Readystate Asset Management LP Invests $4.60 Million in Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Readystate Asset Management initiated a $4.60 million position in Essential Properties Realty Trust, purchasing 154,206 shares, while institutional investors collectively own 96.98% of the REIT.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and a $36.20 price target; recent target changes ranged from $33 to $37.
• Essential Properties exceeded quarterly expectations, reporting $0.34 in EPS and $161.89 million in revenue, up 18.1% year over year. However, COO Robert Jenkins sold 22,000 shares for approximately $708,840.

Readystate Asset Management LP bought a new stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 154,206 shares of the company's stock, valued at approximately $4,603,000. Readystate Asset Management LP owned approximately 0.07% of Essential Properties Realty Trust as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Vanderbilt University raised its position in Essential Properties Realty Trust by 0.9% in the 1st quarter. Vanderbilt University now owns 36,078 shares of the company's stock valued at $1,095,000 after buying an additional 315 shares during the last quarter. Lido Advisors LLC grew its stake in shares of Essential Properties Realty Trust by 3.7% in the 4th quarter. Lido Advisors LLC now owns 9,714 shares of the company's stock worth $292,000 after acquiring an additional 346 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Essential Properties Realty Trust by 82.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company's stock worth $27,000 after acquiring an additional 405 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Essential Properties Realty Trust by 47.8% in the first quarter. Assetmark Inc. now owns 1,339 shares of the company's stock valued at $41,000 after purchasing an additional 433 shares during the last quarter. Finally, GSI Capital Advisors LLC raised its holdings in shares of Essential Properties Realty Trust by 0.3% in the fourth quarter. GSI Capital Advisors LLC now owns 147,682 shares of the company's stock valued at $4,380,000 after purchasing an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company's stock.

Analysts Set New Price Targets

EPRT has been the topic of several analyst reports. Wall Street Zen upgraded shares of Essential Properties Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company lifted their target price on shares of 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. Weiss Ratings lowered Essential Properties Realty Trust from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Scotiabank raised Essential Properties Realty Trust from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the company from $34.00 to $33.00 in a research report on Thursday, June 18th. Finally, Barclays dropped their price target on Essential Properties Realty Trust from $40.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $36.20.

Essential Properties Realty Trust Price Performance

EPRT stock opened at $29.66 on Monday. The firm has a 50 day moving average of $31.12 and a 200-day moving average of $31.46. The firm has a market capitalization of $6.41 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 2.40 and a beta of 0.85. Essential Properties Realty Trust, Inc. has a 12 month low of $28.95 and a 12 month high of $34.73. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.65.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Essential Properties Realty Trust had a return on equity of 6.34% and a net margin of 43.51%.The business had revenue of $161.89 million during the quarter, compared to analysts' expectations of $156.65 million. During the same period in the previous year, the business earned $0.46 earnings per share. The firm's revenue was up 18.1% on a year-over-year basis. Essential Properties Realty Trust has set its FY 2026 guidance at 2.010-2.050 EPS. As a group, sell-side analysts predict that Essential Properties Realty Trust, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Essential Properties Realty Trust

In related news, COO Robert M. Jenkins sold 22,000 shares of the firm's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $32.22, for a total transaction of $708,840.00. Following the transaction, the chief operating officer directly owned 34,168 shares of the company's stock, valued at approximately $1,100,892.96. This trade represents a 39.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.77% of the company's stock.

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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