Essential Properties Realty Trust (NYSE:EPRT) Raised to Strong-Buy at Raymond James Financial

Essential Properties Realty Trust (NYSE:EPRT) was upgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $37.00 price target on the stock. Raymond James Financial’s price objective suggests a potential upside of 12.14% from the company’s current price.

A number of other research firms have also issued reports on EPRT. UBS Group lifted their price objective on shares of Essential Properties Realty Trust from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a research note on Friday, February 13th. Scotiabank raised their price target on shares of Essential Properties Realty Trust from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Evercore reaffirmed an “outperform” rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Finally, Mizuho boosted their price objective on shares of Essential Properties Realty Trust from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Essential Properties Realty Trust currently has an average rating of “Buy” and an average price target of $36.60.

Essential Properties Realty Trust Stock Performance

Essential Properties Realty Trust stock opened at $33.00 on Tuesday. The stock’s 50 day moving average price is $31.80 and its 200 day moving average price is $30.88. The firm has a market capitalization of $6.92 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 2.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.37 and a current ratio of 6.37. Essential Properties Realty Trust has a one year low of $27.44 and a one year high of $34.73.

Institutional Trading of Essential Properties Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Essential Properties Realty Trust by 8.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,284,712 shares of the company’s stock valued at $104,815,000 after purchasing an additional 267,226 shares in the last quarter. AlphaQuest LLC acquired a new position in Essential Properties Realty Trust in the third quarter worth about $1,242,000. Exchange Traded Concepts LLC grew 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Essential Properties Realty Trust by 5.1% in 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. Finally, Elo Mutual Pension Insurance Co increased its holdings in Essential Properties Realty Trust by 104.9% in the third quarter. Elo Mutual Pension Insurance Co now owns 60,838 shares of the company’s stock valued at $1,811,000 after buying an additional 31,143 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

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.