JPMorgan Chase & Co. Acquires 651,782 Shares of Essential Properties Realty Trust, Inc. $EPRT

JPMorgan Chase & Co. increased its holdings in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 39.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,290,212 shares of the company’s stock after purchasing an additional 651,782 shares during the period. JPMorgan Chase & Co. owned 1.16% of Essential Properties Realty Trust worth $68,157,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EPRT. Royal Bank of Canada lifted its holdings in Essential Properties Realty Trust by 159.4% during the first quarter. Royal Bank of Canada now owns 74,147 shares of the company’s stock worth $2,420,000 after buying an additional 45,561 shares during the period. AQR Capital Management LLC raised its position in shares of Essential Properties Realty Trust by 21.8% in the 1st quarter. AQR Capital Management LLC now owns 22,244 shares of the company’s stock worth $726,000 after acquiring an additional 3,981 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Essential Properties Realty Trust by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,387,218 shares of the company’s stock worth $45,279,000 after purchasing an additional 195,057 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Essential Properties Realty Trust during the 1st quarter worth $2,350,000. Finally, Ethic Inc. boosted its position in Essential Properties Realty Trust by 16.7% during the second quarter. Ethic Inc. now owns 8,230 shares of the company’s stock valued at $263,000 after purchasing an additional 1,175 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Stock Up 0.4%

EPRT stock opened at $33.24 on Wednesday. The firm has a 50 day moving average of $30.72 and a 200 day moving average of $30.59. The stock has a market capitalization of $6.98 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.60. Essential Properties Realty Trust, Inc. has a 52 week low of $27.44 and a 52 week high of $33.35.

Essential Properties Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.7%. 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 presently 96.88%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EPRT shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Scotiabank lifted their price objective 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. Evercore reissued an “outperform” rating on shares of Essential Properties Realty Trust in a research report on Tuesday, February 17th. Mizuho raised their target price on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, Barclays reaffirmed an “overweight” rating and issued a $37.00 price target on shares of Essential Properties Realty Trust in a report on Tuesday, January 13th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.67.

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.