PGGM Investments Decreases Stock Holdings in Essential Properties Realty Trust, Inc. $EPRT

Key Points

• PGGM Investments reduced its stake in Essential Properties Realty Trust by 4.6%, owning 2,740,968 shares after selling 131,936 shares during the second quarter, making it the 25th largest position in its portfolio.
• Several other hedge funds, including Invesco Ltd. and Alyeska Investment Group, have increased their stakes in Essential Properties Realty Trust, highlighting significant interest from institutional investors.
• Essential Properties Realty Trust announced a quarterly dividend of $0.30 per share, with an annualized yield of 4.0%, despite having a dividend payout ratio of 101.69%.

PGGM Investments reduced its stake in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,740,968 shares of the company's stock after selling 131,936 shares during the quarter. Essential Properties Realty Trust makes up 1.5% of PGGM Investments' holdings, making the stock its 25th largest position. PGGM Investments owned 1.39% of Essential Properties Realty Trust worth $87,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in EPRT. Invesco Ltd. lifted its stake in shares of Essential Properties Realty Trust by 51.8% during the 1st quarter. Invesco Ltd. now owns 7,062,006 shares of the company's stock worth $230,504,000 after purchasing an additional 2,410,278 shares during the last quarter. Nuveen LLC purchased a new stake in Essential Properties Realty Trust in the first quarter valued at about $59,546,000. Alyeska Investment Group L.P. raised its stake in Essential Properties Realty Trust by 66.1% in the first quarter. Alyeska Investment Group L.P. now owns 2,959,948 shares of the company's stock valued at $96,613,000 after buying an additional 1,178,238 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Essential Properties Realty Trust in the first quarter valued at about $37,224,000. Finally, Vanguard Group Inc. raised its stake in Essential Properties Realty Trust by 3.2% in the first quarter. Vanguard Group Inc. now owns 27,966,449 shares of the company's stock valued at $912,825,000 after buying an additional 870,486 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EPRT has been the subject of a number of research analyst reports. UBS Group increased their price target on Essential Properties Realty Trust from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Barclays decreased their price target on 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. Evercore ISI upgraded Essential Properties Realty Trust from an "in-line" rating to an "outperform" rating and increased their price target for the company from $34.00 to $36.00 in a research note on Monday, September 15th. Stifel Nicolaus decreased their price target on Essential Properties Realty Trust from $36.00 to $35.50 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Finally, Mizuho decreased their price target on Essential Properties Realty Trust from $35.00 to $32.00 and set an "outperform" rating for the company in a research note on Thursday, September 11th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.18.

Essential Properties Realty Trust Price Performance

Shares of NYSE:EPRT opened at $29.79 on Wednesday. Essential Properties Realty Trust, Inc. has a twelve month low of $27.44 and a twelve month high of $34.88. The company's 50 day moving average is $30.43 and its 200 day moving average is $31.34. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 0.60. The company has a market cap of $5.90 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 2.24 and a beta of 1.08.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its quarterly 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 business had revenue of $129.11 million during the quarter, compared to analyst estimates of $131.72 million. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 44.48%.Essential Properties Realty Trust's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. On average, sell-side analysts forecast that Essential Properties Realty Trust, Inc. will post 1.83 EPS for the current year.

Essential Properties Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Essential Properties Realty Trust's dividend payout ratio (DPR) is 101.69%.

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.

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