Essential Properties Realty Trust (NYSE:EPRT) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Essential Properties Realty Trust (NYSE:EPRT – Get Rating) from a hold rating to a buy rating in a report released on Monday morning, Zacks.com reports. They currently have $25.00 price objective on the stock.

According to Zacks, “Essential Properties Realty Trust, Inc. is a real estate company. It owns, acquires and manages single-tenant properties which are net leased on a long-term basis to service-oriented and experience-based businesses. The company serves restaurants, car washes, automotive services, medical services, convenience stores, entertainment, early childhood education, health and fitness sector. Essential Properties Realty Trust, Inc. is based in Princeton, New Jersey. “

EPRT has been the topic of several other research reports. Raymond James lowered their price objective on shares of Essential Properties Realty Trust from $34.00 to $30.00 and set an outperform rating on the stock in a research note on Friday, March 11th. LADENBURG THALM/SH SH increased their price objective on shares of Essential Properties Realty Trust from $27.00 to $28.50 in a research note on Tuesday, March 1st. Finally, Truist Financial lowered their price objective on shares of Essential Properties Realty Trust from $32.00 to $28.00 and set a na rating on the stock in a research note on Monday, May 16th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Essential Properties Realty Trust presently has a consensus rating of Buy and a consensus price target of $29.39.

Shares of Essential Properties Realty Trust stock opened at $22.50 on Monday. The company’s fifty day simple moving average is $24.37 and its two-hundred day simple moving average is $25.98. Essential Properties Realty Trust has a 12-month low of $21.31 and a 12-month high of $32.92. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.53. The company has a market cap of $2.95 billion, a P/E ratio of 25.57, a PEG ratio of 1.87 and a beta of 1.35.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 13th. Shareholders of record on Thursday, March 31st were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Wednesday, March 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 118.18%.

A number of institutional investors and hedge funds have recently made changes to their positions in EPRT. Balyasny Asset Management LLC purchased a new position in shares of Essential Properties Realty Trust in the third quarter valued at $6,995,000. Daiwa Securities Group Inc. grew its holdings in shares of Essential Properties Realty Trust by 12.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 35,822 shares of the company’s stock valued at $1,033,000 after purchasing an additional 4,034 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Essential Properties Realty Trust by 2.1% in the fourth quarter. Brown Advisory Inc. now owns 1,690,825 shares of the company’s stock valued at $48,746,000 after purchasing an additional 35,531 shares in the last quarter. AlphaCrest Capital Management LLC grew its holdings in shares of Essential Properties Realty Trust by 107.1% in the fourth quarter. AlphaCrest Capital Management LLC now owns 33,758 shares of the company’s stock valued at $973,000 after purchasing an additional 17,458 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Essential Properties Realty Trust by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 1,549,191 shares of the company’s stock valued at $43,253,000 after purchasing an additional 41,129 shares in the last quarter. 95.24% of the stock is owned by institutional investors and hedge funds.

Essential Properties Realty Trust Company Profile (Get Rating)

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.

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