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

Zacks Investment Research downgraded shares of Essential Properties Realty Trust (NYSE:EPRT) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

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. “

Separately, Bank of America raised their price target on shares of Essential Properties Realty Trust from $14.00 to $14.30 and gave the stock a neutral rating in a report on Monday, September 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $15.26.

Shares of NYSE:EPRT opened at $14.61 on Tuesday. Essential Properties Realty Trust has a 52 week low of $13.05 and a 52 week high of $14.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 12.86 and a quick ratio of 12.86.

Essential Properties Realty Trust (NYSE:EPRT) last issued its earnings results on Monday, November 5th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $25.74 million during the quarter, compared to analysts’ expectations of $25.60 million. On average, equities research analysts anticipate that Essential Properties Realty Trust will post 0.88 earnings per share for the current year.

In other news, VP Daniel P. Donlan purchased 2,100 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were acquired at an average price of $13.76 per share, with a total value of $28,896.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul T. Bossidy purchased 4,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was purchased at an average cost of $14.22 per share, for a total transaction of $56,880.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 22,100 shares of company stock worth $313,396.

Institutional investors and hedge funds have recently made changes to their positions in the company. Long Pond Capital LP bought a new stake in shares of Essential Properties Realty Trust during the 2nd quarter valued at about $40,620,000. Centersquare Investment Management LLC bought a new stake in shares of Essential Properties Realty Trust during the 2nd quarter valued at about $315,000. BlackRock Inc. bought a new stake in shares of Essential Properties Realty Trust during the 2nd quarter valued at about $8,797,000. Point72 Asset Management L.P. bought a new stake in shares of Essential Properties Realty Trust during the 2nd quarter valued at about $3,385,000. Finally, Citadel Advisors LLC bought a new stake in shares of Essential Properties Realty Trust during the 2nd quarter valued at about $47,771,000. 78.81% of the stock is currently owned by hedge funds and other 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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