Essential Properties Realty Trust (NYSE:EPRT) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from a buy rating to a hold rating in a report released on Monday morning, 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. “

Several other research analysts have also recently commented on EPRT. Bank of America raised Essential Properties Realty Trust from an underperform rating to a buy rating and boosted their target price for the stock from $20.00 to $23.00 in a research note on Tuesday, June 11th. Boenning Scattergood set a $21.00 target price on Essential Properties Realty Trust and gave the stock a buy rating in a research note on Friday, May 10th. Berenberg Bank began coverage on Essential Properties Realty Trust in a research note on Tuesday, April 23rd. They set a buy rating for the company. Barclays reissued a hold rating and set a $18.00 target price on shares of Essential Properties Realty Trust in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus began coverage on Essential Properties Realty Trust in a research note on Monday, April 1st. They set a buy rating and a $21.50 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $19.22.

Shares of NYSE EPRT opened at $19.69 on Monday. Essential Properties Realty Trust has a twelve month low of $13.05 and a twelve month high of $21.83. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $20.96.

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

The firm 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 a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, June 27th.

Large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in shares of Essential Properties Realty Trust during the 1st quarter worth about $37,000. Nisa Investment Advisors LLC purchased a new stake in shares of Essential Properties Realty Trust in the 1st quarter valued at about $40,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of Essential Properties Realty Trust in the 4th quarter valued at about $82,000. PNC Financial Services Group Inc. lifted its holdings in shares of Essential Properties Realty Trust by 49,292.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,421 shares of the company’s stock valued at $89,000 after purchasing an additional 6,408 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Essential Properties Realty Trust by 29.2% in the 4th quarter. Legal & General Group Plc now owns 6,976 shares of the company’s stock valued at $97,000 after purchasing an additional 1,577 shares during the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.

About Essential Properties Realty Trust

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.

Featured Story: Cash Flow

Get a free copy of the Zacks research report on Essential Properties Realty Trust (EPRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Essential Properties Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essential Properties Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.