Principal Financial Group Inc. Purchases 103,311 Shares of Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Principal Financial Group increased its stake in Essential Properties Realty Trust by 3.9% in the first quarter, buying 103,311 additional shares and bringing its total holdings to 2.77 million shares worth about $84.2 million.
• The REIT reported mixed quarterly results: EPS of $0.28 missed estimates, but revenue of $158.8 million topped expectations and rose 22.8% year over year.
• Essential Properties Realty Trust raised its quarterly dividend to $0.32 per share, giving it an annualized dividend of $1.28 and a yield of 3.9%; analysts currently rate the stock a consensus Buy with an average target price of $36.41.

Principal Financial Group Inc. raised its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,771,898 shares of the company's stock after purchasing an additional 103,311 shares during the quarter. Principal Financial Group Inc. owned 1.28% of Essential Properties Realty Trust worth $84,156,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EPRT. EverSource Wealth Advisors LLC lifted its stake in shares of Essential Properties Realty Trust by 82.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company's stock valued at $27,000 after buying an additional 405 shares in the last quarter. First Horizon Corp increased its stake in Essential Properties Realty Trust by 146.9% in the 4th quarter. First Horizon Corp now owns 1,131 shares of the company's stock worth $34,000 after buying an additional 673 shares in the last quarter. Clearstead Advisors LLC increased its stake in Essential Properties Realty Trust by 664.4% in the 4th quarter. Clearstead Advisors LLC now owns 1,590 shares of the company's stock worth $47,000 after buying an additional 1,382 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Essential Properties Realty Trust by 273.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,614 shares of the company's stock valued at $48,000 after acquiring an additional 1,182 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Essential Properties Realty Trust by 1,009.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,730 shares of the company's stock valued at $51,000 after acquiring an additional 1,574 shares during the period. 96.98% of the stock is currently owned by institutional investors.

Essential Properties Realty Trust Stock Performance

NYSE EPRT opened at $32.88 on Friday. The stock has a market capitalization of $7.11 billion, a PE ratio of 25.89, a P/E/G ratio of 2.47 and a beta of 0.88. The business has a 50 day simple moving average of $30.71 and a two-hundred day simple moving average of $31.31. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.12 and a quick ratio of 5.12. Essential Properties Realty Trust, Inc. has a 1-year low of $28.95 and a 1-year high of $34.73.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.05). Essential Properties Realty Trust had a return on equity of 6.30% and a net margin of 43.46%.The firm had revenue of $158.80 million for the quarter, compared to analysts' expectations of $151.87 million. During the same period last year, the company earned $0.45 earnings per share. The firm's revenue was up 22.8% on a year-over-year basis. Essential Properties Realty Trust has set its FY 2026 guidance at 2.000-2.050 EPS. On average, research analysts predict that Essential Properties Realty Trust, Inc. will post 1.97 EPS for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a $0.32 dividend. This is a boost from Essential Properties Realty Trust's previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.9%. Essential Properties Realty Trust's payout ratio is presently 100.79%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EPRT. Wells Fargo & Company increased their target price on Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Mizuho lowered their price target on Essential Properties Realty Trust from $37.00 to $34.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Scotiabank upgraded Essential Properties Realty Trust from a "sector perform" rating to a "sector outperform" rating and dropped their price target for the stock from $34.00 to $33.00 in a research note on Thursday, June 18th. Weiss Ratings raised shares of Essential Properties Realty Trust from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Finally, Barclays lifted their price objective on shares of Essential Properties Realty Trust from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $36.41.

About Essential Properties Realty Trust

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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