Essential Properties Realty Trust (NYSE:EPRT) Hits New 52-Week High – What’s Next?

Essential Properties Realty Trust, Inc. (NYSE:EPRT) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $33.35 and last traded at $33.2060, with a volume of 1052840 shares changing hands. The stock had previously closed at $33.11.

Wall Street Analyst Weigh In

EPRT has been the subject of several analyst reports. Barclays restated an “overweight” rating and set a $37.00 price target on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Essential Properties Realty Trust in a report on Wednesday, January 28th. Mizuho increased their price target on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a research report on Tuesday, February 17th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Essential Properties Realty Trust Stock Up 0.3%

The company has a debt-to-equity ratio of 0.60, a current ratio of 6.37 and a quick ratio of 6.37. The firm’s 50-day moving average price is $30.66 and its 200 day moving average price is $30.56. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 2.40 and a beta of 0.99.

Essential Properties Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.31 per share. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, December 31st. This represents a $1.24 dividend on an annualized basis and a yield of 3.7%. Essential Properties Realty Trust’s payout ratio is currently 96.88%.

Institutional Trading of Essential Properties Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Essential Properties Realty Trust by 8.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,284,712 shares of the company’s stock worth $104,815,000 after purchasing an additional 267,226 shares in the last quarter. AlphaQuest LLC purchased a new position in Essential Properties Realty Trust during the third quarter valued at $1,242,000. Exchange Traded Concepts LLC grew its holdings in Essential Properties Realty Trust by 139.6% during the third quarter. Exchange Traded Concepts LLC now owns 118,698 shares of the company’s stock valued at $3,532,000 after purchasing an additional 69,157 shares during the period. Allworth Financial LP increased its position in Essential Properties Realty Trust by 2,890.8% in the second quarter. Allworth Financial LP now owns 22,192 shares of the company’s stock worth $708,000 after buying an additional 21,450 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Essential Properties Realty Trust by 5.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,378,414 shares of the company’s stock worth $70,782,000 after buying an additional 115,567 shares in 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.