Wells Fargo initiated coverage of Essential Properties Realty Trust with an Overweight rating and $27 price target. The REIT, which seeks to invest in small-scale properties leased to middle-market businesses that facilitate in-person services and experiences, has a strong cost of capital, a low leverage balance sheet, and minimal near-term debt maturities that leads the firm to believe it will produce above-average growth compared to its Net Lease peers, the analyst tells investors.
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