Evercore ISI downgraded Essential Properties Realty Trust to In Line from Outperform with a price target of $32, up from $30. Shares have added an additional 10% since the firm’s early July net lease sector Q2 earnings preview and closed above the firm’s prior $30 target on July 16, notes the analyst, who notes that the projected total return has now slipped below 10%, which warrants a move to an In Line rating.
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