Meritage Portfolio Management Boosts Stock Position in Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Meritage Portfolio Management raised its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 44.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,909 shares of the company's stock after purchasing an additional 73,994 shares during the period. Meritage Portfolio Management owned about 0.12% of Essential Properties Realty Trust worth $7,798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of EPRT. Crowley Wealth Management Inc. bought a new position in shares of Essential Properties Realty Trust in the 4th quarter worth $28,000. Jones Financial Companies Lllp raised its position in shares of Essential Properties Realty Trust by 1,834.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,180 shares of the company's stock worth $37,000 after acquiring an additional 1,119 shares in the last quarter. Franchise Capital Ltd bought a new position in shares of Essential Properties Realty Trust in the 1st quarter worth $42,000. Quarry LP raised its position in shares of Essential Properties Realty Trust by 439.4% in the 4th quarter. Quarry LP now owns 1,451 shares of the company's stock worth $45,000 after acquiring an additional 1,182 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Essential Properties Realty Trust by 275.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,456 shares of the company's stock worth $77,000 after acquiring an additional 1,802 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

Essential Properties Realty Trust Stock Up 0.7%

EPRT stock traded up $0.22 on Friday, hitting $32.05. 1,186,668 shares of the company's stock were exchanged, compared to its average volume of 1,470,936. Essential Properties Realty Trust, Inc. has a 12-month low of $27.44 and a 12-month high of $34.88. The firm has a 50 day moving average price of $32.19 and a two-hundred day moving average price of $31.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.76 and a current ratio of 7.76. The stock has a market cap of $6.33 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 2.43 and a beta of 1.08.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). The business 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 6.13% and a net margin of 44.62%. The firm's quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, equities research analysts expect that Essential Properties Realty Trust, Inc. will post 1.83 EPS for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.74%. The ex-dividend date is Monday, June 30th. This is an increase from Essential Properties Realty Trust's previous quarterly dividend of $0.30. Essential Properties Realty Trust's payout ratio is presently 104.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Scotiabank boosted their price target on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Truist Financial boosted their price target on Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. UBS Group reduced their price target on Essential Properties Realty Trust from $40.00 to $37.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Barclays reissued an "overweight" rating and issued a $37.00 price target (up from $35.00) on shares of Essential Properties Realty Trust in a research report on Wednesday, May 21st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.06.

Insiders Place Their Bets

In other Essential Properties Realty Trust news, VP A Joseph Peil sold 13,227 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $32.96, for a total transaction of $435,961.92. Following the sale, the vice president owned 76,590 shares in the company, valued at approximately $2,524,406.40. The trade was a 14.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company's stock.

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.