Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT – Get Free Report) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $29.00.
Several analysts have weighed in on the stock. Citigroup raised shares of Essential Properties Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $28.50 in a research report on Friday, March 22nd. Scotiabank upped their target price on Essential Properties Realty Trust from $26.00 to $28.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 29th. UBS Group started coverage on Essential Properties Realty Trust in a research report on Friday, May 31st. They set a “buy” rating and a $30.00 price target for the company. Stifel Nicolaus increased their price objective on Essential Properties Realty Trust from $27.00 to $27.50 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group assumed coverage on Essential Properties Realty Trust in a research note on Friday. They issued a “buy” rating and a $33.00 price objective for the company.
Read Our Latest Research Report on Essential Properties Realty Trust
Essential Properties Realty Trust Price Performance
Essential Properties Realty Trust Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.29 dividend. The ex-dividend date is Friday, June 28th. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a yield of 4.23%. Essential Properties Realty Trust’s payout ratio is presently 94.31%.
Insiders Place Their Bets
In related news, Director Stephen D. Sautel sold 25,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $27.09, for a total transaction of $677,250.00. Following the sale, the director now owns 247,492 shares in the company, valued at $6,704,558.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.81% of the company’s stock.
Hedge Funds Weigh In On Essential Properties Realty Trust
A number of hedge funds have recently bought and sold shares of EPRT. Deutsche Bank AG raised its stake in shares of Essential Properties Realty Trust by 31.4% during the 3rd quarter. Deutsche Bank AG now owns 5,305,696 shares of the company’s stock worth $114,762,000 after buying an additional 1,267,534 shares during the period. Hazelview Securities Inc. lifted its holdings in Essential Properties Realty Trust by 112.9% during the first quarter. Hazelview Securities Inc. now owns 867,585 shares of the company’s stock valued at $22,731,000 after purchasing an additional 460,065 shares in the last quarter. Heitman Real Estate Securities LLC grew its position in shares of Essential Properties Realty Trust by 5.7% in the fourth quarter. Heitman Real Estate Securities LLC now owns 1,048,293 shares of the company’s stock valued at $26,794,000 after purchasing an additional 56,990 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Essential Properties Realty Trust during the fourth quarter worth about $2,401,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Essential Properties Realty Trust by 2.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 95,716 shares of the company’s stock worth $2,455,000 after purchasing an additional 1,945 shares during the last quarter. Hedge funds and other 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.
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