Essential Properties Realty Trust (NYSE:EPRT) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Essential Properties Realty Trust (NYSE:EPRT) from a hold rating to a sell rating in a research report report published on Monday morning, Zacks.com reports.

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. “

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada restated a sell rating and issued a $15.00 price objective on shares of Essential Properties Realty Trust in a research note on Sunday, May 10th. Evercore ISI upgraded Essential Properties Realty Trust from an in-line rating to an outperform rating and set a $20.00 price target on the stock in a research report on Monday, June 8th. Finally, Citigroup upped their price target on Essential Properties Realty Trust from $10.00 to $15.00 and gave the company a neutral rating in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $21.10.

Shares of Essential Properties Realty Trust stock opened at $17.01 on Monday. Essential Properties Realty Trust has a 52-week low of $6.08 and a 52-week high of $29.34. The stock’s 50-day simple moving average is $15.94 and its 200 day simple moving average is $16.80. The stock has a market capitalization of $1.60 billion, a P/E ratio of 27.44, a P/E/G ratio of 4.42 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 10.72 and a current ratio of 10.72.

Essential Properties Realty Trust (NYSE:EPRT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.13). Essential Properties Realty Trust had a net margin of 33.51% and a return on equity of 4.15%. Equities research analysts forecast that Essential Properties Realty Trust will post 1.09 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Essential Properties Realty Trust by 5.9% during the first quarter. BlackRock Inc. now owns 14,018,454 shares of the company’s stock valued at $183,083,000 after acquiring an additional 783,232 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Essential Properties Realty Trust by 63.8% in the first quarter. Principal Financial Group Inc. now owns 10,829,003 shares of the company’s stock worth $141,427,000 after acquiring an additional 4,217,034 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Essential Properties Realty Trust by 3.9% during the second quarter. Vanguard Group Inc. now owns 10,548,206 shares of the company’s stock valued at $156,535,000 after buying an additional 397,355 shares during the last quarter. Invesco Ltd. boosted its position in shares of Essential Properties Realty Trust by 113.0% during the first quarter. Invesco Ltd. now owns 8,148,952 shares of the company’s stock valued at $106,426,000 after buying an additional 4,322,416 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Essential Properties Realty Trust by 77.2% during the first quarter. Wellington Management Group LLP now owns 4,513,715 shares of the company’s stock valued at $58,949,000 after buying an additional 1,966,305 shares during the last quarter. Hedge funds and other institutional investors own 96.29% 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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