Scotiabank Upgrades Essential Properties Realty Trust to 'Buy'

On June 18, 2026, Scotiabank analyst Greg McGinniss upgraded Essential Properties Realty Trust, Inc. (NYSE: EPRT) to a 'buy' rating. The firm set a price target of $33 for the real estate investment trust (REIT), which specializes in single-tenant properties. The stock was trading at $29.52 at the time of the upgrade.

Other Institutional Activity in Essential Properties Realty Trust

Several major investors have been active in Essential Properties Realty Trust. BlackRock, Inc. grew its holdings by 107,287 shares, ending with 37,265,819 shares worth about $1.13 billion. Cohen & Steers, Inc. significantly increased its position by 10,995,390 shares, bringing its total to 29,607,357 shares valued at approximately $898.88 million. Vanguard Portfolio Management LLC entered the stock with 19,839,832 shares valued at $602.34 million. State Street Corp added 315,315 shares, totaling 11,467,567 shares worth $351.64 million. Wellington Management Group LLP also increased its stake by 443,821 shares, holding 8,288,391 shares valued at $251.64 million.

Essential Properties Realty Trust, Inc. Stock Down 0.5%

Shares of NYSE:EPRT traded near $29.52. Essential Properties Realty Trust has a market cap of approximately $6.38 billion, a P/E ratio of 23.24, and a forward P/E of 21.08. The stock has a 52-week low of $28.95 and a high of $34.73, with a 50-day moving average of $31.22 and a 200-day moving average of $30.99. The REIT maintains a current ratio of 2.72 and a quick ratio of 2.53, with a debt-to-equity ratio of 60.12.

Recent Earnings

In its most recent earnings report, Essential Properties Realty Trust posted revenue of $590.66 million, reflecting a growth rate of 22.8%. The company reported an EPS of $1.27, with a net margin of 43.46% and a return on equity of 6.26%. The next earnings release is scheduled for July 22, 2026.

Dividend

Essential Properties Realty Trust pays an annual dividend rate of $1.28, yielding 4.21% based on current prices. The dividend payout ratio stands at 96.06%.

Insider Buying and Selling at Essential Properties Realty Trust, Inc.

Several insiders purchased shares on May 13, 2026. Heather Neary, Joyce Delucca, Scott Estes, Lawrence Minich, and Janaki Sivanesan each bought 3,837 shares, while Stephen Sautel acquired 6,775 shares at an average price of $13.56 per share. These transactions were not part of a pre-planned 10b5-1 trading plan.

Analysts Set New Price Targets

On June 18, 2026, Scotiabank upgraded the stock to a 'buy' rating with a $33 price target. Wells Fargo maintained its 'buy' rating with a $36 target on June 1, 2026. Mizuho also maintained a 'buy' rating, setting a $34 target on May 13, 2026. The stock has a consensus 'strong buy' rating, with a mean target price of $37.10 based on 20 analyst opinions.

About Essential Properties Realty Trust

Essential Properties Realty Trust, Inc. is a real estate investment trust (REIT) based in Princeton, New Jersey. The company focuses on acquiring, owning, and managing single-tenant properties that are net leased on a long-term basis to businesses in service-oriented or experience-based sectors. As of September 30, 2025, the portfolio included 2,266 properties with a weighted average lease term of 14.4 years, spanning 48 states. The company, led by CEO Peter M. Mavoides, was founded in 2016 and employs 56 people.

Bottom Line

Scotiabank's upgrade of Essential Properties Realty Trust to 'buy' with a $33 target reflects confidence in the company's strategy and market position. Essential Properties' solid financial metrics and strong institutional support make it a stock to watch. Keep in mind that analyst ratings and price targets are projections and may not predict future performance.