Boenning & Scattergood Initiates a Buy Rating on Essential Properties Realty Trust Inc (EPRT)


Essential Properties Realty Trust Inc (EPRT) received a Buy rating and a $17 price target from Boenning & Scattergood analyst Merrill Ross today. The company’s shares closed yesterday at $14.41.

Ross commented:

“We are initiating coverage of Trust (EPRT) with an Outperform rating and a $17 price target. EPRT acquires free-standing, single-tenant commercial real estate leased to middle-market companies that are primarily in service businesses. These properties are considered by the tenant to be essential to the generation of revenues. Middle-market companies (with revenues between $20 million and $500 million) do not have the same access to capital that larger companies enjoy, so EPRT can offer terms that are attractive relative to other capital providers and still generate good risk-adjusted returns for its shareholders.”

According to TipRanks.com, Ross is a 1-star analyst with an average return of -1.3% and a 50.9% success rate. Ross covers the Financial sector, focusing on stocks such as Preferred Apartment Communities, Easterly Government Properties, and NexPoint Residential Trust Inc.

Currently, the analyst consensus on Essential Properties Realty Trust Inc is a Hold with an average price target of $15.65.

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Based on Essential Properties Realty Trust Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $5.17 million. In comparison, last year the company had a net profit of $583K.

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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.

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