Mirae Asset Global Investments Co. Ltd. Raises Stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Mirae Asset Global Investments Co. Ltd. increased its stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 57.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,887 shares of the company’s stock after purchasing an additional 5,066 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Essential Properties Realty Trust were worth $474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Asset Dedication LLC acquired a new stake in shares of Essential Properties Realty Trust during the 2nd quarter valued at approximately $27,000. Blue Trust Inc. raised its holdings in Essential Properties Realty Trust by 95.2% during the third quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $28,000 after purchasing an additional 399 shares during the last quarter. Quarry LP boosted its position in Essential Properties Realty Trust by 611.3% during the second quarter. Quarry LP now owns 1,195 shares of the company’s stock worth $33,000 after purchasing an additional 1,027 shares in the last quarter. CWM LLC boosted its position in Essential Properties Realty Trust by 122.9% during the second quarter. CWM LLC now owns 1,244 shares of the company’s stock worth $34,000 after purchasing an additional 686 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Essential Properties Realty Trust by 116.4% in the second quarter. GAMMA Investing LLC now owns 1,945 shares of the company’s stock valued at $54,000 after buying an additional 1,046 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Essential Properties Realty Trust Stock Performance

NYSE EPRT opened at $31.64 on Friday. The business’s 50-day moving average price is $32.88 and its 200 day moving average price is $29.72. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.69. Essential Properties Realty Trust, Inc. has a twelve month low of $22.32 and a twelve month high of $34.51. The company has a market capitalization of $5.55 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.74 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 46.00%. The company had revenue of $117.13 million during the quarter, compared to analyst estimates of $109.73 million. During the same period in the prior year, the business posted $0.42 earnings per share. Essential Properties Realty Trust’s revenue was up 27.8% on a year-over-year basis. On average, research analysts predict that Essential Properties Realty Trust, Inc. will post 1.68 earnings per share for the current year.

Essential Properties Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.67%. Essential Properties Realty Trust’s payout ratio is 100.87%.

Insider Buying and Selling

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.33, for a total transaction of $899,323.61. Following the completion of the sale, the chief executive officer now owns 446,076 shares of the company’s stock, valued at approximately $14,421,637.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of Essential Properties Realty Trust from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Wedbush began coverage on shares of Essential Properties Realty Trust in a research report on Monday, August 19th. They issued an “outperform” rating and a $34.00 price target on the stock. UBS Group lifted their price objective on Essential Properties Realty Trust from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI increased their target price on Essential Properties Realty Trust from $33.00 to $34.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Truist Financial boosted their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.06.

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.