Mizuho analyst Haendel St. Juste lowered the firm’s price target on Essential Properties Realty Trust to $61 from $67 and keeps a Buy rating on the shares. The firm remains constructive on triple nets real estate investment trusts and believes the stocks can work into fiscal 2024 given improving WACC tailwinds, capital rotation into long duration, and potential earnings upside if rates do not come back to the 5% we saw earlier this fall.
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