Barclays Lowers Essential Properties Realty Trust (NYSE:EPRT) Price Target to $35.00

Essential Properties Realty Trust (NYSE:EPRT) had its price objective trimmed by Barclays from $36.00 to $35.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Essential Properties Realty Trust in a research note on Wednesday, December 11th. They set a “buy” rating and a $38.00 target price for the company. Mizuho increased their price objective on shares of Essential Properties Realty Trust from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. UBS Group boosted their price objective on shares of Essential Properties Realty Trust from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company lowered their target price on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Scotiabank boosted their price target on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a “sector perform” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.85.

Essential Properties Realty Trust Stock Down 0.7 %

NYSE:EPRT opened at $31.59 on Tuesday. Essential Properties Realty Trust has a 1 year low of $23.58 and a 1 year high of $34.88. The stock has a 50-day moving average price of $32.00 and a two-hundred day moving average price of $32.08. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.94 and a beta of 1.40. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.69.

Essential Properties Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.295 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.74%. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 102.61%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its stake in Essential Properties Realty Trust by 6.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 95,819 shares of the company’s stock valued at $2,997,000 after purchasing an additional 5,566 shares during the last quarter. TCW Group Inc. acquired a new stake in shares of Essential Properties Realty Trust in the fourth quarter valued at approximately $872,000. Handelsbanken Fonder AB boosted its stake in shares of Essential Properties Realty Trust by 11.7% during the 4th quarter. Handelsbanken Fonder AB now owns 674,300 shares of the company’s stock worth $21,092,000 after acquiring an additional 70,800 shares during the period. Truist Financial Corp acquired a new position in shares of Essential Properties Realty Trust during the 4th quarter worth approximately $287,000. Finally, Principal Financial Group Inc. raised its stake in Essential Properties Realty Trust by 18.9% in the 4th quarter. Principal Financial Group Inc. now owns 2,948,952 shares of the company’s stock valued at $92,246,000 after acquiring an additional 469,610 shares during the period. 96.98% of the stock is currently 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 and dental services, convenience stores, equipment rental, entertainment, early childhood education, grocery, and health and fitness on a long-term basis.