Short Interest in Essential Properties Realty Trust, Inc. (NYSE:EPRT) Rises By 68.6%

Essential Properties Realty Trust, Inc. (NYSE:EPRT) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 17,777,458 shares, a growth of 68.6% from the February 12th total of 10,544,205 shares. Based on an average daily volume of 2,820,709 shares, the days-to-cover ratio is currently 6.3 days. Approximately 8.5% of the company’s stock are sold short. Approximately 8.5% of the company’s stock are sold short. Based on an average daily volume of 2,820,709 shares, the days-to-cover ratio is currently 6.3 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EPRT shares. Truist Financial boosted their target price on shares of Essential Properties Realty Trust from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group lifted their price target on Essential Properties Realty Trust from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research report on Wednesday, January 28th. Evercore reiterated an “outperform” rating on shares of Essential Properties Realty Trust in a report on Tuesday, February 17th. Finally, Mizuho boosted their target price on Essential Properties Realty Trust from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

Essential Properties Realty Trust Stock Performance

NYSE EPRT traded up $0.19 on Friday, reaching $33.21. The stock had a trading volume of 778,993 shares, compared to its average volume of 1,965,706. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.37 and a current ratio of 6.37. The stock has a market cap of $6.97 billion, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 2.43 and a beta of 0.95. The business’s 50-day moving average price is $31.68 and its 200 day moving average price is $30.86. Essential Properties Realty Trust has a 12-month low of $27.44 and a 12-month high of $34.73.

Essential Properties Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a $0.31 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.24 dividend on an annualized basis and a yield of 3.7%. Essential Properties Realty Trust’s payout ratio is currently 96.88%.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several hedge funds have recently made changes to their positions in EPRT. Corient Private Wealth LLC increased its position in Essential Properties Realty Trust by 15.3% in the 4th quarter. Corient Private Wealth LLC now owns 16,678 shares of the company’s stock valued at $495,000 after acquiring an additional 2,215 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Essential Properties Realty Trust by 273.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,614 shares of the company’s stock valued at $48,000 after acquiring an additional 1,182 shares during the last quarter. Sit Investment Associates Inc. lifted its position in Essential Properties Realty Trust by 20.0% during the 4th quarter. Sit Investment Associates Inc. now owns 26,375 shares of the company’s stock worth $782,000 after acquiring an additional 4,400 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in shares of Essential Properties Realty Trust in the 4th quarter valued at approximately $99,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Essential Properties Realty Trust by 8.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 25,954 shares of the company’s stock valued at $770,000 after purchasing an additional 1,962 shares during the period. Institutional investors and hedge funds own 96.98% 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.