Essential Properties Realty Trust (NYSE:EPRT) Stock Price Target Cut by Wells Fargo & Company

Essential Properties Realty Trust (NYSE:EPRT) had its price target dropped by Wells Fargo & Company from $36.00 to $30.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 18.03% from the company’s previous close.

A number of other brokerages also recently commented on EPRT. Weiss Ratings downgraded shares of Essential Properties Realty Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Mizuho lowered their price target on shares of Essential Properties Realty Trust from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday. Wall Street Zen raised shares of Essential Properties Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Scotiabank reduced their price objective on shares of Essential Properties Realty Trust from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Finally, Barclays lowered their target price on shares of Essential Properties Realty Trust from $40.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.42.

Essential Properties Realty Trust Stock Down 2.6%

Shares of NYSE:EPRT traded down $0.67 on Monday, reaching $25.42. The company had a trading volume of 449,290 shares, compared to its average volume of 2,054,516. The firm has a market capitalization of $5.50 billion, a PE ratio of 19.73, a PEG ratio of 2.27 and a beta of 0.82. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.65. Essential Properties Realty Trust has a 52-week low of $24.62 and a 52-week high of $34.73. The firm’s 50 day simple moving average is $28.29 and its 200-day simple moving average is $30.18.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Essential Properties Realty Trust had a return on equity of 6.34% and a net margin of 43.51%. The firm had revenue of $161.89 million during the quarter, compared to analysts’ expectations of $156.65 million. During the same period in the prior year, the business posted $0.46 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Essential Properties Realty Trust has set its FY 2026 guidance at 2.010-2.050 EPS. As a group, analysts expect that Essential Properties Realty Trust will post 1.97 earnings per share for the current fiscal year.

Insider Transactions at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, COO Robert M. Jenkins sold 22,000 shares of the stock in a transaction dated 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 sale, the chief operating officer directly owned 34,168 shares in the company, valued at approximately $1,100,892.96. This trade represents a 39.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Essential Properties Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Essential Properties Realty Trust during the 2nd quarter worth approximately $5,538,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Essential Properties Realty Trust during the second quarter worth $7,629,000. Adelante Capital Management LLC acquired a new stake in shares of Essential Properties Realty Trust during the second quarter worth $16,406,000. Readystate Asset Management LP acquired a new stake in shares of Essential Properties Realty Trust during the second quarter worth $4,603,000. Finally, Bank of America Corp DE increased its position in shares of Essential Properties Realty Trust by 45.5% in the 1st quarter. Bank of America Corp DE now owns 1,329,642 shares of the company’s stock valued at $40,368,000 after acquiring an additional 415,666 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc is a real estate investment trust that owns and manages a diversified portfolio of single-tenant commercial properties. The company generally leases its properties to businesses under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Essential Properties focuses primarily on service-oriented and experience-based businesses, including automotive services, health and fitness, medical and dental services, restaurants, early childhood education and other businesses that are often less suited to traditional retail real estate.