HighTower Advisors LLC Increases Stake in Essential Properties Realty Trust, Inc. $EPRT

HighTower Advisors LLC increased its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 22.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,618 shares of the company’s stock after buying an additional 17,104 shares during the period. HighTower Advisors LLC’s holdings in Essential Properties Realty Trust were worth $2,786,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in Essential Properties Realty Trust in the second quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Essential Properties Realty Trust in the 3rd quarter valued at $46,000. Versant Capital Management Inc lifted its position in shares of Essential Properties Realty Trust by 54.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock worth $56,000 after purchasing an additional 656 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Essential Properties Realty Trust during the 3rd quarter worth $61,000. Finally, Smartleaf Asset Management LLC raised its stake in Essential Properties Realty Trust by 24.8% in the third quarter. Smartleaf Asset Management LLC now owns 2,861 shares of the company’s stock valued at $85,000 after buying an additional 569 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EPRT. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Friday, February 13th. 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. Evercore reiterated an “outperform” rating on shares of Essential Properties Realty Trust in a research note on Tuesday, February 17th. Mizuho boosted their price objective on shares of Essential Properties Realty Trust from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Scotiabank increased their target price on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.67.

Essential Properties Realty Trust Stock Up 0.7%

Essential Properties Realty Trust stock opened at $33.68 on Friday. The stock has a 50 day moving average of $30.84 and a two-hundred day moving average of $30.63. Essential Properties Realty Trust, Inc. has a twelve month low of $27.44 and a twelve month high of $33.70. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.46 and a beta of 0.99. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.60.

Essential Properties Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.24 annualized dividend and a yield of 3.7%. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s dividend payout ratio is presently 96.88%.

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.