Essential Properties Realty Trust Inc [NYSE: EPRT] gained 1.07% on the last trading session, reaching $25.50 price per share at the time. The company report on March 11, 2024 at 11:51 PM that Essential Properties Realty Trust, Inc. Announces Pricing of Upsized Public Offering of Common Stock.
Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today the pricing of an underwritten public offering of 9,000,000 shares of its common stock, all of which are being offered in connection with the forward sale agreements described below, at a public offering price of $24.75 per share. The offering was upsized from the previously announced offering size of 8,000,000 shares of common stock, and the offering is expected to close on March 14, 2024, subject to customary closing conditions.
BofA Securities, Wells Fargo Securities, Truist Securities and Mizuho are acting as the joint book-running managers for the offering. BMO Capital Markets, TD Securities, Barclays, Capital One Securities, Citigroup and Goldman Sachs & Co. LLC are acting as the book-running managers of the offering. Stifel, Raymond James, Wolfe Capital Markets and Advisory, Scotiabank, BNP PARIBAS and Huntington Capital Markets are acting as co-managers of the offering.
If compared to the average trading volume of 1.31M shares, EPRT reached a trading volume of 4774741 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Essential Properties Realty Trust Inc [EPRT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EPRT shares is $27.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EPRT stock is a recommendation set at 1.42. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BMO Capital Markets have made an estimate for Essential Properties Realty Trust Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 13, 2024. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on November 30, 2023, representing the official price target for Essential Properties Realty Trust Inc stock. Previously, the target price had yet another raise to $27, while Wells Fargo analysts kept a Overweight rating on EPRT stock.
The Average True Range (ATR) for Essential Properties Realty Trust Inc is set at 0.46, with the Price to Sales ratio for EPRT stock in the period of the last 12 months amounting to 11.77. The Price to Book ratio for the last quarter was 1.41, with the Price to Cash per share for the same quarter was set at 0.29.
Trading performance analysis for EPRT stock
Essential Properties Realty Trust Inc [EPRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.83. With this latest performance, EPRT shares gained by 3.70% in over the last four-week period, additionally plugging by 6.96% over the last 6 months – not to mention a rise of 6.07% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EPRT stock in for the last two-week period is set at 65.11, with the RSI for the last a single of trading hit 74.64, and the three-weeks RSI is set at 59.94 for Essential Properties Realty Trust Inc [EPRT]. The present Moving Average for the last 50 days of trading for this stock 24.91, while it was recorded at 25.05 for the last single week of trading, and 23.92 for the last 200 days.
Essential Properties Realty Trust Inc [EPRT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Essential Properties Realty Trust Inc posted 0.29/share EPS, while the average EPS was predicted by analysts to be reported at 0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 31.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EPRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Essential Properties Realty Trust Inc go to 26.82%.
An analysis of Institutional ownership at Essential Properties Realty Trust Inc [EPRT]
The top three institutional holders of EPRT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in EPRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in EPRT stock with ownership which is approximately 5.8325%.
