JPMorgan Chase & Co. Grows Stock Holdings in Essential Properties Realty Trust, Inc. (NYSE:EPRT)

JPMorgan Chase & Co. lifted its position in Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 6.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,594,775 shares of the company’s stock after purchasing an additional 98,467 shares during the quarter. JPMorgan Chase & Co.’s holdings in Essential Properties Realty Trust were worth $54,462,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of EPRT. Duff & Phelps Investment Management Co. purchased a new stake in Essential Properties Realty Trust in the third quarter worth approximately $69,473,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Essential Properties Realty Trust by 5,380.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,881,960 shares of the company’s stock worth $52,149,000 after acquiring an additional 1,847,618 shares during the last quarter. Adelante Capital Management LLC boosted its stake in shares of Essential Properties Realty Trust by 3,964.9% in the 3rd quarter. Adelante Capital Management LLC now owns 1,111,634 shares of the company’s stock valued at $37,962,000 after purchasing an additional 1,084,287 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Essential Properties Realty Trust by 434.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,086,529 shares of the company’s stock valued at $37,105,000 after purchasing an additional 883,053 shares during the last quarter. Finally, APG Asset Management US Inc. purchased a new position in Essential Properties Realty Trust in the 2nd quarter worth $21,274,000. 96.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EPRT shares. Stifel Nicolaus upped their price target on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft began coverage on Essential Properties Realty Trust in a research report on Wednesday, December 11th. They set a “buy” rating and a $38.00 price target on the stock. Truist Financial increased their price objective on Essential Properties Realty Trust from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Mizuho lifted their target price on shares of Essential Properties Realty Trust from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. 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 report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Essential Properties Realty Trust Stock Performance

Shares of EPRT opened at $31.49 on Friday. The company has a 50-day simple moving average of $32.55 and a two-hundred day simple moving average of $31.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.59 and a quick ratio of 5.59. The firm has a market capitalization of $5.52 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 2.74 and a beta of 1.39. Essential Properties Realty Trust, Inc. has a one year low of $23.58 and a one year high of $34.88.

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

Essential Properties Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.75%. Essential Properties Realty Trust’s dividend payout ratio is currently 102.61%.

Essential Properties Realty Trust Profile

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.