Essential Properties Realty Trust, Inc. (NYSE:EPRT) to Issue $0.31 Quarterly Dividend

Essential Properties Realty Trust, Inc. (NYSE:EPRT) declared a quarterly dividend on Monday, March 9th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.31 per share on Tuesday, April 14th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, March 31st.

Essential Properties Realty Trust has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Essential Properties Realty Trust has a payout ratio of 92.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Essential Properties Realty Trust to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 62.6%.

Essential Properties Realty Trust Price Performance

Shares of NYSE:EPRT traded down $0.29 during trading on Tuesday, hitting $33.87. 35,477 shares of the company’s stock were exchanged, compared to its average volume of 1,939,491. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.53 and a beta of 0.95. The business’s 50-day simple moving average is $31.47 and its 200 day simple moving average is $30.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.37 and a quick ratio of 6.37. Essential Properties Realty Trust has a 52-week low of $27.44 and a 52-week high of $34.73.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC raised its holdings in Essential Properties Realty Trust by 15.3% during the fourth quarter. Corient Private Wealth LLC now owns 16,678 shares of the company’s stock valued at $495,000 after buying an additional 2,215 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Essential Properties Realty Trust by 273.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,614 shares of the company’s stock valued at $48,000 after acquiring an additional 1,182 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in Essential Properties Realty Trust by 20.0% during the fourth quarter. Sit Investment Associates Inc. now owns 26,375 shares of the company’s stock worth $782,000 after acquiring an additional 4,400 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in Essential Properties Realty Trust during the 4th quarter worth approximately $99,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Essential Properties Realty Trust by 8.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 25,954 shares of the company’s stock worth $770,000 after buying an additional 1,962 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

About Essential Properties Realty Trust

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.