In a report released today, Merrill Ross from Boenning & Scattergood maintained a Buy rating on Essential Properties Realty Trust Inc (EPRT), with a price target of $21. The company’s shares opened today at $20.42, close to its 52-week high of $20.95.
Ross said:
“We focus on the calculation of NAV to set our price targets and we believe that NAV will expand from $16.45 at year-end 2018 to $19.90 at year-end 2019, as the company pursues acquisitions of about $400 million, by our estimation. Since we believe that the resulting portfolio will generate stable net operating income that will support dividends and could result in an improved valuation, we maintain an Outperform rating on the shares and raise our target to $24.00, a 20% premium to forward NAV (slightly below the 24% premium to trailing NAV).”
According to TipRanks.com, Ross is a 2-star analyst with an average return of 0.7% and a 54.4% success rate. Ross covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate Investment, Monmouth Real Estate Investment, and Preferred Apartment Communities.
Currently, the analyst consensus on Essential Properties Realty Trust Inc is a Moderate Buy with an average price target of $19.93.
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Essential Properties Realty Trust Inc’s market cap is currently $890.3M and has a P/E ratio of 70.17. The company has a Price to Book ratio of 1.58.
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Essential Properties Realty Trust, Inc. engages in the acquisition, ownership, and management of single-tenant properties that are net leased on a long-term basis to middle-market companies which operates service-oriented or experience-based businesses.
