Bank of America Corp DE Has $40.37 Million Stock Position in Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Bank of America increased its EPRT stake by 45.5% in the first quarter, owning 1.33 million shares valued at approximately $40.37 million. Institutional investors collectively hold 96.98% of Essential Properties Realty Trust.
• Analysts maintain a broadly positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $36.20, compared with a recent price near $31.
• Essential Properties reported quarterly EPS of $0.34, slightly ahead of estimates, while revenue rose 18.1% year over year to $161.89 million. The REIT also raised its quarterly dividend to $0.32 per share, providing a 4.1% annualized yield.

Bank of America Corp DE boosted its holdings in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 45.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,329,642 shares of the company's stock after acquiring an additional 415,666 shares during the quarter. Bank of America Corp DE owned 0.61% of Essential Properties Realty Trust worth $40,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Essential Properties Realty Trust by 82.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares during the last quarter. First Horizon Corp increased its position in shares of Essential Properties Realty Trust by 146.9% during the fourth quarter. First Horizon Corp now owns 1,131 shares of the company's stock valued at $34,000 after buying an additional 673 shares during the period. Assetmark Inc. lifted its position in Essential Properties Realty Trust by 47.8% during the first quarter. Assetmark Inc. now owns 1,339 shares of the company's stock valued at $41,000 after buying an additional 433 shares during the period. Clearstead Advisors LLC increased its position in Essential Properties Realty Trust by 664.4% during the fourth quarter. Clearstead Advisors LLC now owns 1,590 shares of the company's stock valued at $47,000 after acquiring an additional 1,382 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Essential Properties Realty Trust by 273.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,614 shares of the company's stock valued at $48,000 after buying an additional 1,182 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EPRT shares. Wells Fargo & Company boosted their target price on Essential Properties Realty Trust from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. Weiss Ratings cut Essential Properties Realty Trust from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, July 24th. Stifel Nicolaus lifted their price objective on shares of Essential Properties Realty Trust from $36.00 to $36.25 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Scotiabank upgraded shares of Essential Properties Realty Trust from a "sector perform" rating to a "sector outperform" rating and lowered their price target for the stock from $34.00 to $33.00 in a report on Thursday, June 18th. Finally, Barclays cut their price objective on shares of Essential Properties Realty Trust from $40.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $36.20.

Insider Activity

In other Essential Properties Realty Trust news, COO Robert M. Jenkins sold 22,000 shares of Essential Properties Realty Trust stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $32.22, for a total value of $708,840.00. Following the sale, the chief operating officer owned 34,168 shares of the company's stock, valued at $1,100,892.96. This trade represents a 39.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

Essential Properties Realty Trust Trading Up 1.4%

Shares of EPRT stock opened at $31.05 on Friday. The company has a market cap of $6.72 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 2.47 and a beta of 0.86. Essential Properties Realty Trust, Inc. has a 12 month low of $28.95 and a 12 month high of $34.73. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $31.00 and its two-hundred day moving average is $31.51.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Essential Properties Realty Trust had a return on equity of 6.34% and a net margin of 43.51%.The company had revenue of $161.89 million for the quarter, compared to the consensus estimate of $156.65 million. During the same period last year, the business posted $0.46 earnings per share. The firm's revenue was up 18.1% compared to the same quarter last year. Essential Properties Realty Trust has set its FY 2026 guidance at 2.010-2.050 EPS. Equities analysts predict that Essential Properties Realty Trust, Inc. will post 1.97 EPS for the current year.

Essential Properties Realty Trust Increases Dividend

The business also recently declared 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 represents a $1.28 annualized dividend and a dividend yield of 4.1%. This is an increase from Essential Properties Realty Trust's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, June 30th. Essential Properties Realty Trust's payout ratio is currently 99.22%.

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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