UBS Group Boosts Essential Properties Realty Trust (NYSE:EPRT) Price Target to $39.00

Essential Properties Realty Trust (NYSE:EPRT) had its target price increased by UBS Group from $36.00 to $39.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently weighed in on EPRT. Raymond James boosted their price target 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 upped their target price on Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wedbush started coverage on shares of Essential Properties Realty Trust in a research report on Monday, August 19th. They set an “outperform” rating and a $34.00 price target for the company. Scotiabank lifted their price objective on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 price objective (up previously from $34.00) on shares of Essential Properties Realty Trust in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.06.

Essential Properties Realty Trust Trading Up 0.9 %

NYSE:EPRT opened at $34.15 on Wednesday. The firm has a 50 day moving average of $32.40 and a 200 day moving average of $29.22. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.59. Essential Properties Realty Trust has a 52 week low of $20.49 and a 52 week high of $34.51. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.78 and a beta of 1.37.

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

Essential Properties Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.40%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 94.31%.

Insider Transactions at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 27,817 shares of Essential Properties Realty Trust stock in a transaction dated 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 owns 446,076 shares in the company, valued at $14,421,637.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Essential Properties Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Essential Properties Realty Trust by 5,380.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,881,960 shares of the company’s stock valued at $52,149,000 after purchasing an additional 1,847,618 shares in the last quarter. Wellington Management Group LLP lifted its stake in Essential Properties Realty Trust by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 9,931,196 shares of the company’s stock valued at $253,841,000 after buying an additional 1,543,346 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 buying an additional 1,060,079 shares in the last quarter. APG Asset Management US Inc. acquired a new stake in Essential Properties Realty Trust in the 2nd quarter worth about $21,274,000. Finally, Handelsbanken Fonder AB increased its stake in 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 worth $20,610,000 after buying an additional 569,400 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.