Vanguard Group Inc. Buys 870,486 Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Key Points

• Vanguard Group Inc. increased its holdings in Essential Properties Realty Trust by 3.2%, owning approximately $912.83 million worth of shares, following an additional purchase of 870,486 shares.
• Essential Properties Realty Trust's stock performance includes a current PE ratio of 25.38 and a market cap of $5.93 billion, with shares fluctuating between a one-year low of $27.44 and a high of $34.88.
• The company recently declared a quarterly dividend of $0.30 per share, maintaining a 4.0% dividend yield, despite a payout ratio exceeding 100%.

Vanguard Group Inc. raised its stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,966,449 shares of the company's stock after buying an additional 870,486 shares during the quarter. Vanguard Group Inc. owned 14.16% of Essential Properties Realty Trust worth $912,825,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EPRT. Franchise Capital Ltd bought a new stake in Essential Properties Realty Trust in the first quarter worth approximately $42,000. Quarry LP grew its position in Essential Properties Realty Trust by 439.4% in the fourth quarter. Quarry LP now owns 1,451 shares of the company's stock worth $45,000 after acquiring an additional 1,182 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Essential Properties Realty Trust in the fourth quarter worth approximately $100,000. Morse Asset Management Inc grew its position in Essential Properties Realty Trust by 44.6% in the fourth quarter. Morse Asset Management Inc now owns 3,325 shares of the company's stock worth $104,000 after acquiring an additional 1,025 shares in the last quarter. Finally, Archer Investment Corp bought a new stake in Essential Properties Realty Trust in the first quarter worth approximately $119,000. Institutional investors and hedge funds own 96.98% of the company's stock.

Insider Activity

In related news, VP A Joseph Peil sold 13,227 shares of the 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 completion of the sale, the vice president owned 76,590 shares in the company, valued at $2,524,406.40. This trade represents a 14.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.77% of the stock is owned by company insiders.

Essential Properties Realty Trust Price Performance

Shares of EPRT stock traded up $0.29 during mid-day trading on Friday, reaching $30.62. The company's stock had a trading volume of 503,358 shares, compared to its average volume of 1,690,844. Essential Properties Realty Trust, Inc. has a 1-year low of $27.44 and a 1-year high of $34.88. The company has a market cap of $6.07 billion, a P/E ratio of 25.94, a PEG ratio of 2.29 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.67 and a current ratio of 5.67. The firm's 50-day moving average is $31.42 and its two-hundred day moving average is $31.65.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $131.72 million. During the same quarter in the prior year, the company posted $0.47 EPS. The company's quarterly revenue was up 25.4% compared to the same quarter last year. On average, research analysts predict that Essential Properties Realty Trust, Inc. will post 1.83 earnings per share for the current year.

Essential Properties Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were given a dividend of $0.30 per share. This is an increase from Essential Properties Realty Trust's previous quarterly dividend of $0.30. The ex-dividend date was Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. Essential Properties Realty Trust's dividend payout ratio is 101.69%.

Analysts Set New Price Targets

EPRT has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Essential Properties Realty Trust from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Scotiabank upped their price objective on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. UBS Group upped their price objective on shares of Essential Properties Realty Trust from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Friday. Finally, Truist Financial upped their target price on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.06.

Essential Properties Realty Trust Profile

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.