Essential Properties Realty Trust, Inc. $EPRT Holdings Boosted by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its holdings in Essential Properties Realty Trust by 269.6% during the first quarter, acquiring an additional 310,000 shares, bringing its total to 425,000 shares worth approximately $13.9 million.
• Other large investors, including EP Wealth Advisors LLC and Royal Bank of Canada, also boosted their positions in the company, contributing to a total institutional ownership of 96.98%.
• Despite recent investments, Essential Properties reported a quarterly earnings miss, posting $0.46 EPS against estimates of $0.47, and set FY 2025 guidance between 1.860-1.890 EPS.

Adage Capital Partners GP L.L.C. boosted its holdings in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 269.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 425,000 shares of the company's stock after acquiring an additional 310,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.22% of Essential Properties Realty Trust worth $13,872,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. EP Wealth Advisors LLC lifted its holdings in Essential Properties Realty Trust by 31.1% in the first quarter. EP Wealth Advisors LLC now owns 8,512 shares of the company's stock worth $278,000 after acquiring an additional 2,021 shares during the last quarter. Royal Bank of Canada grew its position in shares of Essential Properties Realty Trust by 159.4% during the first quarter. Royal Bank of Canada now owns 74,147 shares of the company's stock worth $2,420,000 after acquiring an additional 45,561 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in shares of Essential Properties Realty Trust by 30.7% during the first quarter. Landscape Capital Management L.L.C. now owns 47,013 shares of the company's stock worth $1,535,000 after acquiring an additional 11,052 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Essential Properties Realty Trust by 31.9% during the first quarter. Truvestments Capital LLC now owns 147,621 shares of the company's stock worth $4,818,000 after acquiring an additional 35,684 shares during the last quarter. Finally, FORA Capital LLC bought a new position in shares of Essential Properties Realty Trust during the first quarter worth about $227,000. Institutional investors own 96.98% of the company's stock.

Insider Activity at Essential Properties Realty Trust

In related news, VP A Joseph Peil sold 13,227 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $32.96, for a total transaction of $435,961.92. Following the transaction, the vice president owned 76,590 shares in the company, valued at $2,524,406.40. This trade represents a 14.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

Essential Properties Realty Trust Price Performance

NYSE EPRT opened at $30.78 on Friday. Essential Properties Realty Trust, Inc. has a 12 month low of $27.44 and a 12 month high of $34.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.67 and a quick ratio of 5.67. The firm has a market capitalization of $6.10 billion, a PE ratio of 26.08, a P/E/G ratio of 2.39 and a beta of 1.08. The company's 50 day simple moving average is $30.93 and its 200 day simple moving average is $31.59.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). Essential Properties Realty Trust had a net margin of 44.48% and a return on equity of 6.20%. The company had revenue of $129.11 million for the quarter, compared to analyst estimates of $131.72 million. During the same quarter in the prior year, the business earned $0.47 EPS. Essential Properties Realty Trust's revenue was up 25.4% compared to the same quarter last year. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. As a group, equities research analysts forecast that Essential Properties Realty Trust, Inc. will post 1.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on EPRT shares. Barclays lowered their price target on shares of 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 price target on shares of Essential Properties Realty Trust from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Finally, Scotiabank upped their price target on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.34.

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.

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