Essential Properties Realty Trust, Inc. (NYSE:EPRT) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 6.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 78,649 shares of the company’s stock after buying an additional 4,515 shares during the quarter. Truist Financial Corp’s holdings in Essential Properties Realty Trust were worth $2,179,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Essential Properties Realty Trust by 4.4% in the first quarter. Vanguard Group Inc. now owns 25,377,389 shares of the company’s stock valued at $676,561,000 after buying an additional 1,060,079 shares in the last quarter. Wellington Management Group LLP grew its stake in Essential Properties Realty Trust by 18.4% during the 4th quarter. Wellington Management Group LLP now owns 9,931,196 shares of the company’s stock valued at $253,841,000 after purchasing an additional 1,543,346 shares in the last quarter. Principal Financial Group Inc. grew its stake in Essential Properties Realty Trust by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 2,697,079 shares of the company’s stock valued at $71,904,000 after purchasing an additional 187,256 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Essential Properties Realty Trust by 11.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,575,683 shares of the company’s stock valued at $71,372,000 after purchasing an additional 264,052 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Essential Properties Realty Trust by 9.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,966,304 shares of the company’s stock valued at $54,486,000 after purchasing an additional 169,222 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Essential Properties Realty Trust Trading Down 0.5 %

Shares of NYSE EPRT opened at $32.51 on Friday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 2.93 and a beta of 1.37. Essential Properties Realty Trust, Inc. has a 12-month low of $20.49 and a 12-month high of $34.51. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $31.85 and its 200 day simple moving average is $28.92.

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

Essential Properties Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.57%. The ex-dividend date is Monday, September 30th. Essential Properties Realty Trust’s dividend payout ratio is currently 94.31%.

Analyst Ratings Changes

A number of brokerages have weighed in on EPRT. Truist Financial raised their price objective on Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus increased their target price on Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a report on Thursday, September 26th. Raymond James increased their target price on Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. The Goldman Sachs Group assumed coverage on Essential Properties Realty Trust in a report on Friday, June 28th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Scotiabank increased their target price on Essential Properties Realty Trust from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Insider Activity at Essential Properties Realty Trust

In related news, 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 in the company, valued at $14,421,637.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is owned by insiders.

Essential Properties Realty Trust Profile

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.