Raymond James Financial Inc. Sells 68,111 Shares of Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Raymond James Financial Inc. reduced its stake in Essential Properties Realty Trust by 9.9%, now holding approximately 0.31% of the company, worth about $20.15 million.
• The company recently declared a quarterly dividend of $0.30 per share, representing an annualized yield of 3.9%, which reflects a boost from its previous dividend.
• Essential Properties Realty Trust's stock opened at $31.14, with a market cap of $6.17 billion, missing quarterly earnings expectations by $0.01 per share.

Raymond James Financial Inc. decreased its holdings in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 617,248 shares of the company's stock after selling 68,111 shares during the quarter. Raymond James Financial Inc. owned about 0.31% of Essential Properties Realty Trust worth $20,147,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EPRT. Franchise Capital Ltd bought a new position in Essential Properties Realty Trust during the first quarter valued at $42,000. Quarry LP increased its position in Essential Properties Realty Trust by 439.4% during the fourth quarter. Quarry LP now owns 1,451 shares of the company's stock valued at $45,000 after acquiring an additional 1,182 shares during the last quarter. Headlands Technologies LLC bought a new position in Essential Properties Realty Trust during the first quarter valued at $80,000. GF Fund Management CO. LTD. bought a new position in Essential Properties Realty Trust during the fourth quarter valued at $100,000. Finally, Morse Asset Management Inc increased its position in Essential Properties Realty Trust by 44.6% during the fourth quarter. Morse Asset Management Inc now owns 3,325 shares of the company's stock valued at $104,000 after acquiring an additional 1,025 shares during the last quarter. Institutional investors own 96.98% of the company's stock.

Essential Properties Realty Trust Trading Up 0.7%

Shares of NYSE EPRT traded up $0.22 during mid-day trading on Monday, reaching $31.31. The company had a trading volume of 1,012,856 shares, compared to its average volume of 1,273,791. The business's 50-day moving average is $31.04 and its 200-day moving average is $31.61. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 0.60. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 2.43 and a beta of 1.08. Essential Properties Realty Trust, Inc. has a 52 week low of $27.44 and a 52 week high of $34.88.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 44.48%.The business had revenue of $129.11 million for the quarter, compared to the consensus estimate of $131.72 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. The firm's revenue was up 25.4% on a year-over-year basis. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. Equities analysts expect that Essential Properties Realty Trust, Inc. will post 1.83 earnings per share for the current year.

Insider Transactions at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, VP A Joseph Peil sold 13,227 shares of the stock in a transaction dated 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 directly owned 76,590 shares in the company, valued at $2,524,406.40. This represents a 14.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EPRT shares. UBS Group boosted their price objective on shares of Essential Properties Realty Trust from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Barclays cut their price objective on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Scotiabank boosted their price objective on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, Truist Financial upped their price target on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.34.

Essential Properties Realty Trust 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.