Rush Island Management LP acquired a new stake in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,249,087 shares of the company’s stock, valued at approximately $37,922,000. Essential Properties Realty Trust comprises approximately 2.5% of Rush Island Management LP’s holdings, making the stock its 12th biggest position.
Several other hedge funds and other institutional investors also recently made changes to their positions in EPRT. Royal Bank of Canada lifted its position in Essential Properties Realty Trust by 159.4% in the 1st quarter. Royal Bank of Canada now owns 74,147 shares of the company’s stock valued at $2,420,000 after acquiring an additional 45,561 shares in the last quarter. AQR Capital Management LLC increased its holdings in Essential Properties Realty Trust by 21.8% during the 1st quarter. AQR Capital Management LLC now owns 22,244 shares of the company’s stock worth $726,000 after purchasing an additional 3,981 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Essential Properties Realty Trust by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,387,218 shares of the company’s stock worth $45,279,000 after purchasing an additional 195,057 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Essential Properties Realty Trust in the first quarter worth approximately $2,350,000. Finally, First Trust Advisors LP raised its stake in shares of Essential Properties Realty Trust by 28.4% in the second quarter. First Trust Advisors LP now owns 145,784 shares of the company’s stock worth $4,652,000 after purchasing an additional 32,254 shares during the last quarter. 96.98% of the stock is owned by institutional investors.
Essential Properties Realty Trust Stock Performance
Shares of EPRT opened at $32.11 on Wednesday. The stock has a 50 day moving average of $30.98 and a 200 day moving average of $31.47. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.65. Essential Properties Realty Trust, Inc. has a 12 month low of $28.95 and a 12 month high of $34.73. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 2.52 and a beta of 0.88.
Essential Properties Realty Trust Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.31. Essential Properties Realty Trust’s payout ratio is currently 99.22%.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Scotiabank raised Essential Properties Realty Trust from a “sector perform” rating to a “sector outperform” rating and cut their target price for the company from $34.00 to $33.00 in a research report on Thursday, June 18th. Wall Street Zen upgraded Essential Properties Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Barclays cut 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 report on Wednesday, July 22nd. Mizuho reduced their target price on shares of Essential Properties Realty Trust from $37.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company raised their price target on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $36.11.
Read Our Latest Report on EPRT
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 on Friday, July 24th. The stock was sold at an average price of $32.22, for a total transaction of $708,840.00. Following the completion of the transaction, the chief operating officer directly owned 34,168 shares of the company’s stock, valued at approximately $1,100,892.96. This represents a 39.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.77% of the company’s stock.
Essential Properties Realty Trust Company 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.
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