Longboard Asset Management LP Invests $204,000 in Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Longboard Asset Management LP bought a new position in Essential Properties Realty Trust, Inc. (NYSE:EPRT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,241 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC increased its position in shares of Essential Properties Realty Trust by 37.4% in the 4th quarter. Barclays PLC now owns 409,365 shares of the company’s stock worth $12,805,000 after purchasing an additional 111,376 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Essential Properties Realty Trust in the 4th quarter worth about $287,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Essential Properties Realty Trust by 38.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 94,169 shares of the company’s stock worth $2,946,000 after purchasing an additional 26,234 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Essential Properties Realty Trust by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,872,955 shares of the company’s stock worth $89,866,000 after purchasing an additional 43,179 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Essential Properties Realty Trust in the 4th quarter worth about $346,000. Institutional investors own 96.98% of the company’s stock.

Essential Properties Realty Trust Trading Down 0.7%

Shares of NYSE:EPRT opened at $32.41 on Monday. The company has a 50 day moving average of $32.13 and a 200-day moving average of $31.82. The firm has a market cap of $6.40 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.45 and a beta of 1.10. Essential Properties Realty Trust, Inc. has a twelve month low of $26.75 and a twelve month high of $34.88. The company has a current ratio of 7.76, a quick ratio of 7.76 and a debt-to-equity ratio of 0.55.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). Essential Properties Realty Trust had a net margin of 44.62% and a return on equity of 6.13%. The firm had revenue of $129.35 million for the quarter, compared to analyst estimates of $124.88 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. As a group, analysts anticipate that Essential Properties Realty Trust, Inc. will post 1.83 earnings per share for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.70%. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s payout ratio is currently 102.61%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Scotiabank lifted their price target on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. Truist Financial lifted their price target on shares of Essential Properties Realty Trust from $35.00 to $36.00 and gave the company a “buy” rating in a report on Monday, May 5th. Barclays reaffirmed an “overweight” rating and issued a $37.00 price target (up from $35.00) on shares of Essential Properties Realty Trust in a report on Wednesday, May 21st. Finally, UBS Group decreased their price target on shares of Essential Properties Realty Trust from $40.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and an average price target of $34.91.

Insider Buying and Selling at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, VP A Joseph Peil sold 13,227 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $32.96, for a total value of $435,961.92. Following the completion of the sale, the vice president now directly owns 76,590 shares of the company’s stock, valued at $2,524,406.40. The trade was a 14.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.81% of the company’s stock.

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.