Scotiabank analyst Nicholas Yulico raised the firm’s price target on Essential Properties Realty Trust (EPRT) to $35 from $34 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for U.S. Real Estate & REIT stocks under its coverage following Q4 results, the analyst tells investors. Scotiabank believes REITs should be raising target development yields to focus on near-term funds from operations per share impact and believes external growth from acquisitions offer a “better thematic story,” the firm adds.
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