Bank of America Corp DE Grows Position in Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Bank of America Corp DE lifted its holdings in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 163.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 963,055 shares of the company's stock after purchasing an additional 597,293 shares during the quarter. Bank of America Corp DE owned about 0.55% of Essential Properties Realty Trust worth $30,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in shares of Essential Properties Realty Trust by 84.0% during the 4th quarter. BNP Paribas Financial Markets now owns 73,639 shares of the company's stock worth $2,303,000 after purchasing an additional 33,624 shares during the period. Aptus Capital Advisors LLC lifted its stake in Essential Properties Realty Trust by 22.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 233,323 shares of the company's stock worth $7,298,000 after acquiring an additional 42,692 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Essential Properties Realty Trust during the 4th quarter worth about $1,076,000. Northern Trust Corp lifted its stake in Essential Properties Realty Trust by 19.8% during the 4th quarter. Northern Trust Corp now owns 2,526,025 shares of the company's stock worth $79,014,000 after acquiring an additional 417,443 shares in the last quarter. Finally, Quarry LP lifted its stake in Essential Properties Realty Trust by 439.4% during the 4th quarter. Quarry LP now owns 1,451 shares of the company's stock worth $45,000 after acquiring an additional 1,182 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stephen D. Sautel sold 12,500 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $32.54, for a total value of $406,750.00. Following the transaction, the director now owns 178,785 shares in the company, valued at approximately $5,817,663.90. This represents a 6.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. B. Riley lowered Essential Properties Realty Trust from a "buy" rating to a "neutral" rating and increased their target price for the stock from $29.50 to $33.50 in a research note on Wednesday, February 19th. Barclays decreased their target price on Essential Properties Realty Trust from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Capital One Financial assumed coverage on Essential Properties Realty Trust in a research note on Wednesday, February 12th. They set an "overweight" rating and a $35.00 target price on the stock. Finally, UBS Group decreased their target price on Essential Properties Realty Trust from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.77.

Essential Properties Realty Trust Price Performance

EPRT stock opened at $32.29 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.36 and a quick ratio of 5.36. The firm has a market capitalization of $6.38 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.90 and a beta of 1.09. The business's 50-day moving average is $31.60 and its two-hundred day moving average is $31.95. Essential Properties Realty Trust, Inc. has a 1 year low of $26.07 and a 1 year high of $34.88.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Essential Properties Realty Trust had a net margin of 45.15% and a return on equity of 6.12%. The business had revenue of $129.35 million during the quarter, compared to analysts' expectations of $124.88 million. During the same quarter in the previous year, the company posted $0.42 EPS. The company's revenue was up 24.9% compared to the same quarter last year. Analysts anticipate that Essential Properties Realty Trust, Inc. will post 1.83 earnings per share for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were issued a $0.295 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.65%. Essential Properties Realty Trust's payout ratio is currently 102.61%.

Essential Properties Realty Trust Company 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.

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