Wells Fargo & Company Increases Essential Properties Realty Trust (NYSE:EPRT) Price Target to $34.00

Essential Properties Realty Trust (NYSE:EPRT) had its target price upped by Wells Fargo & Company from $31.00 to $34.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently issued reports on EPRT. Wedbush began coverage on shares of Essential Properties Realty Trust in a report on Monday, August 19th. They set an outperform rating and a $34.00 price objective on the stock. Scotiabank raised their price target on shares of Essential Properties Realty Trust from $28.00 to $30.00 and gave the stock a sector perform rating in a report on Wednesday, August 7th. Mizuho lifted their price objective on shares of Essential Properties Realty Trust from $26.00 to $29.00 and gave the stock a buy rating in a research note on Friday, May 10th. Raymond James upped their target price on Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an outperform rating in a research report on Wednesday, August 21st. Finally, Evercore ISI cut Essential Properties Realty Trust from an outperform rating to an in-line rating and lifted their price target for the stock from $30.00 to $32.00 in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $31.73.

Essential Properties Realty Trust Price Performance

NYSE EPRT opened at $31.54 on Monday. The firm’s fifty day simple moving average is $29.48 and its two-hundred day simple moving average is $27.22. The firm has a market capitalization of $5.53 billion, a P/E ratio of 25.64, a P/E/G ratio of 2.26 and a beta of 1.35. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59. Essential Properties Realty Trust has a 12-month low of $20.49 and a 12-month high of $32.02.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13). Essential Properties Realty Trust had a return on equity of 6.28% and a net margin of 48.12%. The business had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.99 million. During the same period in the previous year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. Analysts forecast that Essential Properties Realty Trust will post 1.69 EPS for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.29 dividend. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a yield of 3.68%. Essential Properties Realty Trust’s dividend payout ratio is presently 94.31%.

Insiders Place Their Bets

In related news, CEO Peter M. Mavoides sold 20,863 shares of Essential Properties Realty Trust stock in a transaction on Monday, July 1st. The shares were sold at an average price of $27.54, for a total value of $574,567.02. Following the sale, the chief executive officer now owns 514,464 shares of the company’s stock, valued at approximately $14,168,338.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Peter M. Mavoides sold 20,863 shares of Essential Properties Realty Trust stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $27.54, for a total value of $574,567.02. Following the sale, the chief executive officer now directly owns 514,464 shares in the company, valued at approximately $14,168,338.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter M. Mavoides sold 12,712 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $28.03, for a total value of $356,317.36. Following the sale, the chief executive officer now owns 500,552 shares of the company’s stock, valued at $14,030,472.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,775 shares of company stock worth $964,484. 0.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Essential Properties Realty Trust during the 4th quarter valued at about $26,000. Asset Dedication LLC acquired a new position in shares of Essential Properties Realty Trust during the 2nd quarter worth approximately $27,000. Heritage Wealth Advisors grew its position in shares of Essential Properties Realty Trust by 71.4% in the fourth quarter. Heritage Wealth Advisors now owns 1,200 shares of the company’s stock valued at $31,000 after purchasing an additional 500 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Essential Properties Realty Trust in the fourth quarter valued at approximately $31,000. Finally, Quarry LP lifted its position in Essential Properties Realty Trust by 611.3% during the second quarter. Quarry LP now owns 1,195 shares of the company’s stock worth $33,000 after buying an additional 1,027 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Essential Properties Realty Trust Company Profile

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.