Vestcor Inc Grows Position in Essential Properties Realty Trust, Inc. $EPRT

Key Points

• Vestcor Inc. increased its stake by 68.9% in Essential Properties Realty Trust in Q3, buying 63,303 shares to hold 155,157 shares (about 0.08% of the company) worth $4.62 million.
• Essential Properties declared a quarterly $0.31 dividend (ex-dividend March 31, payable April 14), equal to a $1.24 annualized payout and a 3.6% yield
• Analysts have an average rating of "Moderate Buy" with an average price target of $36.11 (recent open ~$34.16); the company has a $7.17 billion market cap, a P/E of 26.69, and institutional ownership of 96.98%.

Vestcor Inc grew its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 68.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,157 shares of the company's stock after purchasing an additional 63,303 shares during the quarter. Vestcor Inc owned approximately 0.08% of Essential Properties Realty Trust worth $4,617,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EPRT. Twin Peaks Wealth Advisors LLC purchased a new stake in Essential Properties Realty Trust during the second quarter worth $26,000. Salomon & Ludwin LLC purchased a new position in Essential Properties Realty Trust in the third quarter valued at $46,000. Versant Capital Management Inc increased its holdings in Essential Properties Realty Trust by 54.2% in the third quarter. Versant Capital Management Inc now owns 1,867 shares of the company's stock valued at $56,000 after buying an additional 656 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Essential Properties Realty Trust in the third quarter worth about $61,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Essential Properties Realty Trust by 24.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,861 shares of the company's stock worth $85,000 after acquiring an additional 569 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Essential Properties Realty Trust Stock Performance

EPRT opened at $34.16 on Tuesday. The firm's fifty day simple moving average is $31.47 and its two-hundred day simple moving average is $30.82. Essential Properties Realty Trust, Inc. has a 52-week low of $27.44 and a 52-week high of $34.73. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 2.53 and a beta of 0.95. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.60.

Essential Properties Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be paid a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.24 dividend on an annualized basis and a yield of 3.6%. Essential Properties Realty Trust's dividend payout ratio (DPR) is currently 96.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EPRT shares. Mizuho raised their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Wednesday, December 17th. UBS Group upped their price target on Essential Properties Realty Trust from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Monday. Evercore reiterated an "outperform" rating on shares of Essential Properties Realty Trust in a research report on Tuesday, February 17th. Truist Financial set a $37.00 price objective on Essential Properties Realty Trust in a report on Monday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Essential Properties Realty Trust in a research report on Wednesday, January 28th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.11.

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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