shares of 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 worth $3,532,000 after buying an additional 69,157 shares in the last quarter. Allworth Financial LP lifted its stake in shares of 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 worth $708,000 after acquiring an additional 21,450 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Essential Properties Realty Trust by 7.6% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 2,391,968 shares of the company’s stock worth $76,328,000 after acquiring an additional 169,413 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 (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.