Royal Bank of Canada Initiates Coverage on Essential Properties Realty Trust (NYSE:EPRT)

Analysts at Royal Bank of Canada began coverage on shares of Essential Properties Realty Trust (NYSE:EPRT) in a report issued on Friday, MarketBeat.com reports. The firm set a “sector perform” rating and a $21.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 7.42% from the stock’s current price.

Several other equities research analysts have also recently commented on EPRT. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Bank of America boosted their price target on shares of Armstrong World Industries from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. ValuEngine raised shares of WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Credit Suisse Group set a GBX 190 ($2.48) price target on shares of Barclays and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Finally, SunTrust Banks restated a “buy” rating and set a $30.00 price objective on shares of Yext in a research note on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Essential Properties Realty Trust presently has a consensus rating of “Buy” and an average price target of $19.29.

Shares of NYSE:EPRT opened at $19.55 on Friday. The business’s 50-day simple moving average is $20.75. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 0.49. Essential Properties Realty Trust has a one year low of $13.05 and a one year high of $21.83.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.14). Essential Properties Realty Trust had a return on equity of 2.40% and a net margin of 19.25%. The business had revenue of $31.11 million for the quarter, compared to the consensus estimate of $29.27 million. As a group, equities analysts forecast that Essential Properties Realty Trust will post 1.17 EPS for the current fiscal year.

In related news, insider Peter M. Mavoides sold 43,891 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $19.82, for a total value of $869,919.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gregg A. Seibert sold 24,352 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $19.82, for a total transaction of $482,656.64. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its stake in Essential Properties Realty Trust by 7.3% in the 1st quarter. State of Alaska Department of Revenue now owns 11,493 shares of the company’s stock valued at $223,000 after buying an additional 784 shares during the last quarter. Foundry Partners LLC grew its stake in Essential Properties Realty Trust by 5.0% in the 1st quarter. Foundry Partners LLC now owns 28,320 shares of the company’s stock valued at $553,000 after buying an additional 1,350 shares during the last quarter. Legal & General Group Plc grew its stake in Essential Properties Realty Trust by 29.2% in the 4th quarter. Legal & General Group Plc now owns 6,976 shares of the company’s stock valued at $97,000 after buying an additional 1,577 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Essential Properties Realty Trust in the 1st quarter valued at about $37,000. Finally, Nisa Investment Advisors LLC acquired a new position in Essential Properties Realty Trust in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.

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Analyst Recommendations for Essential Properties Realty Trust (NYSE:EPRT)

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