Essential Properties Realty Trust (EPRT) PT Raised to $36.25 at Stifel

Stifel analyst Simon Yarmak raised the price target on Essential Properties Realty Trust (NYSE: EPRT) to $36.25 (from $32.00) while maintaining a Buy rating.

The analyst commented: "A recurring theme we saw in our meetings was that management feels great about the state of their business, portfolio, and balance sheet and is firing on all cylinders. The name has been a strong outperformer YTD (EPRT +35.9% vs. Triple-Net Sector +15.5% vs. the RMS +16.5% through 9/24). We are projecting sector-leading growth for 2024/2025/2026. The company now has $1.1 billion of liquidity available to them via cash on hand, its revolver, and forward equity settlement. Lastly, the portfolio is holding up quite well despite the economic environment."

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