Perennial Investment Advisors LLC acquired a new position in Essential Properties Realty Trust, Inc. (NYSE:EPRT – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,067 shares of the company’s stock, valued at approximately $778,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Essential Properties Realty Trust during the 2nd quarter valued at $1,183,153,000. Cohen & Steers Inc. increased its holdings in Essential Properties Realty Trust by 111.6% in the fourth quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company’s stock valued at $552,031,000 after purchasing an additional 9,816,042 shares during the last quarter. State Street Corp lifted its stake in Essential Properties Realty Trust by 8.2% in the second quarter. State Street Corp now owns 11,131,871 shares of the company’s stock valued at $358,488,000 after buying an additional 843,877 shares during the period. Wellington Management Group LLP lifted its stake in Essential Properties Realty Trust by 5.7% in the fourth quarter. Wellington Management Group LLP now owns 7,844,570 shares of the company’s stock valued at $232,670,000 after buying an additional 421,364 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Essential Properties Realty Trust by 1,930,360.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company’s stock worth $199,829,000 after buying an additional 6,736,959 shares during the last quarter. 96.98% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on EPRT. Barclays reduced their price objective on shares of Essential Properties Realty Trust from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Scotiabank upgraded shares of Essential Properties Realty Trust from a “sector perform” rating to a “sector outperform” rating and cut their target price for the stock from $34.00 to $33.00 in a report on Thursday, June 18th. Wells Fargo & Company lifted their price target on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Stifel Nicolaus upped their price objective on shares of Essential Properties Realty Trust from $36.00 to $36.25 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised Essential Properties Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company’s stock. According to data from MarketBeat, Essential Properties Realty Trust currently has an average rating of “Buy” and a consensus price target of $36.20.
Essential Properties Realty Trust Price Performance
NYSE:EPRT opened at $30.68 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 8.17 and a current ratio of 8.17. The stock’s 50-day simple moving average is $31.11 and its 200 day simple moving average is $31.54. The company has a market cap of $6.64 billion, a P/E ratio of 23.78, a P/E/G ratio of 2.49 and a beta of 0.86. Essential Properties Realty Trust, Inc. has a 52-week low of $28.95 and a 52-week high of $34.73.
Essential Properties Realty Trust (NYSE:EPRT – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $161.89 million during the quarter, compared to the consensus estimate of $156.65 million. Essential Properties Realty Trust had a net margin of 43.51% and a return on equity of 6.34%. Essential Properties Realty Trust’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Essential Properties Realty Trust has set its FY 2026 guidance at 2.010-2.050 EPS. As a group, sell-side analysts forecast that Essential Properties Realty Trust, Inc. will post 1.97 EPS for the current fiscal year.
Essential Properties Realty Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 4.2%. Essential Properties Realty Trust’s payout ratio is currently 99.22%.
Insiders Place Their Bets
In other Essential Properties Realty Trust news, COO Robert M. Jenkins sold 22,000 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $32.22, for a total value of $708,840.00. Following the transaction, the chief operating officer directly owned 34,168 shares of the company’s stock, valued at $1,100,892.96. This represents a 39.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.
Essential Properties Realty Trust Profile
Essential Properties Realty Trust, Inc (NYSE: EPRT) is a self-administered real estate investment trust that acquires, owns and manages single-tenant commercial properties subject to long-term, triple-net leases. The company’s portfolio primarily consists of small-box retail and industrial assets, including convenience stores, automotive service centers, quick-service restaurants, fitness centers and other necessity-based businesses. Under a triple-net lease structure, tenants assume responsibility for property taxes, insurance and most maintenance expenses, providing Essential Properties with predictable, stable cash flows.
Since its founding in April 2016 and its initial public offering later that year, Essential Properties has pursued a growth strategy focused on partnering with creditworthy tenants operating in densely populated trade areas.
Featured Articles
- Five stocks we like better than Essential Properties Realty Trust
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Receive News & Ratings for Essential Properties Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essential Properties Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.
