Essential Properties Realty Trust, Inc. $EPRT Shares Acquired by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. MA boosted its stake in Essential Properties Realty Trust (EPRT) by 59.9% in Q4, buying 1,425,082 shares to hold 3,803,496 shares (about 1.92% of the company) valued at roughly $112.8 million.
• Company insiders trimmed positions: VP A. Joseph Peil sold 19,657 shares at $32.10 (a 20.44% reduction) and CFO Robert Webb Salisbury sold 5,851 shares at $31.88 (a 41.32% reduction); insiders now own 0.77% of the stock.
• Essential Properties declared a quarterly dividend of $0.31 per share (annualized $1.24), with a yield of ~3.9% and a high payout ratio of 96.88%; the record/ex-dividend date was March 31 and the payment date is April 14.

Massachusetts Financial Services Co. MA increased its position in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 59.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,803,496 shares of the company's stock after acquiring an additional 1,425,082 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.92% of Essential Properties Realty Trust worth $112,812,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Essential Properties Realty Trust by 11.9% in the 4th quarter. Signaturefd LLC now owns 4,110 shares of the company's stock worth $122,000 after acquiring an additional 436 shares during the period. M&G PLC increased its holdings in shares of Essential Properties Realty Trust by 8.2% in the 3rd quarter. M&G PLC now owns 6,776 shares of the company's stock worth $203,000 after acquiring an additional 514 shares during the period. Smartleaf Asset Management LLC increased its stake in Essential Properties Realty Trust by 24.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,861 shares of the company's stock valued at $85,000 after buying an additional 569 shares during the period. Lazard Asset Management LLC increased its stake in Essential Properties Realty Trust by 1.4% during the 2nd quarter. Lazard Asset Management LLC now owns 43,461 shares of the company's stock valued at $1,386,000 after buying an additional 598 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in Essential Properties Realty Trust by 7.4% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,144 shares of the company's stock valued at $292,000 after buying an additional 632 shares during the period. Institutional investors and hedge funds own 96.98% of the company's stock.

Insider Activity

In other news, VP A Joseph Peil sold 19,657 shares of the firm's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $32.10, for a total transaction of $630,989.70. Following the completion of the transaction, the vice president owned 76,525 shares in the company, valued at approximately $2,456,452.50. This trade represents a 20.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert Webb Salisbury sold 5,851 shares of the firm's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $31.88, for a total transaction of $186,529.88. Following the transaction, the chief financial officer owned 8,310 shares of the company's stock, valued at approximately $264,922.80. This trade represents a 41.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.77% of the company's stock.

Analyst Ratings Changes

EPRT has been the topic of several research analyst reports. Wall Street Zen cut shares of Essential Properties Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Raymond James Financial raised shares of Essential Properties Realty Trust from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $35.00 to $37.00 in a research note on Tuesday, March 17th. UBS Group raised their target price on shares of Essential Properties Realty Trust from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, March 9th. Evercore reissued an "outperform" rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Finally, Mizuho raised their target price on shares of Essential Properties Realty Trust from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $36.60.

Essential Properties Realty Trust Stock Performance

NYSE:EPRT opened at $32.11 on Tuesday. Essential Properties Realty Trust, Inc. has a twelve month low of $28.95 and a twelve month high of $34.73. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $32.30 and a 200-day moving average of $31.06. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99.

Essential Properties Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.24 annualized dividend and a dividend yield of 3.9%. Essential Properties Realty Trust's dividend payout ratio (DPR) is 96.88%.

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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