OVERSEA CHINESE BANKING Corp Ltd Buys 43,100 Shares of Essential Properties Realty Trust, Inc. $EPRT

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Essential Properties Realty Trust by 40.7%, buying 43,100 shares to hold 149,105 shares (about 0.08%) valued at roughly $4.42 million.
• Essential Properties declared a quarterly dividend of $0.31 (annualized $1.24) for a yield of 3.8%, while the company trades with a market cap of $6.94 billion and a P/E of 25.77; its one-year trading range is $28.95–$34.73.
• Institutional ownership is very high at about 96.98% (insiders own 0.77%), two executives recently sold shares, and analysts show a consensus "Buy" rating with an average target of $36.90 (several firms have raised targets, UBS to $40).

OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 40.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 149,105 shares of the company's stock after acquiring an additional 43,100 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned about 0.08% of Essential Properties Realty Trust worth $4,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its position in shares of Essential Properties Realty Trust by 8.2% during the 2nd quarter. State Street Corp now owns 11,131,871 shares of the company's stock valued at $358,488,000 after acquiring an additional 843,877 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Essential Properties Realty Trust by 195.4% during the 3rd quarter. Balyasny Asset Management L.P. now owns 3,970,789 shares of the company's stock valued at $118,171,000 after buying an additional 2,626,478 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Essential Properties Realty Trust by 59.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,803,496 shares of the company's stock valued at $112,812,000 after buying an additional 1,425,082 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Essential Properties Realty Trust by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,940,571 shares of the company's stock valued at $87,510,000 after buying an additional 98,463 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Essential Properties Realty Trust by 22.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,934,243 shares of the company's stock valued at $87,323,000 after buying an additional 542,275 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

Essential Properties Realty Trust Stock Down 1.0%

Shares of NYSE:EPRT opened at $32.98 on Wednesday. The firm has a fifty day moving average price of $32.48 and a two-hundred day moving average price of $31.19. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.37 and a quick ratio of 6.37. Essential Properties Realty Trust, Inc. has a one year low of $28.95 and a one year high of $34.73. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 2.91 and a beta of 0.99.

Essential Properties Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. Essential Properties Realty Trust's dividend payout ratio (DPR) is presently 96.88%.

Insider Buying and Selling at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, VP A Joseph Peil sold 19,657 shares of the firm's stock in a transaction on Friday, March 20th. The shares were sold at an average price of $32.10, for a total value of $630,989.70. Following the completion of the transaction, the vice president directly owned 76,525 shares of the company's stock, valued at $2,456,452.50. This trade represents a 20.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Webb Salisbury sold 5,851 shares of the firm's stock in a transaction on Friday, March 20th. The shares were 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 of the company's stock, valued at approximately $264,922.80. The trade was a 41.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Truist Financial upped their price target on shares of Essential Properties Realty Trust from $34.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, March 9th. UBS Group upped their price target on shares of 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. Weiss Ratings restated a "buy (b-)" rating on shares of Essential Properties Realty Trust in a research note on Wednesday, January 28th. Mizuho upped their price target on shares of Essential Properties Realty Trust from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Wednesday, March 11th. Finally, Scotiabank upped their price target on shares of Essential Properties Realty Trust from $34.00 to $35.00 and gave the company a "sector perform" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Essential Properties Realty Trust presently has a consensus rating of "Buy" and an average target price of $36.90.

Essential Properties Realty Trust Company Profile

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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