Texas Permanent School Fund Corp Sells 16,133 Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Texas Permanent School Fund Corp cut its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,418 shares of the company’s stock after selling 16,133 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Essential Properties Realty Trust worth $3,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EPRT. Asset Dedication LLC bought a new stake in shares of Essential Properties Realty Trust during the second quarter valued at approximately $27,000. Principal Securities Inc. bought a new stake in Essential Properties Realty Trust in the fourth quarter worth $31,000. Heritage Wealth Advisors boosted its holdings in Essential Properties Realty Trust by 71.4% in the fourth quarter. Heritage Wealth Advisors now owns 1,200 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares in the last quarter. CWM LLC boosted its holdings in Essential Properties Realty Trust by 122.9% in the second quarter. CWM LLC now owns 1,244 shares of the company’s stock worth $34,000 after acquiring an additional 686 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Essential Properties Realty Trust by 116.4% in the second quarter. GAMMA Investing LLC now owns 1,945 shares of the company’s stock worth $54,000 after acquiring an additional 1,046 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Essential Properties Realty Trust Stock Performance

NYSE EPRT opened at $32.81 on Friday. The stock has a market capitalization of $5.75 billion, a PE ratio of 26.67, a P/E/G ratio of 2.73 and a beta of 1.37. The business has a 50 day simple moving average of $30.52 and a two-hundred day simple moving average of $27.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.90 and a quick ratio of 4.90. Essential Properties Realty Trust, Inc. has a 1-year low of $20.49 and a 1-year high of $32.96.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.13). The firm had revenue of $109.30 million for the quarter, compared to analysts’ expectations of $102.99 million. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. On average, research analysts predict that Essential Properties Realty Trust, Inc. will post 1.68 EPS for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 94.31%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EPRT shares. UBS Group boosted their price target on Essential Properties Realty Trust from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Raymond James upped their price objective on Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Truist Financial upped their price objective on Essential Properties Realty Trust from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group initiated coverage on Essential Properties Realty Trust in a research report on Friday, June 28th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Wedbush initiated coverage on Essential Properties Realty Trust in a research report on Monday, August 19th. They set an “outperform” rating and a $34.00 price objective for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Essential Properties Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $31.73.

Insider Transactions at Essential Properties Realty Trust

In other news, CEO Peter M. Mavoides sold 20,863 shares of Essential Properties Realty Trust stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $27.54, for a total value of $574,567.02. Following the completion of the transaction, the chief executive officer now owns 514,464 shares in the company, valued at approximately $14,168,338.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Peter M. Mavoides sold 20,863 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $27.54, for a total transaction of $574,567.02. Following the completion of the sale, the chief executive officer now directly owns 514,464 shares of the company’s stock, valued at approximately $14,168,338.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter M. Mavoides sold 27,817 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.33, for a total value of $899,323.61. Following the sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at $14,421,637.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,592 shares of company stock worth $1,863,808. 0.81% of the stock is currently owned by company insiders.

About Essential Properties Realty Trust

Essential Properties Realty Trust, Inc, a real estate company, acquires, owns, and manages single-tenant properties in the United States. The company leases its properties to middle-market companies, such as restaurants, car washes, automotive services, medical and dental services, convenience stores, equipment rental, entertainment, early childhood education, grocery, and health and fitness on a long-term basis.