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

Essential Properties Realty Trust (NYSE:EPRT) announced its quarterly earnings data on Wednesday. The company reported $0.49 EPS for the quarter, meeting 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 Trading Down 1.2%

Essential Properties Realty Trust stock traded down $0.39 during trading hours on Wednesday, reaching $31.53. The stock had a trading volume of 1,324,011 shares, compared to its average volume of 1,735,303. The company has a fifty day simple moving average of $30.40 and a 200-day simple moving average of $30.46. Essential Properties Realty Trust has a 52 week low of $27.44 and a 52 week high of $33.35. The stock has a market cap 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.

Essential Properties Realty Trust Increases Dividend

The company 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 is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.24 dividend on an annualized basis and a yield of 3.9%. Essential Properties Realty Trust’s payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Monday, January 5th. Barclays reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research report on Wednesday, January 28th. Stifel Nicolaus set a $36.00 price target on shares of Essential Properties Realty Trust in a research note on Thursday, October 23rd. Finally, Mizuho upped their price target on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $35.41.

Institutional Trading of Essential Properties Realty Trust

Several large investors have recently modified their holdings of EPRT. Danske Bank A S purchased a new position in shares of Essential Properties Realty Trust during the third quarter valued at approximately $57,000. Harvest Fund Management Co. Ltd lifted its stake in Essential Properties Realty Trust by 27.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 3,861 shares of the company’s stock worth $115,000 after acquiring an additional 840 shares during the period. Headlands Technologies LLC boosted its holdings in Essential Properties Realty Trust by 196.1% in the second quarter. Headlands Technologies LLC now owns 7,260 shares of the company’s stock valued at $232,000 after acquiring an additional 4,808 shares in the last quarter. FORA Capital LLC purchased a new position in Essential Properties Realty Trust during the 3rd quarter valued at $220,000. Finally, FJ Capital Management LLC purchased a new position in Essential Properties Realty Trust during the 2nd quarter valued at $240,000. 96.98% of the stock is owned by institutional investors.

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.