Essential Properties Realty Trust (NYSE:EPRT) Given New $35.00 Price Target at Mizuho

Essential Properties Realty Trust (NYSE:EPRT) had its price objective raised by Mizuho from $31.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently commented on EPRT. Stifel Nicolaus lifted 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. Scotiabank boosted their price target on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Truist Financial raised their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Raymond James lifted their price objective on Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company lowered their target price on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Essential Properties Realty Trust presently has an average rating of “Moderate Buy” and an average target price of $33.37.

Essential Properties Realty Trust Price Performance

EPRT stock traded up $0.18 during midday trading on Thursday, reaching $32.84. 388,239 shares of the company’s stock traded hands, compared to its average volume of 1,338,189. The company has a 50-day simple moving average of $33.00 and a two-hundred day simple moving average of $30.16. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.69. Essential Properties Realty Trust has a 1-year low of $23.01 and a 1-year high of $34.51. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 2.75 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16). Essential Properties Realty Trust had a net margin of 46.00% and a return on equity of 6.20%. The company had revenue of $117.13 million during the quarter, compared to analyst estimates of $109.73 million. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. On average, analysts anticipate that Essential Properties Realty Trust will post 1.68 earnings per share for the current year.

Essential Properties Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Monday, September 30th. Essential Properties Realty Trust’s payout ratio is currently 100.87%.

Insider Buying and Selling at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.33, for a total value of $899,323.61. Following the transaction, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. This represents a 5.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Essential Properties Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in EPRT. ProShare Advisors LLC raised its stake in Essential Properties Realty Trust by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 31,457 shares of the company’s stock worth $839,000 after purchasing an additional 2,164 shares in the last quarter. Centersquare Investment Management LLC increased its stake in Essential Properties Realty Trust by 25.8% during the 1st quarter. Centersquare Investment Management LLC now owns 19,600 shares of the company’s stock worth $516,000 after acquiring an additional 4,020 shares during the period. Vanguard Group Inc. raised its holdings in Essential Properties Realty Trust by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 25,377,389 shares of the company’s stock valued at $676,561,000 after acquiring an additional 1,060,079 shares in the last quarter. Allstate Corp bought a new stake in shares of Essential Properties Realty Trust during the 1st quarter valued at $2,461,000. Finally, Nicola Wealth Management LTD. grew its holdings in shares of Essential Properties Realty Trust by 65.2% during the 1st quarter. Nicola Wealth Management LTD. now owns 51,161 shares of the company’s stock worth $1,364,000 after purchasing an additional 20,200 shares in the last quarter. Institutional investors and hedge funds 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.