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Investing.com - Evercore ISI upgraded Essential Properties Realty Trust (NYSE:EPRT) from In Line to Outperform on Monday, while raising its price target to $36.00 from $34.00. The $5.9 billion market cap REIT currently trades at $29.84, with InvestingPro analysis indicating the stock is slightly undervalued.
The research firm cited the company’s strong balance sheet and above-average funds from operations (FFO) growth as key factors supporting the upgrade decision. This assessment aligns with the company’s impressive 25.14% revenue growth and healthy current ratio of 2.47, demonstrating strong liquidity.
Evercore ISI noted that Essential Properties Realty Trust stock has declined 3% year-to-date and has underperformed the broader REIT index by 800 basis points.
The new price target represents a potential 25% return based on Evercore’s estimates and reflects a roll forward to 2027 projections.
Essential Properties Realty Trust operates as a real estate investment trust that acquires, owns, and manages single-tenant properties leased to service-oriented and experience-based businesses.
In other recent news, Essential Properties Realty Trust reported its second-quarter earnings for 2025, surpassing market expectations. The company achieved earnings per share of $0.32, slightly above the forecast of $0.31, and reported revenue of $137.06 million, exceeding the anticipated $128.23 million. Additionally, Essential Properties Realty Trust announced a quarterly cash dividend of $0.30 per share for the third quarter of 2025, payable on October 14 to stockholders of record as of September 30. In a significant financial move, the company closed a public offering of $400 million in senior notes due 2035, with the notes priced at 98.317% of par value and yielding 5.62% to maturity. This marks the company’s first unsecured bond offering since June 2021. The notes, issued by Essential Properties, L.P., are fully guaranteed by Essential Properties Realty Trust, Inc. Stifel has reiterated its Buy rating on the stock, maintaining a price target of $36.00.
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