Essential Properties Realty Trust, Inc. (NYSE:EPRT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 531,014 shares of the company's stock after selling 12,641 shares during the quarter. Rhumbline Advisers owned 0.27% of Essential Properties Realty Trust worth $17,332,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new stake in shares of Essential Properties Realty Trust during the fourth quarter worth $28,000. Jones Financial Companies Lllp lifted its holdings in shares of Essential Properties Realty Trust by 1,834.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,180 shares of the company's stock worth $37,000 after purchasing an additional 1,119 shares during the period. Franchise Capital Ltd acquired a new stake in shares of Essential Properties Realty Trust during the first quarter worth $42,000. Quarry LP lifted 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 purchasing an additional 1,182 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Essential Properties Realty Trust by 275.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,456 shares of the company's stock worth $77,000 after purchasing an additional 1,802 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on EPRT. Truist Financial increased their price target on Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays reissued an "overweight" rating and issued a $37.00 target price (up previously from $35.00) on shares of Essential Properties Realty Trust in a report on Wednesday, May 21st. UBS Group reduced their target price on Essential Properties Realty Trust from $40.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Scotiabank raised their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Finally, B. Riley downgraded Essential Properties Realty Trust from a "buy" rating to a "neutral" rating and raised their target price for the company from $29.50 to $33.50 in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $34.91.

Essential Properties Realty Trust Trading Up 0.7%

Shares of EPRT stock opened at $32.51 on Friday. Essential Properties Realty Trust, Inc. has a fifty-two week low of $26.75 and a fifty-two week high of $34.88. The stock has a market cap of $6.42 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.90 and a beta of 1.10. The business has a fifty day simple moving average of $31.68 and a 200-day simple moving average of $31.91. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.59.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). The company had revenue of $129.35 million for the quarter, compared to analysts' expectations of $124.88 million. Essential Properties Realty Trust had a return on equity of 6.12% and a net margin of 45.15%. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Monday, June 30th. This is a boost from Essential Properties Realty Trust's previous quarterly dividend of $0.30. Essential Properties Realty Trust's dividend payout ratio (DPR) is currently 104.35%.

About Essential Properties Realty Trust

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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