Fintel reports that on June 28, 2024, Goldman Sachs initiated coverage of Essential Properties Realty Trust (NYSE:EPRT) with a Buy recommendation.
Analyst Price Forecast Suggests 7.01% Upside
As of June 12, 2024, the average one-year price target for Essential Properties Realty Trust is 29.65. The forecasts range from a low of 27.27 to a high of $32.55. The average price target represents an increase of 7.01% from its latest reported closing price of 27.71.
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The projected annual revenue for Essential Properties Realty Trust is 388MM, an increase of 2.30%. The projected annual non-GAAP EPS is 0.99.
What is the Fund Sentiment?
There are 669 funds or institutions reporting positions in Essential Properties Realty Trust. This is an increase of 9 owner(s) or 1.36% in the last quarter. Average portfolio weight of all funds dedicated to EPRT is 0.30%, an increase of 181.39%. Total shares owned by institutions increased in the last three months by 6.79% to 205,908K shares. 
The put/call ratio of EPRT is 1.64, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 10,551K shares representing 6.02% ownership of the company. In its prior filing, the firm reported owning 10,435K shares , representing an increase of 1.10%. The firm increased its portfolio allocation in EPRT by 1.01% over the last quarter.
Wellington Management Group Llp holds 10,249K shares representing 5.85% ownership of the company. In its prior filing, the firm reported owning 9,931K shares , representing an increase of 3.10%. The firm decreased its portfolio allocation in EPRT by 85.46% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 6,371K shares representing 3.63% ownership of the company. In its prior filing, the firm reported owning 6,304K shares , representing an increase of 1.06%. The firm increased its portfolio allocation in EPRT by 11.17% over the last quarter.
Deutsche Bank Ag\ holds 6,354K shares representing 3.62% ownership of the company. In its prior filing, the firm reported owning 6,342K shares , representing an increase of 0.19%. The firm decreased its portfolio allocation in EPRT by 80.14% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,317K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 4,897K shares , representing an increase of 7.89%. The firm increased its portfolio allocation in EPRT by 3.23% over the last quarter.
Essential Properties Realty Trust Background Information
(This description is provided by the company.)
Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single- tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of December 31, 2020, the Company's portfolio consisted of 1,181 freestanding net lease properties with a weighted average lease term of 14.5 years and a weighted average rent coverage ratio of 2.9x. As of the same date, the Company's portfolio was 99.7% leased to 238 tenants operating 336 different concepts in 17 industries across 43 states.
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