Essential Properties Realty Trust, Inc.

NYSE:EPRT Stock Report

Market Cap: US$5.5b

Essential Properties Realty Trust Valuation

Is EPRT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of EPRT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EPRT ($31.53) is trading below our estimate of fair value ($84.87)

Significantly Below Fair Value: EPRT is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EPRT?

Key metric: As EPRT is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EPRT. This is calculated by dividing EPRT's market cap by their current earnings.
What is EPRT's PE Ratio?
PE Ratio28.2x
EarningsUS$196.27m
Market CapUS$5.55b

Price to Earnings Ratio vs Peers

How does EPRT's PE Ratio compare to its peers?

The above table shows the PE ratio for EPRT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29.4x
BNL Broadstone Net Lease
21.4x-4.4%US$3.2b
ESRT Empire State Realty Trust
37.4x-23.6%US$2.8b
ESBA Empire State Realty OP
37.5xn/aUS$2.7b
WPC W. P. Carey
21.3x6.4%US$11.9b
EPRT Essential Properties Realty Trust
28.2x13.2%US$5.5b

Price-To-Earnings vs Peers: EPRT is good value based on its Price-To-Earnings Ratio (28.2x) compared to the peer average (29.4x).

Price to Earnings Ratio vs Industry

How does EPRT's PE Ratio compare vs other companies in the North American REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EPRT 28.2xIndustry Avg. 15.6xNo. of Companies4PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EPRT is expensive based on its Price-To-Earnings Ratio (28.2x) compared to the Global REITs industry average (15.6x).

Price to Earnings Ratio vs Fair Ratio

What is EPRT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EPRT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio28.2x
Fair PE Ratio38.3x

Price-To-Earnings vs Fair Ratio: EPRT is good value based on its Price-To-Earnings Ratio (28.2x) compared to the estimated Fair Price-To-Earnings Ratio (38.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EPRT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$31.53
US$36.14
+14.6%
7.0%US$40.00US$29.50n/a18
Dec ’25US$34.10
US$35.59
+4.4%
7.2%US$40.00US$29.50n/a16
Nov ’25US$31.64
US$34.95
+10.5%
7.7%US$39.00US$29.50n/a16
Oct ’25US$33.51
US$34.20
+2.1%
7.0%US$38.00US$29.50n/a16
Sep ’25US$31.91
US$33.00
+3.4%
5.3%US$36.00US$29.50n/a16
Aug ’25US$29.76
US$31.21
+4.9%
7.9%US$35.00US$27.00n/a14
Jul ’25US$27.45
US$29.33
+6.9%
5.0%US$33.00US$27.00n/a15
Jun ’25US$26.78
US$28.93
+8.0%
3.9%US$31.00US$27.00n/a14
May ’25US$26.35
US$28.23
+7.1%
4.7%US$31.00US$26.00n/a13
Apr ’25US$26.20
US$28.08
+7.2%
4.6%US$31.00US$26.00n/a13
Mar ’25US$24.37
US$27.73
+13.8%
5.1%US$31.00US$25.00n/a13
Feb ’25US$25.25
US$27.29
+8.1%
6.0%US$31.00US$25.00n/a12
Jan ’25US$25.56
US$27.29
+6.8%
11.4%US$36.00US$23.00n/a12
Dec ’24US$24.55
US$26.71
+8.8%
12.5%US$36.00US$23.00US$34.1012
Nov ’24US$22.52
US$26.43
+17.4%
13.5%US$36.00US$23.00US$31.6411
Oct ’24US$21.63
US$28.27
+30.7%
10.2%US$36.00US$25.00US$33.5111
Sep ’24US$24.10
US$28.40
+17.8%
10.6%US$36.00US$25.00US$31.9110
Aug ’24US$24.29
US$28.40
+16.9%
10.2%US$36.00US$25.00US$29.7610
Jul ’24US$23.54
US$28.13
+19.5%
10.6%US$36.00US$25.00US$27.4510
Jun ’24US$23.87
US$27.57
+15.5%
11.1%US$36.00US$24.00US$26.7811
May ’24US$24.64
US$27.66
+12.3%
10.9%US$36.00US$24.00US$26.3511
Apr ’24US$24.85
US$27.34
+10.0%
11.4%US$36.00US$24.00US$26.2011
Mar ’24US$25.51
US$27.18
+6.5%
11.9%US$36.00US$24.00US$24.3710
Feb ’24US$25.16
US$26.07
+3.6%
13.8%US$36.00US$22.00US$25.2511
Jan ’24US$23.47
US$25.33
+7.9%
14.4%US$36.00US$22.00US$25.5612
Dec ’23US$23.28
US$24.83
+6.7%
15.6%US$36.00US$21.00US$24.5512

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 02:26
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Essential Properties Realty Trust, Inc. is covered by 30 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Richard HightowerBarclays
Nathan CrossettBerenberg
Juan SanabriaBMO Capital Markets Equity Research