Essential Properties Realty Trust, Inc. (NYSE:EPRT) Given Consensus Recommendation of “Buy” by Brokerages

Essential Properties Realty Trust, Inc. (NYSE:EPRT) has received a consensus rating of “Buy” from the nine analysts that are currently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $28.22.

Several research firms have recently commented on EPRT. Stifel Nicolaus lifted their price target on shares of Essential Properties Realty Trust from $27.00 to $27.50 and gave the company a “buy” rating in a research report on Tuesday, March 19th. B. Riley reaffirmed a “buy” rating and issued a $29.00 target price (up from $27.50) on shares of Essential Properties Realty Trust in a research report on Wednesday, March 13th. Mizuho cut their target price on shares of Essential Properties Realty Trust from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. BMO Capital Markets began coverage on shares of Essential Properties Realty Trust in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $29.00 price target for the company. Finally, Citigroup upgraded Essential Properties Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $28.50 in a research note on Friday, March 22nd.

Essential Properties Realty Trust Stock Up 0.6 %

NYSE EPRT opened at $24.91 on Thursday. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.56. Essential Properties Realty Trust has a 52 week low of $20.49 and a 52 week high of $26.77. The business’s fifty day simple moving average is $25.14 and its 200-day simple moving average is $24.29. The firm has a market cap of $4.22 billion, a PE ratio of 20.09, a P/E/G ratio of 1.86 and a beta of 1.27.

Essential Properties Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.285 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.14 annualized dividend and a yield of 4.58%. Essential Properties Realty Trust’s dividend payout ratio is presently 91.94%.

Insider Transactions at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 9,188 shares of Essential Properties Realty Trust stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $26.01, for a total value of $238,979.88. Following the transaction, the chief executive officer now directly owns 554,904 shares of the company’s stock, valued at approximately $14,433,053.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Peter M. Mavoides sold 9,188 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total transaction of $238,979.88. Following the completion of the sale, the chief executive officer now owns 554,904 shares in the company, valued at $14,433,053.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter M. Mavoides sold 5,714 shares of Essential Properties Realty Trust stock in a transaction on Friday, March 8th. The shares were sold at an average price of $25.08, for a total transaction of $143,307.12. Following the completion of the transaction, the chief executive officer now owns 565,892 shares in the company, valued at $14,192,571.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,524 shares of company stock worth $1,113,438. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in Essential Properties Realty Trust by 372.1% in the 4th quarter. Morgan Stanley now owns 4,254,906 shares of the company’s stock valued at $99,863,000 after purchasing an additional 3,353,556 shares in the last quarter. Norges Bank purchased a new stake in shares of Essential Properties Realty Trust in the fourth quarter valued at approximately $48,312,000. Vanguard Group Inc. grew its holdings in Essential Properties Realty Trust by 8.6% during the third quarter. Vanguard Group Inc. now owns 23,275,419 shares of the company’s stock worth $452,707,000 after acquiring an additional 1,845,507 shares during the period. Invesco Ltd. raised its position in Essential Properties Realty Trust by 36.6% in the third quarter. Invesco Ltd. now owns 6,015,270 shares of the company’s stock worth $130,110,000 after acquiring an additional 1,611,484 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Essential Properties Realty Trust by 18.4% in the fourth quarter. Wellington Management Group LLP now owns 9,931,196 shares of the company’s stock valued at $253,841,000 after acquiring an additional 1,543,346 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.