Zacks Investment Research upgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $16.00 price target 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. “
EPRT has been the topic of a number of other reports. Boenning Scattergood began coverage on Essential Properties Realty Trust in a research note on Wednesday. They issued an outperform rating and a $17.00 price target on the stock. Bank of America downgraded Essential Properties Realty Trust from a neutral rating to an underperform rating in a research note on Thursday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $15.48.
Essential Properties Realty Trust (NYSE:EPRT) last announced its earnings results on Monday, November 5th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $25.74 million during the quarter, compared to analysts’ expectations of $25.60 million. Equities analysts predict that Essential Properties Realty Trust will post 0.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Monday, December 31st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, December 28th. This represents a $0.84 dividend on an annualized basis and a yield of 6.06%.
In other news, VP Daniel P. Donlan bought 2,100 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were bought at an average cost of $13.76 per share, for a total transaction of $28,896.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter M. Mavoides bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were purchased at an average price of $14.29 per share, for a total transaction of $142,900.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 22,100 shares of company stock worth $313,396.
Institutional investors and hedge funds have recently bought and sold shares of the business. Claybrook Capital LLC purchased a new stake in Essential Properties Realty Trust during the third quarter worth $142,000. Obermeyer Wood Investment Counsel Lllp acquired a new position in shares of Essential Properties Realty Trust in the second quarter worth $271,000. Centersquare Investment Management LLC acquired a new position in shares of Essential Properties Realty Trust in the second quarter worth $315,000. American International Group Inc. acquired a new position in shares of Essential Properties Realty Trust in the third quarter worth $335,000. Finally, American Century Companies Inc. acquired a new position in shares of Essential Properties Realty Trust in the second quarter worth $423,000. Institutional investors own 78.81% of the company’s stock.
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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