Essential Properties Realty Trust (EPRT) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from a buy rating to a hold rating in a research note released on Monday, 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 several other research reports. Boenning Scattergood reissued a buy rating on shares of Essential Properties Realty Trust in a report on Friday, March 1st. Bank of America boosted their price target on shares of Essential Properties Realty Trust from $14.00 to $16.50 and gave the stock an underperform rating in a report on Tuesday, March 5th. SunTrust Banks upped their target price on shares of Essential Properties Realty Trust from $17.50 to $20.00 and gave the stock a buy rating in a report on Monday, March 18th. Raymond James started coverage on shares of Essential Properties Realty Trust in a report on Monday, February 25th. They set a market perform rating and a $16.70 target price for the company. Finally, Credit Suisse Group upped their target price on shares of Essential Properties Realty Trust from $18.00 to $19.00 and gave the stock an outperform rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $18.17.

Shares of NYSE EPRT opened at $20.33 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 6.18 and a current ratio of 6.18. Essential Properties Realty Trust has a one year low of $13.05 and a one year high of $20.95.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.14). The company had revenue of $31.11 million for the quarter, compared to the consensus estimate of $29.27 million. On average, equities research analysts predict that Essential Properties Realty Trust will post 1.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Friday, March 29th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Thursday, March 28th.

Several institutional investors have recently added to or reduced their stakes in EPRT. Security Benefit Life Insurance Co. KS purchased a new stake in shares of Essential Properties Realty Trust during the fourth quarter worth $107,675,000. Brown Advisory Inc. purchased a new stake in shares of Essential Properties Realty Trust during the fourth quarter worth $30,751,000. BlackRock Inc. grew its holdings in shares of Essential Properties Realty Trust by 230.7% during the third quarter. BlackRock Inc. now owns 2,148,745 shares of the company’s stock worth $30,491,000 after buying an additional 1,499,036 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new stake in shares of Essential Properties Realty Trust during the fourth quarter worth $18,563,000. Finally, Hill Winds Capital LP purchased a new stake in shares of Essential Properties Realty Trust during the fourth quarter worth $10,794,000. 98.32% 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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.

Further Reading: Calculating net profit and net profit margin ratio

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

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