Nuveen LLC Purchases Shares of 1,824,339 Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Key Points

• Nuveen LLC acquired 1,824,339 shares of Essential Properties Realty Trust during the first quarter, valuing the stake at approximately $59.5 million, representing about 0.92% of the company's total shares.
• Analysts have mixed views on the stock, with target price adjustments ranging from $32.00 to $37.00, while the consensus rating remains a "Moderate Buy" with an average price target of $34.90.
• Essential Properties Realty Trust recently declared a quarterly dividend of $0.30 per share, marking an annual yield of 3.9%, albeit with a high payout ratio of 101.69%.

Nuveen LLC bought a new position in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,824,339 shares of the company's stock, valued at approximately $59,546,000. Nuveen LLC owned about 0.92% of Essential Properties Realty Trust at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. LPL Financial LLC grew its position in shares of Essential Properties Realty Trust by 14.1% in the fourth quarter. LPL Financial LLC now owns 26,403 shares of the company's stock valued at $826,000 after purchasing an additional 3,271 shares in the last quarter. Wells Fargo & Company MN grew its position in Essential Properties Realty Trust by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 329,380 shares of the company's stock worth $10,303,000 after buying an additional 20,049 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Essential Properties Realty Trust by 9.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 236,689 shares of the company's stock worth $7,404,000 after buying an additional 20,982 shares in the last quarter. Cerity Partners LLC grew its position in Essential Properties Realty Trust by 52.7% during the fourth quarter. Cerity Partners LLC now owns 17,865 shares of the company's stock worth $575,000 after buying an additional 6,168 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Essential Properties Realty Trust during the fourth quarter worth about $21,438,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP A Joseph Peil sold 13,227 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.77% of the company's stock.

Essential Properties Realty Trust Trading Up 0.3%

EPRT stock traded up $0.10 during trading on Friday, hitting $30.43. 1,633,698 shares of the company traded hands, compared to its average volume of 1,687,245. The firm has a market capitalization of $6.03 billion, a PE ratio of 25.79, a P/E/G ratio of 2.29 and a beta of 1.07. Essential Properties Realty Trust, Inc. has a 1 year low of $27.44 and a 1 year high of $34.88. The company has a 50-day moving average of $31.38 and a 200-day moving average of $31.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.67 and a current ratio of 5.67.

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 for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $129.11 million for the quarter, compared to analysts' expectations of $131.72 million. Essential Properties Realty Trust had a net margin of 44.48% and a return on equity of 6.20%. The company's revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Analysts predict 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. Stockholders of record on Monday, June 30th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is an increase from Essential Properties Realty Trust's previous quarterly dividend of $0.30. Essential Properties Realty Trust's dividend payout ratio is currently 101.69%.

Analyst Ratings Changes

Several equities analysts recently commented on EPRT shares. Barclays reduced their target price on Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Scotiabank upped their price objective on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Truist Financial upped their price objective 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. Finally, UBS Group upped their price objective on Essential Properties Realty Trust from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Essential Properties Realty Trust currently has an average rating of "Moderate Buy" and an average target price of $35.06.

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.