Elo Mutual Pension Insurance Co Buys 31,143 Shares of Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Elo Mutual Pension Insurance Co. more than doubled its stake in Essential Properties Realty Trust in Q3, buying an additional 31,143 shares for a total holding of 60,838 shares worth about $1.81 million (a 104.9% increase).
• Essential Properties raised its quarterly dividend to $0.31 ($1.24 annualized), a yield of ~3.6%, though the dividend payout ratio is high at 96.88%.
• Analysts are broadly positive—nine Buys and one Hold—with an average price target of $35.78; the stock trades with a market cap of $7.26 billion and a P/E of 27.02, and a 52-week range of $27.44–$34.73.

Elo Mutual Pension Insurance Co lifted its stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 104.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,838 shares of the company's stock after purchasing an additional 31,143 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Essential Properties Realty Trust were worth $1,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in Essential Properties Realty Trust during the 2nd quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Essential Properties Realty Trust during the third quarter valued at approximately $46,000. Versant Capital Management Inc grew its holdings in shares of Essential Properties Realty Trust by 54.2% during the third quarter. Versant Capital Management Inc now owns 1,867 shares of the company's stock valued at $56,000 after buying an additional 656 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Essential Properties Realty Trust during the third quarter valued at approximately $61,000. Finally, Smartleaf Asset Management LLC raised its holdings in Essential Properties Realty Trust by 24.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,861 shares of the company's stock worth $85,000 after acquiring an additional 569 shares during the last quarter. Institutional investors own 96.98% of the company's stock.

Essential Properties Realty Trust Price Performance

EPRT stock opened at $34.58 on Thursday. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 2.54 and a beta of 0.95. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.37 and a current ratio of 6.37. The business's 50-day moving average is $31.20 and its two-hundred day moving average is $30.74. Essential Properties Realty Trust, Inc. has a fifty-two week low of $27.44 and a fifty-two week high of $34.73.

Essential Properties Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.6%. This is a positive change from Essential Properties Realty Trust's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, December 31st. Essential Properties Realty Trust's dividend payout ratio (DPR) is presently 96.88%.

Analyst Ratings Changes

Several analysts have commented on EPRT shares. Evercore reiterated an "outperform" rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. Scotiabank boosted their target price on Essential Properties Realty Trust from $34.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Monday. Weiss Ratings restated a "buy (b-)" rating on shares of Essential Properties Realty Trust in a research note on Wednesday, January 28th. Finally, Barclays reiterated an "overweight" rating and issued a $37.00 price target on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.78.

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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