Essential Properties Realty Trust, Inc. (NYSE:EPRT) Holdings Cut by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Essential Properties Realty Trust by 38.2%, selling over 210,000 shares and now holding a total of 340,857 shares valued at approximately $11.1 million.
• The company reported earnings of $0.46 per share for the last quarter, which missed analyst expectations by $0.01, despite a year-over-year revenue increase of 25.4% to $129.11 million.
• Essential Properties Realty Trust has announced a quarterly dividend of $0.30 per share, marking a stable payment from the previous quarter, with an annualized dividend yield of 3.92%.

Allianz Asset Management GmbH cut its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 38.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 340,857 shares of the company's stock after selling 210,605 shares during the period. Allianz Asset Management GmbH owned 0.17% of Essential Properties Realty Trust worth $11,126,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Franchise Capital Ltd purchased a new stake in shares of Essential Properties Realty Trust during the first quarter worth $42,000. Quarry LP grew its holdings in shares of Essential Properties Realty Trust by 439.4% during the fourth quarter. Quarry LP now owns 1,451 shares of the company's stock worth $45,000 after buying an additional 1,182 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Essential Properties Realty Trust during the fourth quarter worth $100,000. Morse Asset Management Inc boosted its position in shares of Essential Properties Realty Trust by 44.6% during the 4th 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. Finally, Archer Investment Corp acquired a new position in shares of Essential Properties Realty Trust during the 1st quarter valued at about $119,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Essential Properties Realty Trust

In other news, VP A Joseph Peil sold 13,227 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $32.96, for a total transaction of $435,961.92. Following the completion of the sale, the vice president directly owned 76,590 shares of the company's stock, valued at $2,524,406.40. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.77% of the company's stock.

Essential Properties Realty Trust Stock Down 2.1%

NYSE EPRT traded down $0.65 on Wednesday, hitting $30.64. 1,581,461 shares of the stock traded hands, compared to its average volume of 1,856,611. The stock has a 50-day moving average of $31.84 and a 200 day moving average of $31.73. Essential Properties Realty Trust, Inc. has a twelve month low of $27.44 and a twelve month high of $34.88. The company has a market capitalization of $6.07 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 0.60.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $129.11 million for the quarter, compared to analyst estimates of $131.72 million. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 44.48%. The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, analysts expect that Essential Properties Realty Trust, Inc. will post 1.83 earnings per share for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were issued a dividend of $0.30 per share. This is a boost from Essential Properties Realty Trust's previous quarterly dividend of $0.30. The ex-dividend date was Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 3.92%. Essential Properties Realty Trust's payout ratio is presently 101.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price objective on Essential Properties Realty Trust from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Scotiabank lifted their price objective on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Barclays decreased their price objective on Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, UBS Group decreased their price objective on Essential Properties Realty Trust from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.90.

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.