Wells Fargo & Company Has Lowered Expectations for Essential Properties Realty Trust (NYSE:EPRT) Stock Price

Essential Properties Realty Trust (NYSE:EPRT - Free Report) had its price objective reduced by Wells Fargo & Company from $37.00 to $34.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Scotiabank increased their price objective on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a "sector perform" rating in a report on Friday, October 11th. Evercore ISI boosted their price objective on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. UBS Group raised their target price on Essential Properties Realty Trust from $36.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Raymond James boosted their price target on Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 21st. Finally, Truist Financial raised their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.83.

Essential Properties Realty Trust Stock Performance

EPRT traded up $0.07 on Monday, hitting $31.71. 1,335,618 shares of the company's stock were exchanged, compared to its average volume of 1,339,889. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average of $32.88 and a two-hundred day moving average of $29.79. Essential Properties Realty Trust has a twelve month low of $22.32 and a twelve month high of $34.51. The firm has a market cap of $5.56 billion, a PE ratio of 27.57, a P/E/G ratio of 2.69 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). The company had revenue of $117.13 million during the quarter, compared to the consensus estimate of $109.73 million. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 46.00%. The company's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. On average, research analysts anticipate that Essential Properties Realty Trust will post 1.68 earnings per share for the current fiscal year.

Essential Properties Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, September 30th. Essential Properties Realty Trust's dividend payout ratio is currently 100.87%.

Insider Buying and Selling

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the sale, the chief executive officer now owns 446,076 shares of the company's stock, valued at $14,421,637.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EPRT. Vanguard Group Inc. grew its position in Essential Properties Realty Trust by 4.4% during the first quarter. Vanguard Group Inc. now owns 25,377,389 shares of the company's stock worth $676,561,000 after buying an additional 1,060,079 shares in the last quarter. Nordea Investment Management AB boosted its position in Essential Properties Realty Trust by 51.0% in the first quarter. Nordea Investment Management AB now owns 281,275 shares of the company's stock valued at $7,530,000 after buying an additional 94,970 shares in the last quarter. SG Americas Securities LLC grew its stake in Essential Properties Realty Trust by 298.0% during the first quarter. SG Americas Securities LLC now owns 64,417 shares of the company's stock worth $1,717,000 after buying an additional 48,231 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Essential Properties Realty Trust during the first quarter worth approximately $1,002,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Essential Properties Realty Trust by 29.2% in the second quarter. Thrivent Financial for Lutherans now owns 1,646,742 shares of the company's stock valued at $45,631,000 after acquiring an additional 372,040 shares during the last quarter. Institutional investors own 96.98% of the company's stock.

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.