Geode Capital Management LLC Boosts Holdings in Essential Properties Realty Trust, Inc. $EPRT

Geode Capital Management LLC raised its holdings in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,240,401 shares of the company’s stock after purchasing an additional 25,857 shares during the period. Geode Capital Management LLC’s holdings in Essential Properties Realty Trust were worth $155,452,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allstate Corp increased its holdings in Essential Properties Realty Trust by 175.7% during the 4th quarter. Allstate Corp now owns 50,223 shares of the company’s stock valued at $1,490,000 after acquiring an additional 32,004 shares in the last quarter. Clearstead Advisors LLC increased its holdings in Essential Properties Realty Trust by 664.4% during the 4th quarter. Clearstead Advisors LLC now owns 1,590 shares of the company’s stock valued at $47,000 after acquiring an additional 1,382 shares in the last quarter. Legal & General Group Plc increased its holdings in Essential Properties Realty Trust by 9.0% during the 4th quarter. Legal & General Group Plc now owns 1,397,170 shares of the company’s stock valued at $41,440,000 after acquiring an additional 115,768 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Essential Properties Realty Trust by 82.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 899 shares of the company’s stock valued at $27,000 after acquiring an additional 405 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Essential Properties Realty Trust by 83.0% during the 4th quarter. Covestor Ltd now owns 8,506 shares of the company’s stock valued at $252,000 after acquiring an additional 3,858 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Essential Properties Realty Trust Stock Performance

Shares of NYSE EPRT opened at $29.75 on Thursday. The company has a market cap of $6.43 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 2.39 and a beta of 0.88. Essential Properties Realty Trust, Inc. has a 12 month low of $28.95 and a 12 month high of $34.73. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.12 and a quick ratio of 5.12. The company has a 50-day simple moving average of $31.34 and a 200-day simple moving average of $31.35.

Essential Properties Realty Trust (NYSE:EPRT) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.05). The firm had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $151.87 million. Essential Properties Realty Trust had a return on equity of 6.30% and a net margin of 43.46%.The business’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. Essential Properties Realty Trust has set its FY 2026 guidance at 2.000-2.050 EPS. On average, equities analysts anticipate that Essential Properties Realty Trust, Inc. will post 1.96 earnings per share for the current year.

Essential Properties Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from Essential Properties Realty Trust’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, June 30th. Essential Properties Realty Trust’s payout ratio is presently 97.64%.

Insider Transactions at Essential Properties Realty Trust

In other news, VP A Joseph Peil sold 19,657 shares of Essential Properties Realty Trust stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $32.10, for a total transaction of $630,989.70. Following the completion of the sale, the vice president directly owned 76,525 shares in the company, valued at $2,456,452.50. The trade was a 20.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Webb Salisbury sold 5,851 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $31.88, for a total transaction of $186,529.88. Following the completion of the sale, the chief financial officer directly owned 8,310 shares in the company, valued at $264,922.80. This represents a 41.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EPRT. Evercore restated an “outperform” rating on shares of Essential Properties Realty Trust in a report on Tuesday, February 17th. UBS Group raised their target price on shares of Essential Properties Realty Trust from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday, March 9th. Truist Financial raised their target price on shares of Essential Properties Realty Trust from $34.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 9th. Stifel Nicolaus lifted their price target on shares of Essential Properties Realty Trust from $36.00 to $36.50 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Essential Properties Realty Trust in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $36.50.

About Essential Properties Realty Trust

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.