Massachusetts Financial Services Co. MA Has $70.78 Million Position in Essential Properties Realty Trust, Inc. $EPRT

Massachusetts Financial Services Co. MA increased its holdings in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 5.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,378,414 shares of the company’s stock after purchasing an additional 115,567 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.20% of Essential Properties Realty Trust worth $70,782,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EPRT. TD Private Client Wealth LLC bought a new position in Essential Properties Realty Trust in the 2nd quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Essential Properties Realty Trust in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Essential Properties Realty Trust in the second quarter worth $44,000. Salomon & Ludwin LLC acquired a new stake in Essential Properties Realty Trust in the 3rd quarter worth $46,000. Finally, Versant Capital Management Inc grew its position in Essential Properties Realty Trust by 54.2% during the third quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock worth $56,000 after buying an additional 656 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Essential Properties Realty Trust Stock Up 0.8%

Shares of NYSE EPRT opened at $31.07 on Wednesday. Essential Properties Realty Trust, Inc. has a 1 year low of $27.44 and a 1 year high of $33.35. The firm’s 50-day moving average is $30.54 and its 200-day moving average is $30.48. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $6.16 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. Essential Properties Realty Trust had a net margin of 45.25% and a return on equity of 6.38%. The business had revenue of $144.93 million during the quarter, compared to the consensus estimate of $140.42 million. During the same period in the previous year, the firm posted $0.43 earnings per share. Essential Properties Realty Trust’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities analysts expect that Essential Properties Realty Trust, Inc. will post 1.83 EPS for the current year.

Essential Properties Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, December 31st. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Essential Properties Realty Trust in a report on Friday, October 31st. Scotiabank increased their price objective on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Evercore ISI dropped their target price on shares of Essential Properties Realty Trust from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Monday, January 5th. Finally, Stifel Nicolaus set a $36.00 price target on shares of Essential Properties Realty Trust in a report on Thursday, October 23rd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Essential Properties Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $35.41.

Essential Properties Realty Trust Profile

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.