Barclays Initiates Coverage on Essential Properties Realty Trust (NYSE:EPRT)

Analysts at Barclays started coverage on shares of Essential Properties Realty Trust (NYSE:EPRT) in a note issued to investors on Tuesday,Benzinga reports. The firm set an “overweight” rating and a $35.94 price target on the stock. Barclays‘s price target would suggest a potential upside of 9.44% from the company’s previous close.

A number of other research firms also recently commented on EPRT. Truist Financial upped their price objective on shares of Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Raymond James increased their price target on shares of 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. Mizuho boosted their price objective on shares of Essential Properties Realty Trust from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Essential Properties Realty Trust in a report on Wednesday, December 11th. They set a “buy” rating and a $38.00 price objective for the company. Finally, Scotiabank lifted their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a “sector perform” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Essential Properties Realty Trust Price Performance

Shares of NYSE:EPRT opened at $32.84 on Tuesday. Essential Properties Realty Trust has a one year low of $23.58 and a one year high of $34.88. The stock has a market cap of $5.76 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. The business’s fifty day moving average price is $33.06 and its two-hundred day moving average price is $31.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59.

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

Hedge Funds Weigh In On Essential Properties Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Essential Properties Realty Trust by 95.2% during the third quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $28,000 after purchasing an additional 399 shares during the period. Asset Dedication LLC acquired a new stake in Essential Properties Realty Trust during the 2nd quarter valued at $27,000. Quarry LP increased its stake in Essential Properties Realty Trust by 611.3% during the 2nd quarter. Quarry LP now owns 1,195 shares of the company’s stock worth $33,000 after buying an additional 1,027 shares during the period. CWM LLC lifted its holdings in Essential Properties Realty Trust by 122.9% in the 2nd quarter. CWM LLC now owns 1,244 shares of the company’s stock worth $34,000 after buying an additional 686 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in Essential Properties Realty Trust in the 3rd quarter valued at about $79,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Essential Properties Realty Trust Company Profile

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.