Truist analyst Ki Bin Kim raised the firm’s price target on Essential Properties Realty Trust to $36 from $33 and keeps a Buy rating on the shares after meeting with its management team. The company continues to benefit from a steady and strong acquisition pipeline with $128M acquired in Q3 with another $187M under the Letter of Intent, the analyst tells investors in a research note. Given the recent improvement in capital markets, it is reasonable to expect incremental capital rate compression, though the REIT’s own cost of capital has also improved significantly over the past three months, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EPRT:
- Essential Properties Realty Trust asumed with an Overweight at Wells Fargo
- Essential Properties Realty Trust management to meet with Truist
- Essential Properties Realty Trust price target raised to $36.25 from $32 at Stifel
- Essential Properties price target raised to $34 from $33 at Evercore ISI
- Essential Properties Touts Strong Portfolio and Investment Strategy