Essential Properties Realty Trust, Inc. $EPRT Shares Purchased by Adelante Capital Management LLC

Key Points

• Adelante Capital Management LLC substantially increased its holdings in Essential Properties Realty Trust by 1,231.9%, owning 636,179 shares after adding 588,416 shares during the first quarter.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., also increased their stakes in the company, with 96.98% of the stock held by institutional investors.
• Essential Properties Realty Trust reported $0.46 EPS for the latest quarter, missing estimates, and has set its FY 2025 guidance at 1.860-1.890 EPS.

Adelante Capital Management LLC lifted its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 1,231.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 636,179 shares of the company's stock after acquiring an additional 588,416 shares during the quarter. Essential Properties Realty Trust accounts for approximately 1.5% of Adelante Capital Management LLC's investment portfolio, making the stock its 24th biggest holding. Adelante Capital Management LLC owned approximately 0.32% of Essential Properties Realty Trust worth $20,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Nissay Asset Management Corp Japan ADV increased its holdings in Essential Properties Realty Trust by 7.1% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 27,237 shares of the company's stock worth $889,000 after acquiring an additional 1,801 shares in the last quarter. Millennium Management LLC grew its position in shares of Essential Properties Realty Trust by 13.0% in the first quarter. Millennium Management LLC now owns 1,394,060 shares of the company's stock valued at $45,502,000 after purchasing an additional 160,772 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Essential Properties Realty Trust by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,478 shares of the company's stock worth $3,410,000 after purchasing an additional 4,573 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of Essential Properties Realty Trust by 12.6% during the 1st quarter. Clark Capital Management Group Inc. now owns 169,807 shares of the company's stock worth $5,542,000 after purchasing an additional 19,065 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Essential Properties Realty Trust by 28.8% in the 1st quarter. Alliancebernstein L.P. now owns 1,245,404 shares of the company's stock valued at $40,650,000 after buying an additional 278,316 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company's stock.

Analyst Ratings Changes

EPRT has been the subject of several research reports. Barclays dropped their price target on Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. UBS Group upped their target price on shares of Essential Properties Realty Trust from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $35.34.

Essential Properties Realty Trust Trading Down 0.8%

Shares of EPRT traded down $0.24 during mid-day trading on Wednesday, reaching $29.73. The stock had a trading volume of 2,277,052 shares, compared to its average volume of 1,275,571. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.67 and a quick ratio of 5.67. Essential Properties Realty Trust, Inc. has a 52-week low of $27.44 and a 52-week high of $34.88. The business's fifty day moving average is $30.86 and its 200 day moving average is $31.56. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 2.33 and a beta of 1.08.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $129.11 million during the quarter, compared to analyst estimates of $131.72 million. Essential Properties Realty Trust had a net margin of 44.48% and a return on equity of 6.20%. The business's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the company earned $0.47 EPS. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. On average, sell-side analysts predict that Essential Properties Realty Trust, Inc. will post 1.83 EPS for the current fiscal year.

Essential Properties Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Essential Properties Realty Trust's dividend payout ratio is presently 101.69%.

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.