Goldman Sachs initiated coverage of Essential Properties Realty Trust with a Buy rating and $33 price target. The analyst expects “outsized” earnings growth will be driven by the company making a “reliable volume of granular acquisitions” at a spread to its cost of capital, Essential’s focus on sourcing sale leaseback transactions with middle market operators via relationships and repeat business has allowed it to maintain attractive investment spreads, the analyst tells investors in a research note.
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