Resona Asset Management Co. Ltd. Has $2.67 Million Holdings in Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Essential Properties Realty Trust by 16.8%, now holding a total of 81,881 shares valued at $2.67 million.
• Essential Properties Realty Trust recently missed earnings estimates, reporting $0.46 EPS for the quarter, compared to analyst expectations of $0.47.
• The company announced a dividend increase to $0.30 per share, reflecting a 3.9% yield and highlighting a payout ratio of 101.69%.

Resona Asset Management Co. Ltd. grew its holdings in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 16.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,881 shares of the company's stock after buying an additional 11,791 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Essential Properties Realty Trust were worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in EPRT. Vanguard Group Inc. increased its holdings in shares of 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 in the last quarter. Invesco Ltd. boosted its holdings in Essential Properties Realty Trust by 51.8% during the first quarter. Invesco Ltd. now owns 7,062,006 shares of the company's stock valued at $230,504,000 after acquiring an additional 2,410,278 shares during the period. Principal Financial Group Inc. boosted its holdings in Essential Properties Realty Trust by 2.9% during the first quarter. Principal Financial Group Inc. now owns 3,035,196 shares of the company's stock valued at $99,069,000 after acquiring an additional 86,244 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Essential Properties Realty Trust by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,017,486 shares of the company's stock valued at $98,491,000 after buying an additional 144,531 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Essential Properties Realty Trust by 19.8% in the fourth quarter. Northern Trust Corp now owns 2,526,025 shares of the company's stock valued at $79,014,000 after buying an additional 417,443 shares during the period. Institutional investors own 96.98% of the company's stock.

Insider Buying and Selling

In other Essential Properties Realty Trust news, VP A Joseph Peil sold 13,227 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $32.96, for a total transaction of $435,961.92. Following the sale, the vice president directly owned 76,590 shares of the company's stock, valued at $2,524,406.40. The trade was a 14.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

EPRT has been the subject of several recent research reports. Barclays dropped their price target on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Truist Financial increased their price target on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. UBS Group boosted their price objective on Essential Properties Realty Trust from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Finally, Scotiabank boosted their price objective on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.15.

Essential Properties Realty Trust Trading Up 0.8%

Shares of EPRT stock traded up $0.2450 on Wednesday, hitting $31.0850. The stock had a trading volume of 1,543,759 shares, compared to its average volume of 1,689,601. Essential Properties Realty Trust, Inc. has a twelve month low of $27.44 and a twelve month high of $34.88. The firm has a market cap of $6.16 billion, a P/E ratio of 26.34, a PEG ratio of 2.35 and a beta of 1.07. 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 fifty day moving average price of $31.28 and a two-hundred day moving average price of $31.62.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $129.11 million during the quarter, compared to the consensus estimate of $131.72 million. Essential Properties Realty Trust had a net margin of 44.48% and a return on equity of 6.20%. The company's revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. As a group, analysts forecast that Essential Properties Realty Trust, Inc. will post 1.83 earnings per share 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 $0.30 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 3.9%. This is an increase from Essential Properties Realty Trust's previous quarterly dividend of $0.30. Essential Properties Realty Trust's payout ratio is presently 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.