Essential Properties Realty Trust (NYSE:EPRT) Posts Quarterly Earnings Results, Hits Estimates

Essential Properties Realty Trust (NYSE:EPRT) announced its quarterly earnings data on Wednesday. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49, Zacks reports. Essential Properties Realty Trust had a return on equity of 6.38% and a net margin of 45.25%.

Essential Properties Realty Trust Price Performance

Shares of NYSE:EPRT traded down $0.39 on Wednesday, hitting $31.53. The company’s stock had a trading volume of 1,324,011 shares, compared to its average volume of 1,735,303. The company has a market capitalization of $6.25 billion, a PE ratio of 25.42, a PEG ratio of 2.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.66 and a quick ratio of 5.66. The company has a 50-day simple moving average of $30.40 and a 200 day simple moving average of $30.46. Essential Properties Realty Trust has a 1 year low of $27.44 and a 1 year high of $33.35.

Essential Properties Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, December 31st. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s payout ratio is 100.00%.

Institutional Investors Weigh In On Essential Properties Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake 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 worth $2,420,000 after buying an additional 45,561 shares in the last quarter. AQR Capital Management LLC raised its position in shares of 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 valued at $726,000 after buying an additional 3,981 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of 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 acquiring an additional 195,057 shares during the last quarter. Jane Street Group LLC purchased a new position in Essential Properties Realty Trust in the first quarter worth $2,350,000. Finally, First Trust Advisors LP grew its position in 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 acquiring an additional 32,254 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EPRT shares. Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a research note on Monday, January 5th. Evercore lowered their target price on shares of Essential Properties Realty Trust from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Essential Properties Realty Trust in a report on Wednesday, January 28th. Barclays reiterated an “overweight” rating and issued a $37.00 price target on shares of Essential Properties Realty Trust in a research report on Tuesday, January 13th. Finally, Mizuho increased their price objective on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.41.

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.