Essential Properties Realty Trust, Inc. $EPRT Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 23.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,363 shares of the company’s stock after selling 81,494 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.13% of Essential Properties Realty Trust worth $8,276,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Essential Properties Realty Trust by 51.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 30,653 shares of the company’s stock valued at $994,000 after acquiring an additional 10,420 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Essential Properties Realty Trust by 3.3% in the first quarter. Amalgamated Bank now owns 53,128 shares of the company’s stock valued at $1,734,000 after purchasing an additional 1,693 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Essential Properties Realty Trust by 12.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,532 shares of the company’s stock valued at $4,228,000 after purchasing an additional 14,032 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Essential Properties Realty Trust by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,164,473 shares of the company’s stock valued at $38,008,000 after purchasing an additional 33,903 shares during the last quarter. Finally, Lifestyle Asset Management Inc. acquired a new stake in shares of Essential Properties Realty Trust in the second quarter valued at approximately $274,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on EPRT. Barclays cut their price target on 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Essential Properties Realty Trust in a report on Wednesday, October 8th. Cantor Fitzgerald began coverage on Essential Properties Realty Trust in a report on Wednesday, October 1st. They issued an “overweight” rating and a $35.00 price target for the company. Mizuho cut their price target on Essential Properties Realty Trust from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Finally, UBS Group increased their price objective on Essential Properties Realty Trust from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Essential Properties Realty Trust presently has an average rating of “Moderate Buy” and an average target price of $35.23.

Essential Properties Realty Trust Price Performance

EPRT stock opened at $31.65 on Wednesday. The business has a fifty day moving average of $30.29 and a two-hundred day moving average of $31.12. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 0.60. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. Essential Properties Realty Trust, Inc. has a 52-week low of $27.44 and a 52-week high of $34.88.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 44.48%.The firm had revenue of $129.11 million for the quarter, compared to analysts’ expectations of $131.72 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, research analysts anticipate that Essential Properties Realty Trust, Inc. will post 1.83 earnings per share for the current year.

Essential Properties Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 101.69%.

About Essential Properties Realty Trust

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.