Essential Properties Realty Trust (NYSE:EPRT) Sees Large Volume Increase - Here's Why

Key Points

• Trading volume surged 235% to 7.11 million shares, while EPRT shares traded at $26.595, below the prior close of $26.85.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $32.96; individual targets range from $30 to $37.
• The company reported mixed quarterly results: revenue rose 15.5% year over year to $168.67 million and exceeded estimates, but EPS of $0.27 missed expectations. EPRT also paid a $0.32 quarterly dividend, representing a 4.8% yield.

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT - Get Free Report) saw an uptick in trading volume on Wednesday. 7,111,746 shares changed hands during trading, an increase of 235% from the average daily volume of 2,125,597 shares. The stock last traded at $26.5950 and had previously closed at $26.85.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore reiterated an "outperform" rating and set a $37.00 price target on shares of Essential Properties Realty Trust in a report on Monday, September 21st. Citigroup lowered their target price on Essential Properties Realty Trust from $36.00 to $30.00 and set a "buy" rating for the company in a report on Monday. Cantor Fitzgerald lifted their price target on Essential Properties Realty Trust from $36.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Truist Financial started coverage on Essential Properties Realty Trust in a research note on Thursday, October 1st. They issued a "buy" rating and a $31.00 price objective for the company. Finally, Scotiabank dropped their price objective on shares of Essential Properties Realty Trust from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Essential Properties Realty Trust has a consensus rating of "Moderate Buy" and a consensus price target of $32.96.

Essential Properties Realty Trust Stock Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 4.94 and a quick ratio of 4.94. The stock has a fifty day simple moving average of $27.68 and a two-hundred day simple moving average of $30.50. The firm has a market capitalization of $5.83 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.51 and a beta of 0.82.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). Essential Properties Realty Trust had a return on equity of 5.95% and a net margin of 41.03%. The company had revenue of $168.67 million for the quarter, compared to analyst estimates of $158.17 million. During the same period last year, the business earned $0.48 EPS. The business's quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts predict that Essential Properties Realty Trust, Inc. will post 1.96 EPS for the current year.

Essential Properties Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.32 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.28 annualized dividend and a yield of 4.8%. Essential Properties Realty Trust's dividend payout ratio is presently 104.07%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Choreo LLC increased its holdings in shares of Essential Properties Realty Trust by 70.2% in the third quarter. Choreo LLC now owns 14,795 shares of the company's stock worth $382,000 after purchasing an additional 6,100 shares during the period. Asset Management One Co. Ltd. increased its stake in Essential Properties Realty Trust by 7.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 428,894 shares of the company's stock worth $11,070,000 after acquiring an additional 28,692 shares during the last quarter. Signaturefd LLC raised its stake in Essential Properties Realty Trust by 57.3% in the third quarter. Signaturefd LLC now owns 8,419 shares of the company's stock valued at $217,000 after purchasing an additional 3,068 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Essential Properties Realty Trust by 12.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,588 shares of the company's stock valued at $1,409,000 after purchasing an additional 6,063 shares during the last quarter. Finally, Jeppson Wealth Management LLC bought a new stake in Essential Properties Realty Trust during the third quarter valued at approximately $250,000. Institutional investors own 96.98% of the company's stock.

Essential Properties Realty Trust Company Profile

Essential Properties Realty Trust, Inc NYSE: EPRT is an internally managed real estate investment trust that acquires, owns and manages single-tenant commercial properties. The company primarily leases these properties to middle-market businesses under long-term, net lease agreements, which generally require tenants to pay a substantial portion of the property's operating expenses, including taxes, insurance and maintenance.

EPRT's portfolio is diversified across businesses such as automotive services, medical services, restaurants, retail, early childhood education and other service-oriented industries.

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