Essential Properties Realty Trust (NYSE:EPRT) Stock Gets Price Target Trim from Citigroup

Essential Properties Realty Trust (NYSE:EPRT) had its target price lowered by Citigroup from $36.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

EPRT has been the topic of several other research reports. Scotiabank reduced their price objective on shares of Essential Properties Realty Trust from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. Wells Fargo & Company reduced their price target on shares of Essential Properties Realty Trust from $36.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Mizuho decreased their price target on shares of Essential Properties Realty Trust from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Truist Financial started coverage on shares of Essential Properties Realty Trust in a research note on Thursday, October 1st. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Barclays dropped their price objective on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Essential Properties Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $32.96.

Essential Properties Realty Trust Stock Down 1.3%

Shares of EPRT opened at $26.50 on Monday. The business’s 50 day moving average is $27.59 and its 200 day moving average is $30.48. The company has a market capitalization of $5.84 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.51 and a beta of 0.82. Essential Properties Realty Trust has a 12-month low of $24.62 and a 12-month high of $34.73. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.65.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Essential Properties Realty Trust had a return on equity of 5.95% and a net margin of 41.03%. The business had revenue of $168.67 million during the quarter, compared to analysts’ expectations of $158.17 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts expect that Essential Properties Realty Trust will post 1.96 earnings per share for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 104.07%.

Institutional Trading of Essential Properties Realty Trust

Large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Essential Properties Realty Trust in the 2nd quarter valued at about $1,183,153,000. Dimensional Fund Advisors LP grew its position in Essential Properties Realty Trust by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,101,020 shares of the company’s stock worth $94,151,000 after acquiring an additional 184,196 shares in the last quarter. Principal Financial Group Inc. grew its position in Essential Properties Realty Trust by 3.9% in the first quarter. Principal Financial Group Inc. now owns 2,771,898 shares of the company’s stock worth $84,156,000 after acquiring an additional 103,311 shares in the last quarter. Bank of America Corp DE bought a new stake in Essential Properties Realty Trust during the second quarter worth approximately $52,056,000. Finally, Bank of New York Mellon Corp purchased a new stake in Essential Properties Realty Trust during the second quarter valued at approximately $51,164,000. 96.98% of the stock is currently owned by institutional investors.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc (NYSE:EPRT) is an internally managed real estate investment trust that acquires, owns and manages single-tenant commercial properties. The company primarily leases these properties to middle-market businesses under long-term, net lease agreements, which generally require tenants to pay a substantial portion of the property’s operating expenses, including taxes, insurance and maintenance.

EPRT’s portfolio is diversified across businesses such as automotive services, medical services, restaurants, retail, early childhood education and other service-oriented industries.