Essential Properties Realty Trust (NYSE:EPRT) Sets New 12-Month High – Here’s Why

Essential Properties Realty Trust, Inc. (NYSE:EPRT)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $33.35 and last traded at $33.2060, with a volume of 1052840 shares trading hands. The stock had previously closed at $33.11.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EPRT shares. Weiss Ratings restated a “buy (b-)” rating on shares of Essential Properties Realty Trust in a report on Wednesday, January 28th. Mizuho raised their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a research report on Tuesday, February 17th. Barclays reiterated an “overweight” rating and set a $37.00 price target on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.67.

Essential Properties Realty Trust Price Performance

The company’s 50-day simple moving average is $30.66 and its 200 day simple moving average is $30.56. The company has a market cap of $6.97 billion, a PE ratio of 25.97, a PEG ratio of 2.40 and a beta of 0.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.37 and a current ratio of 6.37.

Essential Properties Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.31 per share. 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. This represents a $1.24 dividend on an annualized basis and a yield of 3.7%. Essential Properties Realty Trust’s dividend payout ratio is 96.88%.

Institutional Trading of Essential Properties Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cohen & Steers Inc. increased its holdings in shares of Essential Properties Realty Trust by 111.6% in the 4th quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company’s stock valued at $552,031,000 after acquiring an additional 9,816,042 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Essential Properties Realty Trust by 1,930,360.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company’s stock valued at $199,829,000 after purchasing an additional 6,736,959 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Essential Properties Realty Trust by 4,681.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,997,593 shares of the company’s stock valued at $118,569,000 after buying an additional 3,913,986 shares during the last quarter. Norges Bank acquired a new stake in shares of Essential Properties Realty Trust during the second quarter worth about $84,188,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Essential Properties Realty Trust by 195.4% during the third quarter. Balyasny Asset Management L.P. now owns 3,970,789 shares of the company’s stock worth $118,171,000 after buying an additional 2,626,478 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

About Essential Properties Realty Trust

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.