Scotiabank Raises Essential Properties Realty Trust (NYSE:EPRT) Price Target to $33.00

Essential Properties Realty Trust (NYSE:EPRT) had its target price hoisted by equities researchers at Scotiabank from $32.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential downside of 2.87% from the stock’s previous close.

Several other research firms also recently weighed in on EPRT. Stifel Nicolaus upped their price target on Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wedbush assumed coverage on Essential Properties Realty Trust in a research report on Monday, August 19th. They set an “outperform” rating and a $34.00 target price for the company. 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 report on Monday, September 16th. Wells Fargo & Company lowered their target price on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, 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 report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.44.

Essential Properties Realty Trust Price Performance

NYSE EPRT opened at $33.98 on Monday. Essential Properties Realty Trust has a 52 week low of $23.42 and a 52 week high of $34.51. The firm has a market capitalization of $5.96 billion, a P/E ratio of 29.53, a PEG ratio of 2.78 and a beta of 1.37. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $33.16 and a 200-day moving average price of $30.53.

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

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 business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the completion of the transaction, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at approximately $14,421,637.08. The trade was a 5.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EPRT. Asset Dedication LLC acquired a new position in shares of Essential Properties Realty Trust during the 2nd quarter worth approximately $27,000. Blue Trust Inc. raised its stake in shares of Essential Properties Realty Trust by 95.2% during the 3rd quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $28,000 after buying an additional 399 shares during the period. Quarry LP raised its stake in Essential Properties Realty Trust by 611.3% in the 2nd quarter. Quarry LP now owns 1,195 shares of the company’s stock valued at $33,000 after purchasing an additional 1,027 shares during the last quarter. CWM LLC raised its stake in Essential Properties Realty Trust by 122.9% in the 2nd quarter. CWM LLC now owns 1,244 shares of the company’s stock valued at $34,000 after purchasing an additional 686 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Essential Properties Realty Trust by 116.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,945 shares of the company’s stock valued at $54,000 after purchasing an additional 1,046 shares during the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

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.