OVERSEA CHINESE BANKING Corp Ltd Lowers Position in Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd has decreased its stake in Essential Properties Realty Trust by 33.0%, reducing its holdings to approximately 155,692 shares worth $5,082,000.
• Essential Properties Realty Trust reported $0.46 EPS for the last quarter, missing the consensus estimate by $0.01, but showing a 25.4% revenue growth compared to the same quarter last year.
• The company increased its quarterly dividend to $0.30, representing a dividend yield of 3.9% and a payout ratio of 101.69%.

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 33.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,692 shares of the company's stock after selling 76,817 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned about 0.08% of Essential Properties Realty Trust worth $5,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV boosted its holdings in Essential Properties Realty Trust by 4.3% in the 1st quarter. KBC Group NV now owns 8,085 shares of the company's stock valued at $264,000 after purchasing an additional 335 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Essential Properties Realty Trust by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,778 shares of the company's stock valued at $352,000 after purchasing an additional 419 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Essential Properties Realty Trust by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 18,355 shares of the company's stock valued at $574,000 after purchasing an additional 581 shares during the last quarter. Xponance Inc. grew its position in shares of Essential Properties Realty Trust by 4.8% in the 1st quarter. Xponance Inc. now owns 14,026 shares of the company's stock valued at $458,000 after buying an additional 646 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in shares of Essential Properties Realty Trust by 2.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 27,331 shares of the company's stock valued at $892,000 after buying an additional 772 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company's stock.

Wall Street Analyst Weigh In

EPRT has been the subject of several recent analyst reports. Truist Financial raised their target price on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Scotiabank lifted their price target on shares of 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. UBS Group lowered their target price on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Barclays decreased their price objective on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.90.

Insiders Place Their Bets

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. 0.81% of the stock is currently owned by company insiders.

Essential Properties Realty Trust Price Performance

NYSE EPRT traded down $0.44 during trading on Wednesday, reaching $30.31. The company's stock had a trading volume of 447,957 shares, compared to its average volume of 1,710,664. The firm has a fifty day moving average of $31.74 and a 200 day moving average of $31.72. Essential Properties Realty Trust, Inc. has a one year low of $27.44 and a one year high of $34.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.67 and a quick ratio of 5.67. The stock has a market capitalization of $6.01 billion, a PE ratio of 25.69, a P/E/G ratio of 2.32 and a beta of 1.07.

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). Essential Properties Realty Trust had a net margin of 44.48% and a return on equity of 6.20%. The company had revenue of $129.11 million for the quarter, compared to analysts' expectations of $131.72 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company's revenue was up 25.4% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were given a dividend of $0.30 per share. This is a boost from Essential Properties Realty Trust's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. Essential Properties Realty Trust's dividend payout ratio is 101.69%.

Essential Properties Realty Trust 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.