Essential Properties Realty Trust (NYSE:EPRT) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Essential Properties Realty Trust (NYSE:EPRT) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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 subject of a number of other research reports. Truist increased their price objective on Essential Properties Realty Trust from $28.00 to $32.00 and gave the company a buy rating in a research report on Monday, August 16th. They noted that the move was a valuation call. Truist Securities increased their price target on Essential Properties Realty Trust from $28.00 to $32.00 and gave the company a buy rating in a research report on Monday, August 16th. Raymond James boosted their price objective on Essential Properties Realty Trust from $25.00 to $31.00 and gave the stock an outperform rating in a report on Thursday, June 17th. Wolfe Research assumed coverage on shares of Essential Properties Realty Trust in a research report on Monday, June 14th. They issued an outperform rating and a $36.00 target price on the stock. Finally, Credit Suisse Group upped their price target on shares of Essential Properties Realty Trust from $30.00 to $33.00 and gave the company an outperform rating in a research report on Thursday, August 12th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $30.06.

Shares of NYSE:EPRT opened at $28.96 on Tuesday. The company has a current ratio of 8.37, a quick ratio of 8.37 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $30.32 and its two-hundred day moving average is $27.26. The firm has a market capitalization of $3.42 billion, a P/E ratio of 55.69, a PEG ratio of 2.13 and a beta of 1.35. Essential Properties Realty Trust has a 52 week low of $16.18 and a 52 week high of $32.92.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings results on Wednesday, July 28th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Essential Properties Realty Trust had a return on equity of 3.40% and a net margin of 29.80%. Analysts predict that Essential Properties Realty Trust will post 1.32 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Thursday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 3.45%. Essential Properties Realty Trust’s dividend payout ratio is currently 90.09%.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its stake in shares of Essential Properties Realty Trust by 195.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 1,005 shares of the company’s stock worth $27,000 after acquiring an additional 665 shares in the last quarter. FORA Capital LLC bought a new position in Essential Properties Realty Trust in the 1st quarter worth $46,000. Lazard Asset Management LLC acquired a new stake in shares of Essential Properties Realty Trust in the second quarter valued at about $50,000. Advisory Services Network LLC bought a new position in shares of Essential Properties Realty Trust in the second quarter worth about $54,000. Finally, Quantbot Technologies LP acquired a new position in shares of Essential Properties Realty Trust during the 1st quarter worth about $100,000.

About Essential Properties Realty Trust

Essential Properties Realty Trust, Inc engages in the acquisition, ownership, and management of single-tenant properties that are net leased on a long-term basis to middle-market companies, which operates service-oriented or experience-based businesses. Its portfolio includes the following: Captain D’s, Art Van Furniture, Mister Car Wash, Zips Car Wash, AMC Theaters, Perkins, 84 Lumber, Mirabito, Ruby Tuesday and White Oak Station.

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