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

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) reached a new 52-week high 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 trading hands. The stock had previously closed at $33.94.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Essential Properties Realty Trust by 8.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,284,712 shares of the company’s stock worth $104,815,000 after purchasing an additional 267,226 shares during the period. AlphaQuest LLC purchased a new stake in Essential Properties Realty Trust in the 3rd quarter worth about $1,242,000. Exchange Traded Concepts LLC lifted its stake in Essential Properties Realty Trust by 139.6% in the third quarter. Exchange Traded Concepts LLC now owns 118,698 shares of the company’s stock worth $3,532,000 after purchasing an additional 69,157 shares during the last quarter. Allworth Financial LP grew its stake in shares of Essential Properties Realty Trust by 2,890.8% during the second quarter. Allworth Financial LP now owns 22,192 shares of the company’s stock valued at $708,000 after buying an additional 21,450 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Essential Properties Realty Trust by 5.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,378,414 shares of the company’s stock valued at $70,782,000 after buying an additional 115,567 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 company has a debt-to-equity ratio of 0.60, a current ratio of 6.37 and a quick ratio of 6.37. The firm has a fifty day moving average price of $31.10 and a two-hundred day moving average price of $30.72. The stock has a market capitalization of $7.25 billion, a PE ratio of 26.98, a P/E/G ratio of 2.54 and a beta of 0.95.

Essential Properties Realty Trust Increases Dividend

The firm 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. This represents a $1.24 annualized dividend and a dividend yield of 3.6%. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, December 31st. Essential Properties Realty Trust’s dividend payout ratio is 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.