Point72 Asset Management L.P. Makes New Investment in Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Point72 Asset Management L.P. acquired a new stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT) in the 3rd quarter, HoldingsChannel reports. The fund acquired 8,215 shares of the company’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in Essential Properties Realty Trust by 1.9% during the third quarter. FMR LLC now owns 4,138,674 shares of the company’s stock worth $141,336,000 after buying an additional 76,475 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Essential Properties Realty Trust by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,829,776 shares of the company’s stock valued at $96,637,000 after acquiring an additional 141,612 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Essential Properties Realty Trust by 11.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,575,683 shares of the company’s stock valued at $71,372,000 after purchasing an additional 264,052 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Essential Properties Realty Trust by 33.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,503,405 shares of the company’s stock worth $85,491,000 after purchasing an additional 621,445 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Essential Properties Realty Trust by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 1,966,304 shares of the company’s stock valued at $54,486,000 after purchasing an additional 169,222 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

Essential Properties Realty Trust Price Performance

Shares of NYSE:EPRT opened at $32.68 on Friday. Essential Properties Realty Trust, Inc. has a fifty-two week low of $23.58 and a fifty-two week high of $34.88. The company’s 50-day moving average is $33.04 and its 200 day moving average is $31.03. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.59 and a current ratio of 5.59. The company has a market capitalization of $5.73 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38.

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

Essential Properties Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued 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 of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.61%. Essential Properties Realty Trust’s dividend payout ratio is 102.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Essential Properties Realty Trust in a research note on Wednesday. They issued a “buy” rating and a $38.00 price target on the stock. Truist Financial lifted their price target on Essential Properties Realty Trust from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Raymond James upped their price objective on Essential Properties Realty Trust from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Evercore ISI lifted their target price on Essential Properties Realty Trust from $33.00 to $34.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, UBS Group upped their price target on shares of Essential Properties Realty Trust from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.77.

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.