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

Zacks Investment Research upgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $24.00 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. “

Other analysts also recently issued research reports about the stock. Berenberg Bank started coverage on shares of Essential Properties Realty Trust in a research report on Tuesday, April 23rd. They set a buy rating for the company. Bank of America raised their price objective on shares of Essential Properties Realty Trust from $14.00 to $16.50 and gave the stock an underperform rating in a research report on Tuesday, March 5th. SunTrust Banks raised their price objective on shares of Essential Properties Realty Trust from $17.50 to $20.00 and gave the stock a buy rating in a research report on Monday, March 18th. Boenning Scattergood reaffirmed a buy rating on shares of Essential Properties Realty Trust in a research report on Friday, March 1st. Finally, Credit Suisse Group raised their price objective on shares of Essential Properties Realty Trust from $18.00 to $19.00 and gave the stock an outperform rating in a research report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $19.32.

Shares of NYSE EPRT opened at $20.90 on Tuesday. Essential Properties Realty Trust has a 1 year low of $13.05 and a 1 year high of $21.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 12.94 and a quick ratio of 12.94.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.14). The business had revenue of $31.11 million during the quarter, compared to the consensus estimate of $29.27 million. Essential Properties Realty Trust had a net margin of 19.25% and a return on equity of 2.40%. On average, equities research analysts predict that Essential Properties Realty Trust will post 1.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.22 per share. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.88 annualized dividend and a dividend yield of 4.21%.

Several hedge funds have recently made changes to their positions in EPRT. FMR LLC bought a new stake in shares of Essential Properties Realty Trust during the 1st quarter worth $15,261,000. Nordea Investment Management AB purchased a new stake in Essential Properties Realty Trust in the 1st quarter worth about $2,058,000. Marshall Wace North America L.P. purchased a new stake in Essential Properties Realty Trust in the 1st quarter worth about $751,000. Long Pond Capital LP purchased a new stake in Essential Properties Realty Trust in the 1st quarter worth about $9,008,000. Finally, Lazard Asset Management LLC increased its holdings in Essential Properties Realty Trust by 574.3% in the 1st quarter. Lazard Asset Management LLC now owns 760,809 shares of the company’s stock worth $14,850,000 after acquiring an additional 647,981 shares during the last quarter. 76.03% of the stock is owned by institutional investors.

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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.

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Analyst Recommendations for Essential Properties Realty Trust (NYSE:EPRT)

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