State of Alaska Department of Revenue Raises Holdings in Essential Properties Realty Trust, Inc. $EPRT

Key Points

• The State of Alaska Department of Revenue increased its holdings in Essential Properties Realty Trust by 13.0% in Q2, owning a total of 213,749 shares worth approximately $6.82 million.
• Essential Properties Realty Trust declared a quarterly dividend of $0.30 per share, representing a yield of 4.0% with a payout ratio of 101.69%.
• The company reported Q2 earnings of $0.46 EPS, missing estimates, while revenue increased 25.4% year-over-year to $129.11 million.

State of Alaska Department of Revenue grew its position in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 13.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 213,749 shares of the company's stock after buying an additional 24,654 shares during the quarter. State of Alaska Department of Revenue owned 0.11% of Essential Properties Realty Trust worth $6,818,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. TD Private Client Wealth LLC purchased a new stake in shares of Essential Properties Realty Trust in the 2nd quarter worth $25,000. Headlands Technologies LLC bought a new position in shares of Essential Properties Realty Trust in the 1st quarter worth $80,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Essential Properties Realty Trust in the 1st quarter worth $92,000. Archer Investment Corp bought a new position in shares of Essential Properties Realty Trust in the 1st quarter worth $119,000. Finally, GAMMA Investing LLC raised its position in shares of Essential Properties Realty Trust by 21.5% in the 2nd quarter. GAMMA Investing LLC now owns 5,003 shares of the company's stock worth $160,000 after acquiring an additional 885 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Trading Up 1.0%

Shares of NYSE:EPRT opened at $29.75 on Monday. The business's 50-day moving average is $30.47 and its 200 day moving average is $31.36. Essential Properties Realty Trust, Inc. has a 1 year low of $27.44 and a 1 year high of $34.88. The firm has a market capitalization of $5.89 billion, a P/E ratio of 25.21, a P/E/G ratio of 2.25 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.67 and a quick ratio of 5.67.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.46 earnings per share (EPS) 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 business had revenue of $129.11 million for the quarter, compared to analyst estimates of $131.72 million. During the same period in the prior year, the company earned $0.47 earnings per share. The company's quarterly revenue was up 25.4% on a year-over-year basis. Essential Properties Realty Trust has set its FY 2025 guidance at 1.860-1.890 EPS. On average, research analysts predict that Essential Properties Realty Trust, Inc. will post 1.83 earnings per share for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Essential Properties Realty Trust's payout ratio is presently 101.69%.

Analyst Ratings Changes

Several research analysts have recently commented on EPRT shares. Mizuho reduced 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 report on Thursday, September 11th. UBS Group boosted their price target on Essential Properties Realty Trust from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Stifel Nicolaus reduced 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 report on Wednesday, September 17th. Evercore ISI raised Essential Properties Realty Trust from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $34.00 to $36.00 in a research report on Monday, September 15th. Finally, Barclays reduced 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 report on Monday, July 21st. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Essential Properties Realty Trust presently has an average rating of "Moderate Buy" and a consensus target price of $35.18.

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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