Essential Properties Realty Trust (EPRT) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The brokerage currently has $23.00 target price 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. SunTrust Banks upped their target price on shares of Essential Properties Realty Trust from $17.50 to $20.00 and gave the company a buy rating in a report on Monday, March 18th. Raymond James assumed coverage on shares of Essential Properties Realty Trust in a report on Monday, February 25th. They issued a market perform rating and a $16.70 target price on the stock. Stifel Nicolaus assumed coverage on shares of Essential Properties Realty Trust in a report on Monday, April 1st. They issued a buy rating and a $21.50 target price on the stock. Berenberg Bank assumed coverage on shares of Essential Properties Realty Trust in a report on Tuesday, April 23rd. They issued a buy rating on the stock. Finally, Boenning Scattergood set a $21.00 target price on shares of Essential Properties Realty Trust and gave the company a buy rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Essential Properties Realty Trust has a consensus rating of Buy and a consensus price target of $18.57.

NYSE:EPRT opened at $21.25 on Tuesday. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 0.49. Essential Properties Realty Trust has a 12-month low of $13.05 and a 12-month high of $21.68.

Essential Properties Realty Trust (NYSE:EPRT) last released its earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.14). The firm had revenue of $31.11 million during the quarter, compared to analysts’ expectations of $29.27 million. Essential Properties Realty Trust had a net margin of 19.25% and a return on equity of 2.40%. Research analysts predict that Essential Properties Realty Trust will post 1.16 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in EPRT. Bank of New York Mellon Corp purchased a new position in shares of Essential Properties Realty Trust during the 3rd quarter worth about $1,483,000. TIAA CREF Investment Management LLC purchased a new position in shares of Essential Properties Realty Trust during the 3rd quarter worth about $1,020,000. Vanguard Group Inc. lifted its holdings in shares of Essential Properties Realty Trust by 248.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,046,426 shares of the company’s stock worth $14,849,000 after acquiring an additional 746,426 shares during the period. Vanguard Group Inc lifted its holdings in shares of Essential Properties Realty Trust by 248.8% during the 3rd quarter. Vanguard Group Inc now owns 1,046,426 shares of the company’s stock worth $14,849,000 after acquiring an additional 746,426 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Essential Properties Realty Trust by 35.0% during the 3rd quarter. Legal & General Group Plc now owns 5,399 shares of the company’s stock worth $77,000 after acquiring an additional 1,399 shares during the period. Institutional investors and hedge funds own 63.96% of the company’s stock.

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.

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