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

Essential Properties Realty Trust (NYSE:EPRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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 subject of a number of other reports. Credit Suisse Group initiated coverage on shares of Essential Properties Realty Trust in a research note on Monday, July 16th. They set an “outperform” rating and a $15.50 price objective for the company. Bank of America increased their price objective on shares of Essential Properties Realty Trust from $14.00 to $14.30 and gave the stock a “neutral” rating in a research note on Monday, September 10th. Goldman Sachs Group initiated coverage on shares of Essential Properties Realty Trust in a research note on Monday, July 16th. They set a “buy” rating for the company. Barclays initiated coverage on shares of Essential Properties Realty Trust in a research note on Monday, July 16th. They set an “equal weight” rating and a $15.00 price objective for the company. Finally, SunTrust Banks initiated coverage on shares of Essential Properties Realty Trust in a research note on Monday, July 16th. They set 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 assigned a buy rating to the stock. Essential Properties Realty Trust presently has a consensus rating of “Buy” and an average target price of $15.13.

Shares of Essential Properties Realty Trust stock traded up $0.06 during trading hours on Wednesday, reaching $14.13. 352,600 shares of the company’s stock were exchanged, compared to its average volume of 511,831. Essential Properties Realty Trust has a fifty-two week low of $13.05 and a fifty-two week high of $14.75. The company has a debt-to-equity ratio of 0.65, a quick ratio of 22.15 and a current ratio of 22.15.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The business had revenue of $25.74 million for the quarter, compared to analyst estimates of $25.60 million. Analysts forecast that Essential Properties Realty Trust will post 0.85 EPS for the current year.

In other news, Director Paul T. Bossidy bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average cost of $14.02 per share, for a total transaction of $70,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott A. Estes bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was purchased at an average price of $14.04 per share, with a total value of $140,400.00. The disclosure for this purchase can be found here. Insiders purchased a total of 53,000 shares of company stock valued at $749,380 over the last quarter.

A number of large investors have recently modified their holdings of EPRT. Penn Capital Management Co. Inc. purchased a new position in shares of Essential Properties Realty Trust in the 2nd quarter valued at about $951,000. Segantii Capital Management Ltd purchased a new position in shares of Essential Properties Realty Trust in the 2nd quarter valued at about $677,000. Dean Capital Investments Management LLC purchased a new position in shares of Essential Properties Realty Trust in the 2nd quarter valued at about $596,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Essential Properties Realty Trust in the 2nd quarter valued at about $1,153,000. Finally, Russell Investments Group Ltd. purchased a new stake in Essential Properties Realty Trust during the second quarter worth approximately $3,977,000. Institutional investors and hedge funds own 84.60% 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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