Essential Properties Realty Trust (EPRT) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from a sell rating to a hold rating in a report published on Wednesday morning.

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 topic of several other research reports. Credit Suisse Group started coverage on Essential Properties Realty Trust in a research note on Monday, July 16th. They set an outperform rating and a $15.50 price target on the stock. Bank of America boosted their price target on Essential Properties Realty Trust from $14.00 to $14.30 and gave the company a neutral rating in a research note on Monday, September 10th. Goldman Sachs Group started coverage on Essential Properties Realty Trust in a report on Monday, July 16th. They issued a buy rating for the company. Barclays started coverage on Essential Properties Realty Trust in a report on Monday, July 16th. They issued an equal weight rating and a $15.00 price objective for the company. Finally, SunTrust Banks started coverage on Essential Properties Realty Trust in a report on Monday, July 16th. They issued a buy rating and a $16.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Essential Properties Realty Trust currently has a consensus rating of Buy and a consensus price target of $15.13.

Essential Properties Realty Trust stock traded down $0.06 during trading hours on Wednesday, hitting $14.07. 2,606 shares of the stock traded hands, compared to its average volume of 540,568. The company has a current ratio of 12.86, a quick ratio of 22.15 and a debt-to-equity ratio of 0.62. Essential Properties Realty Trust has a 1 year low of $13.05 and a 1 year high of $14.75.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $25.74 million for the quarter, compared to analysts’ expectations of $25.60 million. As a group, analysts expect that Essential Properties Realty Trust will post 0.85 earnings per share for the current fiscal year.

The business also recently disclosed a special dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were issued a $0.224 dividend. The ex-dividend date was Thursday, September 27th.

In other Essential Properties Realty Trust news, Director Scott A. Estes purchased 10,000 shares of Essential Properties Realty Trust stock in a transaction that occurred on Friday, August 10th. The stock was bought at an average price of $14.04 per share, with a total value of $140,400.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gregg A. Seibert purchased 8,000 shares of Essential Properties Realty Trust stock in a transaction that occurred on Wednesday, August 22nd. The stock was acquired at an average cost of $14.31 per share, with a total value of $114,480.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 53,000 shares of company stock valued at $749,380.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Obermeyer Wood Investment Counsel Lllp acquired a new position in Essential Properties Realty Trust in the 2nd quarter worth about $271,000. Centersquare Investment Management LLC acquired a new position in Essential Properties Realty Trust in the 2nd quarter worth about $315,000. American Century Companies Inc. acquired a new position in Essential Properties Realty Trust in the 2nd quarter worth about $423,000. Rhumbline Advisers acquired a new position in Essential Properties Realty Trust in the 3rd quarter worth about $484,000. Finally, Wells Fargo & Company MN acquired a new position in Essential Properties Realty Trust in the 3rd quarter worth about $486,000. 84.60% of the stock is owned by institutional investors.

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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