Lighthouse Investment Partners LLC Purchases 485,000 Shares of Essential Properties Realty Trust, Inc. $EPRT

Lighthouse Investment Partners LLC grew its position in Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 225.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 700,000 shares of the company’s stock after purchasing an additional 485,000 shares during the period. Essential Properties Realty Trust comprises about 0.6% of Lighthouse Investment Partners LLC’s investment portfolio, making the stock its 19th largest holding. Lighthouse Investment Partners LLC’s holdings in Essential Properties Realty Trust were worth $20,832,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Essential Properties Realty Trust during the 2nd quarter worth about $84,188,000. Balyasny Asset Management L.P. raised its position in Essential Properties Realty Trust by 195.4% in the 3rd quarter. Balyasny Asset Management L.P. now owns 3,970,789 shares of the company’s stock worth $118,171,000 after purchasing an additional 2,626,478 shares during the period. Barclays PLC raised its position in Essential Properties Realty Trust by 168.5% in the 3rd quarter. Barclays PLC now owns 2,212,137 shares of the company’s stock worth $65,833,000 after purchasing an additional 1,388,289 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its stake in Essential Properties Realty Trust by 84.6% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,188,633 shares of the company’s stock worth $65,134,000 after purchasing an additional 1,003,177 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Essential Properties Realty Trust by 467.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,778 shares of the company’s stock worth $36,003,000 after purchasing an additional 996,473 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Essential Properties Realty Trust Stock Performance

Shares of Essential Properties Realty Trust stock opened at $32.95 on Monday. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $31.74 and its 200-day moving average price is $30.87. The firm has a market cap of $6.91 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.43 and a beta of 0.95. Essential Properties Realty Trust, Inc. has a 12 month low of $27.44 and a 12 month high of $34.73.

Essential Properties Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, March 31st. Essential Properties Realty Trust’s dividend payout ratio is presently 96.88%.

Wall Street Analysts Forecast Growth

EPRT has been the topic of a number of analyst reports. Evercore reaffirmed an “outperform” rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Barclays reissued an “overweight” rating and set a $37.00 price target on shares of Essential Properties Realty Trust in a research note on Tuesday, January 13th. Truist Financial upped their price objective on Essential Properties Realty Trust from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 9th. UBS Group lifted their target price on Essential Properties Realty Trust from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Essential Properties Realty Trust has an average rating of “Moderate Buy” and an average target price of $36.56.

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.