Essential Properties Realty Trust (NYSE:EPRT) Sees Strong Trading Volume – What’s Next?

Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) saw strong trading volume on Wednesday . 3,939,790 shares were traded during trading, an increase of 117% from the previous session’s volume of 1,817,411 shares.The stock last traded at $32.1950 and had previously closed at $32.69.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EPRT. Mizuho upped their price objective on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Barclays reaffirmed an “overweight” rating and issued a $37.00 price target on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a research note on Tuesday. Stifel Nicolaus set a $36.00 target price on shares of Essential Properties Realty Trust in a research report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Essential Properties Realty Trust in a report on Wednesday, January 28th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.45.

Essential Properties Realty Trust Stock Down 1.0%

The business has a 50 day moving average of $30.50 and a two-hundred day moving average of $30.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.37 and a current ratio of 6.37. The stock has a market capitalization of $6.79 billion, a PE ratio of 25.29, a PEG ratio of 2.04 and a beta of 0.99.

Essential Properties Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were paid 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 annualized dividend and a dividend yield of 3.8%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 96.88%.

Institutional Trading of Essential Properties Realty Trust

A number of institutional investors have recently made changes to their positions in EPRT. Cohen & Steers Inc. raised its stake in Essential Properties Realty Trust by 111.6% in the fourth quarter. Cohen & Steers Inc. now owns 18,611,967 shares of the company’s stock valued at $552,031,000 after buying an additional 9,816,042 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Essential Properties Realty Trust by 1,930,360.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,737,308 shares of the company’s stock worth $199,829,000 after buying an additional 6,736,959 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Essential Properties Realty Trust by 4,681.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,997,593 shares of the company’s stock worth $118,569,000 after buying an additional 3,913,986 shares during the period. Norges Bank purchased a new stake in shares of Essential Properties Realty Trust during the second quarter valued at $84,188,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Essential Properties Realty Trust by 195.4% in the 3rd quarter. Balyasny Asset Management L.P. now owns 3,970,789 shares of the company’s stock valued at $118,171,000 after acquiring an additional 2,626,478 shares during the period. Institutional investors and hedge funds 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.