Essential Properties Realty Trust, Inc. (NYSE:EPRT) Short Interest Update

Essential Properties Realty Trust, Inc. (NYSE:EPRTGet Free Report) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 8,510,000 shares, a growth of 14.5% from the May 15th total of 7,430,000 shares. Based on an average daily trading volume, of 1,400,000 shares, the days-to-cover ratio is presently 6.1 days.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup raised Essential Properties Realty Trust from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $28.50 in a research note on Friday, March 22nd. Scotiabank lifted their price target on Essential Properties Realty Trust from $26.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 29th. Stifel Nicolaus lifted their price target on Essential Properties Realty Trust from $27.00 to $27.50 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. B. Riley reissued a “buy” rating and set a $29.00 target price (up from $27.50) on shares of Essential Properties Realty Trust in a research note on Wednesday, March 13th. Finally, Mizuho boosted their target price on Essential Properties Realty Trust from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Essential Properties Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $28.60.

View Our Latest Research Report on Essential Properties Realty Trust

Insider Buying and Selling

In related news, Director Stephen D. Sautel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $27.09, for a total value of $677,250.00. Following the completion of the sale, the director now owns 247,492 shares in the company, valued at approximately $6,704,558.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of Essential Properties Realty Trust stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the transaction, the chief executive officer now directly owns 554,904 shares of the company’s stock, valued at approximately $14,433,053.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen D. Sautel sold 25,000 shares of Essential Properties Realty Trust stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $27.09, for a total value of $677,250.00. Following the completion of the transaction, the director now directly owns 247,492 shares in the company, valued at $6,704,558.28. The disclosure for this sale can be found here. Insiders sold 34,288 shares of company stock worth $918,830 in the last quarter. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Essential Properties Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Essential Properties Realty Trust in the fourth quarter worth $48,312,000. Invesco Ltd. grew its stake in shares of Essential Properties Realty Trust by 36.6% in the third quarter. Invesco Ltd. now owns 6,015,270 shares of the company’s stock worth $130,110,000 after acquiring an additional 1,611,484 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Essential Properties Realty Trust by 18.4% in the fourth quarter. Wellington Management Group LLP now owns 9,931,196 shares of the company’s stock worth $253,841,000 after acquiring an additional 1,543,346 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Essential Properties Realty Trust by 31.4% in the third quarter. Deutsche Bank AG now owns 5,305,696 shares of the company’s stock worth $114,762,000 after acquiring an additional 1,267,534 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Essential Properties Realty Trust by 4.4% in the first quarter. Vanguard Group Inc. now owns 25,377,389 shares of the company’s stock worth $676,561,000 after acquiring an additional 1,060,079 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Stock Down 0.2 %

EPRT stock traded down $0.05 during midday trading on Friday, hitting $27.60. The stock had a trading volume of 687,661 shares, compared to its average volume of 1,276,864. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The business has a 50-day moving average of $26.66 and a two-hundred day moving average of $25.68. Essential Properties Realty Trust has a 52-week low of $20.49 and a 52-week high of $28.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.61 and a quick ratio of 7.61.

Essential Properties Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.20%. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, June 28th. Essential Properties Realty Trust’s dividend payout ratio is presently 92.68%.

Essential Properties Realty Trust Company Profile

(Get Free Report)

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.

Further Reading

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