Essential Properties Realty (EPRT – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst Ki Bin Kim from Truist Financial maintained a Buy rating on the stock and has a $34.00 price target.
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Ki Bin Kim has given his Buy rating due to a combination of factors that highlight Essential Properties Realty’s strong performance and growth prospects. The company’s earnings for the fourth quarter of 2024 were in line with expectations, and the guidance for 2025 Adjusted Funds From Operations per share (AFFO/sh) was slightly raised, indicating confidence in the company’s financial trajectory. The projected year-over-year growth rate of 7.6% in AFFO/sh is among the highest in the Real Estate Investment Trusts (REITs) sector, supporting a positive outlook on the stock.
Furthermore, Essential Properties Realty benefits from a cost of capital advantage, allowing it to acquire assets at an accelerated pace. The stability of its tenant base remains strong, with minimal credit deterioration and high occupancy rates, despite a slight decline. These factors collectively reinforce the Buy rating, as the company demonstrates robust operational performance and strategic growth initiatives.
According to TipRanks, Bin Kim is a 5-star analyst with an average return of 9.3% and a 63.58% success rate. Bin Kim covers the Real Estate sector, focusing on stocks such as Prologis, Americold Realty, and Acadia Realty.
In another report released today, Capital One Financial also initiated coverage with a Buy rating on the stock with a $35.00 price target.