Essential Properties Realty Trust, Inc. (NYSE:EPRT) Sees Large Decline in Short Interest

Essential Properties Realty Trust, Inc. (NYSE:EPRT) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 12,250,000 shares, a decline of 36.7% from the December 15th total of 19,350,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is currently 10.4 days.

Essential Properties Realty Trust Stock Performance

Shares of EPRT stock traded down $0.03 during mid-day trading on Friday, reaching $31.76. 696,918 shares of the company’s stock traded hands, compared to its average volume of 1,150,393. Essential Properties Realty Trust has a 12 month low of $23.58 and a 12 month high of $34.88. The firm has a 50 day moving average price of $32.43 and a two-hundred day moving average price of $31.78. The firm has a market capitalization of $5.57 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.80 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). The company had revenue of $117.13 million for the quarter, compared to analysts’ expectations of $109.73 million. Essential Properties Realty Trust had a net margin of 46.00% and a return on equity of 6.20%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, research analysts forecast that Essential Properties Realty Trust will post 1.68 EPS for the current year.

Essential Properties Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a dividend of $0.295 per share. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. The ex-dividend date was Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.72%. Essential Properties Realty Trust’s payout ratio is 102.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays initiated coverage on shares of Essential Properties Realty Trust in a research report on Tuesday, December 17th. They set an “overweight” rating and a $35.94 price target for the company. Truist Financial upped their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus raised their price objective on Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company dropped their target price on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Essential Properties Realty Trust in a report on Wednesday, December 11th. They set a “buy” rating and a $38.00 price target for the company. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.91.

Institutional Investors Weigh In On Essential Properties Realty Trust

A number of institutional investors have recently bought and sold shares of EPRT. Janney Montgomery Scott LLC grew its position in shares of Essential Properties Realty Trust by 36.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,411 shares of the company’s stock worth $388,000 after purchasing an additional 3,334 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Essential Properties Realty Trust by 74.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,096 shares of the company’s stock worth $34,000 after purchasing an additional 468 shares during the period. Selective Wealth Management Inc. grew its holdings in Essential Properties Realty Trust by 1.9% during the 4th quarter. Selective Wealth Management Inc. now owns 21,709 shares of the company’s stock valued at $673,000 after buying an additional 395 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Essential Properties Realty Trust by 145.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 29,150 shares of the company’s stock valued at $912,000 after buying an additional 17,272 shares during the last quarter. Finally, Mendota Financial Group LLC lifted its holdings in shares of Essential Properties Realty Trust by 27,935.7% in the fourth quarter. Mendota Financial Group LLC now owns 3,925 shares of the company’s stock worth $123,000 after buying an additional 3,911 shares in the last quarter. Hedge funds and other institutional investors own 96.98% 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.