Essential Properties Realty Trust (NYSE:EPRT) Posts Earnings Results, Hits Expectations

Key Points

• Essential Properties Realty Trust reported $0.48 earnings per share for the quarter, meeting analysts' expectations with a net margin of 44.48%.
• The company declared a quarterly dividend of $0.30 per share, with a current dividend yield of 3.8% and a payout ratio of 101.69%.
• Institutional investors hold 96.98% of the company's stock, reflecting strong interest from hedge funds, with notable increases in positions by firms like Royal Bank of Canada and Goldman Sachs.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.48 earnings per share for the quarter, hitting analysts' consensus estimates of $0.48, Zacks reports. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 44.48%.

Essential Properties Realty Trust Stock Performance

Shares of NYSE:EPRT traded down $0.22 during trading on Wednesday, hitting $31.41. 3,359,005 shares of the stock were exchanged, compared to its average volume of 1,700,905. Essential Properties Realty Trust has a 1-year low of $27.44 and a 1-year high of $34.88. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The company's fifty day simple moving average is $30.29 and its 200-day simple moving average is $31.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.67 and a current ratio of 5.67.

Essential Properties Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. Essential Properties Realty Trust's dividend payout ratio (DPR) is presently 101.69%.

Hedge Funds Weigh In On Essential Properties Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of EPRT. Royal Bank of Canada lifted its position in shares of Essential Properties Realty Trust by 159.4% during the 1st quarter. Royal Bank of Canada now owns 74,147 shares of the company's stock worth $2,420,000 after buying an additional 45,561 shares during the period. AQR Capital Management LLC lifted its position in shares of Essential Properties Realty Trust by 21.8% during the 1st quarter. AQR Capital Management LLC now owns 22,244 shares of the company's stock worth $726,000 after buying an additional 3,981 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Essential Properties Realty Trust by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,387,218 shares of the company's stock worth $45,279,000 after buying an additional 195,057 shares during the period. Jane Street Group LLC bought a new position in shares of Essential Properties Realty Trust during the 1st quarter worth approximately $2,350,000. Finally, First Trust Advisors LP lifted its position in shares of Essential Properties Realty Trust by 28.4% during the 2nd quarter. First Trust Advisors LP now owns 145,784 shares of the company's stock worth $4,652,000 after buying an additional 32,254 shares during the period. Institutional investors own 96.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EPRT shares. Weiss Ratings reissued a "buy (b)" rating on shares of Essential Properties Realty Trust in a research note on Wednesday, October 8th. Evercore ISI raised Essential Properties Realty Trust from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $34.00 to $36.00 in a research note on Monday, September 15th. Berenberg Bank started coverage on Essential Properties Realty Trust in a research note on Monday, October 13th. They issued a "buy" rating and a $36.00 price objective on the stock. Cantor Fitzgerald started coverage on Essential Properties Realty Trust in a report on Wednesday, October 1st. They issued an "overweight" rating and a $35.00 target price on the stock. Finally, Stifel Nicolaus lowered their target price on Essential Properties Realty Trust from $36.00 to $35.50 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.23.

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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