Essential Properties Realty Trust (NYSE:EPRT) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Essential Properties Realty Trust (NYSE:EPRT) in a report released on Friday morning, BenzingaRatingsTable reports. The brokerage issued a sector perform rating and a $21.00 target price on the stock.

A number of other equities analysts have also recently weighed in on EPRT. Boenning Scattergood set a $21.00 price target on shares of Essential Properties Realty Trust and gave the stock a buy rating in a research report on Friday, May 10th. SunTrust Banks reiterated a buy rating and issued a $30.00 price target on shares of Yext in a research note on Monday, March 18th. Credit Suisse Group set a GBX 190 ($2.48) price target on shares of Barclays and gave the company a neutral rating in a research note on Tuesday, March 19th. Zacks Investment Research lowered shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, ValuEngine upgraded shares of WPP from a sell rating to a hold rating in a research note on Wednesday, June 19th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $19.29.

Shares of EPRT stock opened at $19.55 on Friday. Essential Properties Realty Trust has a 52-week low of $13.05 and a 52-week high of $21.83. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $20.75.

Essential Properties Realty Trust (NYSE:EPRT) last announced 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%. As a group, equities analysts anticipate that Essential Properties Realty Trust will post 1.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 4.50%.

In related news, insider Peter M. Mavoides sold 43,891 shares of Essential Properties Realty Trust stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $19.82, for a total transaction of $869,919.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregg A. Seibert sold 24,352 shares of Essential Properties Realty Trust stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $19.82, for a total transaction of $482,656.64. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in EPRT. Penserra Capital Management LLC acquired a new position in shares of Essential Properties Realty Trust in the 1st quarter valued at approximately $37,000. Nisa Investment Advisors LLC bought a new stake in shares of Essential Properties Realty Trust in the 1st quarter valued at $40,000. PNC Financial Services Group Inc. boosted its stake 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. Legal & General Group Plc boosted its stake 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. Finally, RMR Advisors LLC bought a new stake in shares of Essential Properties Realty Trust in the 1st quarter valued at $98,000. 76.07% 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.

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

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