Adelante Capital Management LLC Buys 238,816 Shares of Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Adelante Capital Management increased its EPRT stake by 58.1%, purchasing 238,816 shares to own 650,129 shares valued at approximately $19.7 million. Institutional investors collectively own 96.98% of the company.
• Essential Properties Realty Trust exceeded quarterly expectations, reporting $0.34 in EPS versus the $0.33 consensus and $161.89 million in revenue, up 18.1% year over year. The company also raised its quarterly dividend to $0.32 per share, representing a 4.0% annualized yield.
• Analysts maintain a broadly positive view, with the stock receiving an overall “Buy” rating and a consensus price target of $36.11, above its reported opening price of $32.11.

Adelante Capital Management LLC lifted its stake in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 58.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 650,129 shares of the company's stock after purchasing an additional 238,816 shares during the period. Essential Properties Realty Trust accounts for 1.3% of Adelante Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. Adelante Capital Management LLC owned approximately 0.30% of Essential Properties Realty Trust worth $19,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in shares of Essential Properties Realty Trust by 79.3% in the first quarter. EverSource Wealth Advisors LLC now owns 1,612 shares of the company's stock valued at $49,000 after buying an additional 713 shares during the period. California State Teachers Retirement System grew its stake in shares of Essential Properties Realty Trust by 25.9% during the 1st quarter. California State Teachers Retirement System now owns 237,668 shares of the company's stock worth $7,216,000 after acquiring an additional 48,942 shares during the period. Royal Bank of Canada grew its stake in shares of Essential Properties Realty Trust by 13.1% during the 1st quarter. Royal Bank of Canada now owns 54,463 shares of the company's stock worth $1,654,000 after acquiring an additional 6,327 shares during the period. Rush Island Management LP purchased a new stake in Essential Properties Realty Trust in the 1st quarter worth about $37,922,000. Finally, Empowered Funds LLC purchased a new stake in Essential Properties Realty Trust in the 1st quarter worth about $498,000. Hedge funds and other institutional investors own 96.98% of the company's stock.

Insider Activity

In related news, COO Robert M. Jenkins sold 22,000 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $32.22, for a total value of $708,840.00. Following the completion of the transaction, the chief operating officer directly owned 34,168 shares in the company, valued at approximately $1,100,892.96. The trade was a 39.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.77% of the company's stock.

Essential Properties Realty Trust Price Performance

NYSE:EPRT opened at $32.11 on Wednesday. Essential Properties Realty Trust, Inc. has a 52-week low of $28.95 and a 52-week high of $34.73. The stock has a fifty day moving average of $30.98 and a 200 day moving average of $31.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 8.17 and a current ratio of 8.17. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 2.52 and a beta of 0.88.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $161.89 million during the quarter, compared to analyst estimates of $156.65 million. Essential Properties Realty Trust had a return on equity of 6.34% and a net margin of 43.51%.Essential Properties Realty Trust's revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Essential Properties Realty Trust has set its FY 2026 guidance at 2.010-2.050 EPS. On average, research analysts expect that Essential Properties Realty Trust, Inc. will post 1.97 EPS for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Essential Properties Realty Trust's previous quarterly dividend of $0.31. Essential Properties Realty Trust's payout ratio is presently 99.22%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EPRT. Wall Street Zen upgraded shares of Essential Properties Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Stifel Nicolaus boosted their price target on shares of Essential Properties Realty Trust from $36.00 to $36.25 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of Essential Properties Realty Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, July 13th. Scotiabank raised shares of Essential Properties Realty Trust from a "sector perform" rating to a "sector outperform" rating and cut their price objective for the stock from $34.00 to $33.00 in a report on Thursday, June 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $36.11.

Essential Properties Realty Trust Profile

Essential Properties Realty Trust, Inc NYSE: EPRT is a self-administered real estate investment trust that acquires, owns and manages single-tenant commercial properties subject to long-term, triple-net leases. The company’s portfolio primarily consists of small-box retail and industrial assets, including convenience stores, automotive service centers, quick-service restaurants, fitness centers and other necessity-based businesses. Under a triple-net lease structure, tenants assume responsibility for property taxes, insurance and most maintenance expenses, providing Essential Properties with predictable, stable cash flows.

Since its founding in April 2016 and its initial public offering later that year, Essential Properties has pursued a growth strategy focused on partnering with creditworthy tenants operating in densely populated trade areas.

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