Essential Properties Realty Trust, Inc. (NYSE:EPRT) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management cut its stake in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 2.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 164,915 shares of the company’s stock after selling 3,519 shares during the period. Meritage Portfolio Management’s holdings in Essential Properties Realty Trust were worth $5,159,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Duff & Phelps Investment Management Co. bought a new stake in shares of Essential Properties Realty Trust in the third quarter worth $69,473,000. Adelante Capital Management LLC grew its position in Essential Properties Realty Trust by 3,964.9% in the 3rd quarter. Adelante Capital Management LLC now owns 1,111,634 shares of the company’s stock worth $37,962,000 after purchasing an additional 1,084,287 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Essential Properties Realty Trust by 434.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,086,529 shares of the company’s stock valued at $37,105,000 after acquiring an additional 883,053 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Essential Properties Realty Trust by 33.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,503,405 shares of the company’s stock worth $85,491,000 after purchasing an additional 621,445 shares during the period. Finally, Bank of Montreal Can lifted its position in Essential Properties Realty Trust by 840.9% in the third quarter. Bank of Montreal Can now owns 622,034 shares of the company’s stock worth $21,242,000 after purchasing an additional 555,926 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Trading Down 0.7 %

Shares of NYSE:EPRT opened at $31.59 on Wednesday. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $5.54 billion, a PE ratio of 27.47, a P/E/G ratio of 2.94 and a beta of 1.40. Essential Properties Realty Trust, Inc. has a 1 year low of $23.58 and a 1 year high of $34.88. The firm has a fifty day moving average price of $32.00 and a 200 day moving average price of $32.08.

Essential Properties Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.295 per share. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.74%. Essential Properties Realty Trust’s dividend payout ratio is currently 102.61%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EPRT. Scotiabank lifted their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Barclays dropped their price target on Essential Properties Realty Trust from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on Essential Properties Realty Trust in a research note on Wednesday, December 11th. They set a “buy” rating and a $38.00 price objective for the company. Wells Fargo & Company cut their target price on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, UBS Group increased their price target on Essential Properties Realty Trust from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.85.

Essential Properties Realty Trust Company 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.