London Co. of Virginia Sells 44,655 Shares of Essential Properties Realty Trust, Inc. $EPRT

Key Points

• London Co. of Virginia trimmed its stake in Essential Properties Realty Trust by 4.2% in the fourth quarter, selling 44,655 shares and leaving it with about 1.01 million shares valued at roughly $30.1 million.
• The REIT reported quarterly earnings of $0.28 per share, missing analyst expectations of $0.33, though revenue rose 22.8% year over year to $158.8 million and beat estimates.
• Essential Properties Realty Trust raised its quarterly dividend to $0.32 per share, implying a 4.2% yield, while analysts remain broadly positive with a consensus Buy rating and $36.50 average price target.

London Co. of Virginia decreased its holdings in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,014,490 shares of the company's stock after selling 44,655 shares during the period. London Co. of Virginia owned approximately 0.48% of Essential Properties Realty Trust worth $30,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EPRT. Royal Bank of Canada increased its stake in shares of Essential Properties Realty Trust by 159.4% in the 1st quarter. Royal Bank of Canada now owns 74,147 shares of the company's stock valued at $2,420,000 after purchasing an additional 45,561 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Essential Properties Realty Trust by 21.8% in the 1st quarter. AQR Capital Management LLC now owns 22,244 shares of the company's stock valued at $726,000 after purchasing an additional 3,981 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Essential Properties Realty Trust by 16.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,387,218 shares of the company's stock valued at $45,279,000 after purchasing an additional 195,057 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Essential Properties Realty Trust in the 1st quarter valued at $2,350,000. Finally, First Trust Advisors LP increased its stake in shares of Essential Properties Realty Trust by 28.4% in the 2nd quarter. First Trust Advisors LP now owns 145,784 shares of the company's stock valued at $4,652,000 after purchasing an additional 32,254 shares during the last quarter. Institutional investors own 96.98% of the company's stock.

Insider Transactions at Essential Properties Realty Trust

In other news, CFO Robert Webb Salisbury sold 5,851 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $31.88, for a total transaction of $186,529.88. Following the completion of the transaction, the chief financial officer directly owned 8,310 shares in the company, valued at $264,922.80. This trade represents a 41.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP A Joseph Peil sold 19,657 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $32.10, for a total value of $630,989.70. Following the transaction, the vice president owned 76,525 shares of the company's stock, valued at $2,456,452.50. This trade represents a 20.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.77% of the stock is owned by company insiders.

Essential Properties Realty Trust Trading Up 0.3%

Shares of EPRT stock opened at $30.36 on Wednesday. The firm has a market capitalization of $6.57 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.39 and a beta of 0.88. 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 quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.59. The stock's fifty day simple moving average is $31.28 and its 200 day simple moving average is $31.30.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.05). Essential Properties Realty Trust had a net margin of 43.46% and a return on equity of 6.30%. The company had revenue of $158.80 million during the quarter, compared to analyst estimates of $151.87 million. During the same period in the previous year, the company posted $0.45 EPS. The company's quarterly revenue was up 22.8% on a year-over-year basis. Essential Properties Realty Trust has set its FY 2026 guidance at 2.000-2.050 EPS. As a group, sell-side analysts predict that Essential Properties Realty Trust, Inc. will post 1.97 EPS for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from Essential Properties Realty Trust's previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, June 30th. Essential Properties Realty Trust's dividend payout ratio is 100.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on 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. Barclays boosted their price objective on Essential Properties Realty Trust from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Raymond James Financial upgraded Essential Properties Realty Trust from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $35.00 to $37.00 in a research report on Tuesday, March 17th. Mizuho reduced their price objective on Essential Properties Realty Trust from $37.00 to $34.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Essential Properties Realty Trust in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $36.50.

About Essential Properties Realty Trust

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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