Essential Properties Realty Trust (NYSE:EPRT) Price Target Raised to $37.00

Essential Properties Realty Trust (NYSE:EPRT) had its target price increased by Cantor Fitzgerald from $36.00 to $37.00 in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Mizuho cut their price objective on Essential Properties Realty Trust from $37.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings downgraded Essential Properties Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Wells Fargo & Company raised their price target on Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Barclays cut their price target on shares of Essential Properties Realty Trust from $40.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Essential Properties Realty Trust from $36.00 to $36.25 and gave the company a “buy” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $36.20.

Essential Properties Realty Trust Stock Performance

Essential Properties Realty Trust stock opened at $31.29 on Wednesday. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $30.99 and a 200-day moving average of $31.49. The firm has a market cap of $6.77 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.52 and a beta of 0.88. Essential Properties Realty Trust has a 1-year low of $28.95 and a 1-year high of $34.73.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $161.89 million for the quarter, compared to the consensus estimate of $156.65 million. Essential Properties Realty Trust had a return on equity of 6.34% and a net margin of 43.51%.Essential Properties Realty Trust’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Essential Properties Realty Trust has set its FY 2026 guidance at 2.010-2.050 EPS. Sell-side analysts expect that Essential Properties Realty Trust will post 1.97 EPS for the current year.

Essential Properties Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.31. Essential Properties Realty Trust’s payout ratio is presently 99.22%.

Insider Buying and Selling at Essential Properties Realty Trust

In other news, COO Robert M. Jenkins sold 22,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $32.22, for a total value of $708,840.00. Following the completion of the transaction, the chief operating officer owned 34,168 shares of the company’s stock, valued at approximately $1,100,892.96. This represents a 39.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Essential Properties Realty Trust

Hedge funds have recently made changes to their positions in the company. Vanderbilt University boosted its holdings in Essential Properties Realty Trust by 0.9% in the 1st quarter. Vanderbilt University now owns 36,078 shares of the company’s stock worth $1,095,000 after buying an additional 315 shares during the period. Lido Advisors LLC raised its holdings in Essential Properties Realty Trust by 3.7% during the fourth quarter. Lido Advisors LLC now owns 9,714 shares of the company’s stock valued at $292,000 after acquiring an additional 346 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Essential Properties Realty Trust by 82.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company’s stock valued at $27,000 after acquiring an additional 405 shares in the last quarter. Assetmark Inc. lifted its position in shares of Essential Properties Realty Trust by 47.8% in the first quarter. Assetmark Inc. now owns 1,339 shares of the company’s stock valued at $41,000 after acquiring an additional 433 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Essential Properties Realty Trust by 11.9% in the fourth quarter. Signaturefd LLC now owns 4,110 shares of the company’s stock valued at $122,000 after acquiring an additional 436 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Essential Properties Realty Trust Company Profile

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.