BlackRock Inc. Takes $1.18 Billion Position in Essential Properties Realty Trust, Inc. $EPRT

Key Points

• BlackRock acquired 39.6 million shares of Essential Properties Realty Trust worth approximately $1.18 billion, representing an 18.33% stake. Institutional investors and hedge funds collectively own 96.98% of the company.
• Analysts maintain a broadly positive view, with an average “Buy” rating and a $36.20 price target, compared with the stock’s reported $30.88 price.
• Essential Properties exceeded quarterly earnings and revenue expectations, while raising its quarterly dividend to $0.32 per share—an annualized $1.28 payout and roughly a 4.1% yield.

BlackRock Inc. bought a new position in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,636,617 shares of the company's stock, valued at approximately $1,183,153,000. BlackRock Inc. owned about 18.33% of Essential Properties Realty Trust as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPRT. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Essential Properties Realty Trust by 14.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 975,355 shares of the company's stock worth $29,051,000 after buying an additional 126,372 shares in the last quarter. Strs Ohio increased its holdings in Essential Properties Realty Trust by 28.0% in the fourth quarter. Strs Ohio now owns 719,600 shares of the company's stock valued at $21,343,000 after buying an additional 157,600 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Essential Properties Realty Trust by 1,930,360.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company's stock valued at $199,829,000 after buying an additional 6,736,959 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Essential Properties Realty Trust by 111.6% in the fourth quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company's stock worth $552,031,000 after acquiring an additional 9,816,042 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Essential Properties Realty Trust by 9.0% during the 4th quarter. Legal & General Group Plc now owns 1,397,170 shares of the company's stock worth $41,440,000 after acquiring an additional 115,768 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EPRT. Mizuho reduced their target price on Essential Properties Realty Trust from $37.00 to $34.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Wells Fargo & Company upped their price objective on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Wall Street Zen lowered shares of Essential Properties Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Cantor Fitzgerald upped their price target on shares of Essential Properties Realty Trust from $36.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus raised 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 note on Thursday, July 23rd. 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 an average price target of $36.20.

Essential Properties Realty Trust Trading Down 0.9%

Shares of EPRT stock opened at $30.88 on Friday. The company's 50-day moving average price is $31.06 and its 200-day moving average price is $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. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 2.52 and a beta of 0.86. Essential Properties Realty Trust, Inc. has a twelve month low of $28.95 and a twelve month high of $34.73.

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

Essential Properties Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a boost from Essential Properties Realty Trust's previous quarterly dividend of $0.31. Essential Properties Realty Trust's dividend payout ratio is presently 99.22%.

Insider Buying and Selling

In related news, COO Robert M. Jenkins sold 22,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was 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. This represents a 39.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.77% of the company's stock.

About Essential Properties Realty Trust

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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