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

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

Essential Properties Realty Trust Price Performance

Shares of NYSE:EPRT traded up $0.19 during midday trading on Friday, hitting $33.21. 778,993 shares of the stock were exchanged, compared to its average volume of 1,965,706. The stock has a market cap of $6.97 billion, a P/E ratio of 25.94, a PEG ratio of 2.43 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 has a twelve month low of $27.44 and a twelve month high of $34.73. The company has a 50 day moving average price of $31.68 and a 200-day moving average price of $30.86.

Essential Properties Realty Trust Announces Dividend

The firm also recently announced 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 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 presently 96.88%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EPRT. Scotiabank upped their price objective on shares of Essential Properties Realty Trust from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Barclays reiterated an “overweight” rating and set a $37.00 price target on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Essential Properties Realty Trust in a report on Wednesday, January 28th. UBS Group raised their price objective on shares of Essential Properties Realty Trust from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday. Finally, Evercore reiterated an “outperform” rating on shares of Essential Properties Realty Trust in a research report on Tuesday, February 17th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Essential Properties Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $36.56.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC raised its position in shares of Essential Properties Realty Trust by 15.3% during the 4th quarter. Corient Private Wealth LLC now owns 16,678 shares of the company’s stock worth $495,000 after purchasing an additional 2,215 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings 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 buying an additional 1,182 shares during the last quarter. Sit Investment Associates Inc. increased its position in Essential Properties Realty Trust by 20.0% during the fourth quarter. Sit Investment Associates Inc. now owns 26,375 shares of the company’s stock worth $782,000 after buying an additional 4,400 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in Essential Properties Realty Trust during the fourth quarter worth $99,000. Finally, Mercer Global Advisors Inc. ADV raised 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 worth $770,000 after acquiring an additional 1,962 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.