Massachusetts Financial Services Co. MA Buys 115,567 Shares of Essential Properties Realty Trust, Inc. $EPRT

Massachusetts Financial Services Co. MA raised its stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,378,414 shares of the company’s stock after buying an additional 115,567 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Essential Properties Realty Trust were worth $70,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Virtus Investment Advisers LLC increased its stake in shares of Essential Properties Realty Trust by 11.5% in the 2nd quarter. Virtus Investment Advisers LLC now owns 5,303 shares of the company’s stock valued at $169,000 after acquiring an additional 549 shares during the last quarter. Fortis Capital Advisors LLC grew its holdings in Essential Properties Realty Trust by 3.2% during the second quarter. Fortis Capital Advisors LLC now owns 18,558 shares of the company’s stock valued at $592,000 after purchasing an additional 572 shares during the period. Belpointe Asset Management LLC increased its stake in Essential Properties Realty Trust by 3.2% in the second quarter. Belpointe Asset Management LLC now owns 18,558 shares of the company’s stock valued at $592,000 after purchasing an additional 572 shares in the last quarter. Lazard Asset Management LLC increased its stake in Essential Properties Realty Trust by 1.4% in the second quarter. Lazard Asset Management LLC now owns 43,461 shares of the company’s stock valued at $1,386,000 after purchasing an additional 598 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Essential Properties Realty Trust by 5.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,479 shares of the company’s stock worth $398,000 after purchasing an additional 618 shares during the period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EPRT has been the subject of several research analyst reports. Scotiabank boosted their price target on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Berenberg Bank began coverage on Essential Properties Realty Trust in a report on Monday, October 13th. They set a “buy” rating and a $36.00 target price on the stock. Stifel Nicolaus set a $36.00 price target on Essential Properties Realty Trust in a report on Thursday, October 23rd. Barclays reaffirmed an “overweight” rating and set a $37.00 price target on shares of Essential Properties Realty Trust in a research report on Tuesday, January 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.41.

Essential Properties Realty Trust Stock Performance

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

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. Essential Properties Realty Trust had a return on equity of 6.38% and a net margin of 45.25%.The company had revenue of $144.93 million during the quarter, compared to analysts’ expectations of $140.42 million. During the same period in the prior year, the firm earned $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 fiscal year.

Essential Properties Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.24 annualized dividend and a dividend yield of 4.0%. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s dividend payout ratio (DPR) is 100.00%.

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.