Adelante Capital Management LLC Purchases New Position in Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Adelante Capital Management initiated a position in Essential Properties Realty Trust worth approximately $16.4 million, while institutional investors collectively own 96.98% of the company.
• Analysts remain bullish on EPRT, with an average rating of “Buy” and a consensus price target of $36.20 versus the stock’s reported $30.68 opening price.
• The REIT exceeded quarterly earnings and revenue expectations, with revenue rising 18.1% year over year, and increased its quarterly dividend to $0.32 per share, implying a 4.2% annualized yield.

Adelante Capital Management LLC bought a new stake in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 549,615 shares of the company's stock, valued at approximately $16,406,000. Essential Properties Realty Trust comprises 1.1% of Adelante Capital Management LLC's investment portfolio, making the stock its 26th largest holding. Adelante Capital Management LLC owned approximately 0.25% of Essential Properties Realty Trust at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Corient Private Wealth LP bought a new stake in Essential Properties Realty Trust in the 2nd quarter worth approximately $465,000. Perennial Investment Advisors LLC bought a new position in shares of Essential Properties Realty Trust during the 2nd quarter valued at $778,000. Bank of America Corp DE bought a new position in shares of Essential Properties Realty Trust during the 2nd quarter valued at $52,056,000. Jupiter Topco LLC purchased a new position in shares of Essential Properties Realty Trust in the 2nd quarter worth $2,838,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Essential Properties Realty Trust in the 2nd quarter worth $27,008,000. Institutional investors own 96.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EPRT. Stifel Nicolaus upped 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. Cantor Fitzgerald boosted their target price on shares of Essential Properties Realty Trust from $36.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Essential Properties Realty Trust from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 17th. Barclays decreased their price target on shares of Essential Properties Realty Trust from $40.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock 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 assigned a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $36.20.

Essential Properties Realty Trust Price Performance

Shares of Essential Properties Realty Trust stock opened at $30.68 on Thursday. The firm has a market cap of $6.64 billion, a PE ratio of 23.78, a PEG ratio of 2.49 and a beta of 0.86. The stock has a 50 day moving average of $31.11 and a 200 day moving average of $31.54. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.65. Essential Properties Realty Trust, Inc. has a 12 month low of $28.95 and a 12 month high of $34.73.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last released its quarterly earnings results 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%.The firm's revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $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 announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.32 per share. This is an increase from Essential Properties Realty Trust's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Essential Properties Realty Trust's payout ratio is presently 99.22%.

Insider Activity

In other Essential Properties Realty Trust news, COO Robert M. Jenkins sold 22,000 shares of the business's stock in a transaction dated 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 sale, the chief operating officer directly owned 34,168 shares of the company's stock, valued at $1,100,892.96. The trade was a 39.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.77% of the company's stock.

Essential Properties Realty Trust Company 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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