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

Essential Properties Realty Trust (NYSE:EPRT) had its price target raised by Scotiabank from $30.00 to $32.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential downside of 1.57% from the company’s previous close.

Several other brokerages have also commented on EPRT. Truist Financial upped their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Raymond James increased their target price on Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus increased their target price on Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a research note on Thursday, September 26th. Evercore ISI increased their target price on Essential Properties Realty Trust from $33.00 to $34.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 target price (up previously from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.75.

Essential Properties Realty Trust Stock Performance

NYSE EPRT opened at $32.51 on Friday. The business’s 50-day moving average price is $31.91 and its 200 day moving average price is $28.99. Essential Properties Realty Trust has a twelve month low of $20.49 and a twelve month high of $34.51. The company has a market capitalization of $5.70 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.13). The firm had revenue of $109.30 million for the quarter, compared to analyst estimates of $102.99 million. Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, research analysts predict that Essential Properties Realty Trust will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total transaction of $899,323.61. Following the transaction, the chief executive officer now owns 446,076 shares of the company’s stock, valued at $14,421,637.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Essential Properties Realty Trust

Hedge funds have recently made changes to their positions in the stock. Creative Planning raised its stake in Essential Properties Realty Trust by 4.3% during the 3rd quarter. Creative Planning now owns 13,450 shares of the company’s stock valued at $459,000 after acquiring an additional 558 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Essential Properties Realty Trust by 63.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,173 shares of the company’s stock valued at $108,000 after purchasing an additional 1,228 shares during the period. Handelsbanken Fonder AB increased its position in shares of Essential Properties Realty Trust by 1,669.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 603,500 shares of the company’s stock valued at $20,610,000 after purchasing an additional 569,400 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Essential Properties Realty Trust during the 2nd quarter valued at $622,000. Finally, Truist Financial Corp increased its position in shares of Essential Properties Realty Trust by 6.1% during the 2nd quarter. Truist Financial Corp now owns 78,649 shares of the company’s stock valued at $2,179,000 after purchasing an additional 4,515 shares during the period. Institutional investors own 96.98% of the company’s stock.

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.