Essential Properties Realty Trust (NYSE:EPRT) Releases Quarterly Earnings Results, Meets Expectations

Essential Properties Realty Trust (NYSE:EPRT) released its earnings results on Wednesday. The company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49, Zacks reports. Essential Properties Realty Trust had a net margin of 45.25% and a return on equity of 6.38%. The company had revenue of $149.87 million for the quarter, compared to analysts’ expectations of $149.44 million. During the same quarter in the previous year, the company earned $0.45 EPS. Essential Properties Realty Trust’s revenue for the quarter was up 24.7% on a year-over-year basis.

Essential Properties Realty Trust Trading Down 1.2%

Shares of NYSE:EPRT traded down $0.39 during trading on Wednesday, reaching $31.53. 1,329,204 shares of the company were exchanged, compared to its average volume of 1,735,304. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.66 and a quick ratio of 5.66. The firm has a market capitalization of $6.25 billion, a PE ratio of 25.42, a P/E/G ratio of 2.00 and a beta of 0.99. The business’s fifty day simple moving average is $30.40 and its 200-day simple moving average is $30.46. Essential Properties Realty Trust has a 12-month low of $27.44 and a 12-month high of $33.35.

Essential Properties Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, December 31st. Essential Properties Realty Trust’s dividend payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EPRT shares. Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Monday, January 5th. Stifel Nicolaus set a $36.00 price objective on Essential Properties Realty Trust in a research note on Thursday, October 23rd. Evercore lowered their target price on Essential Properties Realty Trust from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Scotiabank boosted their price target on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research report on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Essential Properties Realty Trust has an average rating of “Moderate Buy” and a consensus price target of $35.41.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management increased its position in Essential Properties Realty Trust by 115,385.7% during the 4th quarter. Picton Mahoney Asset Management now owns 40,420 shares of the company’s stock valued at $1,199,000 after purchasing an additional 40,385 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of Essential Properties Realty Trust by 1.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 109,896 shares of the company’s stock valued at $3,260,000 after acquiring an additional 1,376 shares during the period. Metis Global Partners LLC raised its position in shares of Essential Properties Realty Trust by 5.3% in the 4th quarter. Metis Global Partners LLC now owns 46,870 shares of the company’s stock worth $1,390,000 after acquiring an additional 2,342 shares in the last quarter. Deutsche Bank AG boosted its position in Essential Properties Realty Trust by 12.2% during the fourth quarter. Deutsche Bank AG now owns 3,639,491 shares of the company’s stock valued at $107,947,000 after purchasing an additional 396,404 shares in the last quarter. Finally, LPL Financial LLC grew its stake in Essential Properties Realty Trust by 30.2% in the fourth quarter. LPL Financial LLC now owns 36,737 shares of the company’s stock valued at $1,090,000 after purchasing an additional 8,521 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Company 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.