Essential Properties Realty Trust (NYSE:EPRT) Reaches New 52-Week High Following Analyst Upgrade

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) reached a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from $34.00 to $35.00. Scotiabank currently has a sector perform rating on the stock. Essential Properties Realty Trust traded as high as $34.41 and last traded at $34.14, with a volume of 594315 shares changing hands. The stock had previously closed at $33.94.

Several other research firms have also weighed in on EPRT. Mizuho upped their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Evercore reaffirmed an “outperform” rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research report on Wednesday, January 28th. Barclays restated an “overweight” rating and issued a $37.00 target price on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Essential Properties Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $35.78.

Institutional Trading of Essential Properties Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of EPRT. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Essential Properties Realty Trust during the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its holdings in Essential Properties Realty Trust by 82.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company’s stock worth $27,000 after purchasing an additional 405 shares during the period. First Horizon Corp increased its stake in Essential Properties Realty Trust by 146.9% in the fourth quarter. First Horizon Corp now owns 1,131 shares of the company’s stock valued at $34,000 after purchasing an additional 673 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in Essential Properties Realty Trust in the 3rd quarter worth about $46,000. Finally, Clearstead Advisors LLC increased its stake in Essential Properties Realty Trust by 664.4% in the 4th quarter. Clearstead Advisors LLC now owns 1,590 shares of the company’s stock valued at $47,000 after buying an additional 1,382 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Stock Performance

The stock has a market cap of $7.25 billion, a P/E ratio of 26.99, a PEG ratio of 2.50 and a beta of 0.99. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60. The company’s 50-day simple moving average is $30.91 and its 200 day simple moving average is $30.66.

Essential Properties Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s payout ratio is currently 96.88%.

About Essential Properties Realty Trust

Essential Properties Realty Trust, Inc (NYSE: EPRT) is a self-administered real estate investment trust that acquires, owns and manages single-tenant commercial properties subject to long-term, triple-net leases. The company’s portfolio primarily consists of small-box retail and industrial assets, including convenience stores, automotive service centers, quick-service restaurants, fitness centers and other necessity-based businesses. Under a triple-net lease structure, tenants assume responsibility for property taxes, insurance and most maintenance expenses, providing Essential Properties with predictable, stable cash flows.

Since its founding in April 2016 and its initial public offering later that year, Essential Properties has pursued a growth strategy focused on partnering with creditworthy tenants operating in densely populated trade areas.