PGGM Investments Takes $175.24 Million Position in Essential Properties Realty Trust Inc (NYSE:EPRT)

PGGM Investments bought a new stake in Essential Properties Realty Trust Inc (NYSE:EPRT) in the fourth quarter, HoldingsChannel reports. The fund bought 7,063,397 shares of the company’s stock, valued at approximately $175,243,000. Essential Properties Realty Trust makes up approximately 1.0% of PGGM Investments’ investment portfolio, making the stock its 28th biggest position. PGGM Investments owned about 0.08% of Essential Properties Realty Trust as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Essential Properties Realty Trust by 16.2% in the second quarter. Vanguard Group Inc. now owns 5,814,652 shares of the company’s stock valued at $116,526,000 after buying an additional 808,975 shares in the last quarter. BlackRock Inc. boosted its holdings in Essential Properties Realty Trust by 15.0% in the second quarter. BlackRock Inc. now owns 3,515,402 shares of the company’s stock valued at $70,449,000 after purchasing an additional 457,554 shares during the last quarter. Invesco Ltd. boosted its holdings in Essential Properties Realty Trust by 8.9% in the second quarter. Invesco Ltd. now owns 2,815,716 shares of the company’s stock valued at $56,427,000 after purchasing an additional 228,962 shares during the last quarter. State Street Corp boosted its holdings in Essential Properties Realty Trust by 140.4% in the third quarter. State Street Corp now owns 2,582,494 shares of the company’s stock valued at $59,725,000 after purchasing an additional 1,508,379 shares during the last quarter. Finally, FMR LLC purchased a new position in Essential Properties Realty Trust in the first quarter valued at about $15,261,000.

NYSE:EPRT traded down $0.08 during trading hours on Friday, reaching $25.70. 2,671 shares of the stock were exchanged, compared to its average volume of 1,536,432. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $25.28 and a 200-day simple moving average of $23.49. Essential Properties Realty Trust Inc has a 52 week low of $14.21 and a 52 week high of $27.10. The stock has a market capitalization of $2.17 billion, a P/E ratio of 44.28, a P/E/G ratio of 1.70 and a beta of 0.39.

Essential Properties Realty Trust (NYSE:EPRT) last released its earnings results on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). Essential Properties Realty Trust had a return on equity of 3.33% and a net margin of 25.70%. The firm had revenue of $36.29 million for the quarter, compared to the consensus estimate of $34.78 million. As a group, analysts expect that Essential Properties Realty Trust Inc will post 1.15 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, December 30th. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.22.

A number of research analysts recently commented on EPRT shares. Scotiabank started coverage on Essential Properties Realty Trust in a report on Monday, December 16th. They issued an “outperform” rating for the company. Stifel Nicolaus increased their price target on Essential Properties Realty Trust from $24.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Royal Bank of Canada downgraded Essential Properties Realty Trust from a “sector perform” rating to an “underperform” rating and set a $22.00 price target for the company. in a report on Wednesday, December 18th. Barclays reissued a “hold” rating and issued a $22.00 price target on shares of Essential Properties Realty Trust in a report on Sunday, October 13th. Finally, ValuEngine downgraded Essential Properties Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.48.

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 services, convenience stores, entertainment, early childhood education, and health and fitness on a long-term basis.

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Institutional Ownership by Quarter for Essential Properties Realty Trust (NYSE:EPRT)

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