Key Points
- Insider sale: VP A. Joseph Peil sold 19,657 shares on March 20 at an average of $32.10 for $630,989.70, cutting his stake by 20.44% to 76,525 shares as disclosed in an SEC filing.
- Dividend: The company declared a $0.31 quarterly dividend (ex-dividend/record March 31, payable April 14), implying a $1.24 annualized payout and a ~4.0% yield with a high payout ratio of 96.9%.
- Analyst view: Consensus is a "Buy" with an average target of $36.60 (several firms raised targets, e.g., Truist to $37), suggesting potential upside from the current price near $31.35.
Essential Properties Realty Trust, Inc. (NYSE:EPRT - Get Free Report) CFO Robert Webb Salisbury sold 5,851 shares of the firm's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $31.88, for a total transaction of $186,529.88. Following the completion of the transaction, the chief financial officer directly owned 8,310 shares of the company's stock, valued at approximately $264,922.80. This represents a 41.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Essential Properties Realty Trust Trading Down 1.1%
NYSE:EPRT opened at $31.35 on Tuesday. The company has a market capitalization of $6.58 billion, a P/E ratio of 24.49, a PEG ratio of 2.34 and a beta of 0.95. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60. Essential Properties Realty Trust, Inc. has a 12 month low of $27.44 and a 12 month high of $34.73. The firm has a fifty day simple moving average of $32.06 and a 200-day simple moving average of $30.93.
Essential Properties Realty Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.24 dividend on an annualized basis and a yield of 4.0%. Essential Properties Realty Trust's payout ratio is currently 96.88%.
Institutional Trading of Essential Properties Realty Trust
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its holdings in Essential Properties Realty Trust by 15.3% in the fourth quarter. Corient Private Wealth LLC now owns 16,678 shares of the company's stock valued at $495,000 after buying an additional 2,215 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Essential Properties Realty Trust by 273.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,614 shares of the company's stock worth $48,000 after acquiring an additional 1,182 shares during the period. Sit Investment Associates Inc. boosted its stake in shares of 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 in the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of Essential Properties Realty Trust during the 4th quarter valued at about $99,000. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Essential Properties Realty Trust by 8.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 25,954 shares of the company's stock valued at $770,000 after acquiring an additional 1,962 shares during the period. Institutional investors and hedge funds own 96.98% of the company's stock.
Analyst Upgrades and Downgrades
EPRT has been the topic of a number of research reports. UBS Group increased their price objective on Essential Properties Realty Trust from $38.00 to $40.00 and gave the company a "buy" rating in a report on Monday, March 9th. Truist Financial lifted their target price on Essential Properties Realty Trust from $34.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Mizuho upped their target price on Essential Properties Realty Trust from $33.00 to $37.00 and gave the company an "outperform" rating in a research report on Wednesday, March 11th. Barclays reiterated an "overweight" rating and issued a $37.00 price target on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Finally, Raymond James Financial raised shares of Essential Properties Realty Trust from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $35.00 to $37.00 in a research report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Essential Properties Realty Trust currently has a consensus rating of "Buy" and a consensus target price of $36.60.
Read Our Latest Stock Analysis on Essential Properties Realty Trust
Essential Properties Realty Trust Company Profile
(
Get Free Report)
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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