Millennium Management LLC Sells 620,607 Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Millennium Management LLC lessened its holdings in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 29.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,510,930 shares of the company’s stock after selling 620,607 shares during the period. Millennium Management LLC owned approximately 0.86% of Essential Properties Realty Trust worth $41,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of EPRT. Thoroughbred Financial Services LLC raised its stake in shares of Essential Properties Realty Trust by 5.3% in the 1st quarter. Thoroughbred Financial Services LLC now owns 12,879 shares of the company’s stock valued at $343,000 after purchasing an additional 654 shares during the period. New York State Teachers Retirement System raised its position in Essential Properties Realty Trust by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 230,417 shares of the company’s stock valued at $6,143,000 after buying an additional 658 shares during the last quarter. CWM LLC raised its position in Essential Properties Realty Trust by 122.9% in the 2nd quarter. CWM LLC now owns 1,244 shares of the company’s stock valued at $34,000 after buying an additional 686 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Essential Properties Realty Trust by 7.8% in the 2nd quarter. CIBC Asset Management Inc now owns 10,673 shares of the company’s stock valued at $296,000 after acquiring an additional 772 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Essential Properties Realty Trust by 1.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 42,586 shares of the company’s stock worth $1,180,000 after acquiring an additional 800 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Peter M. Mavoides sold 12,712 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $28.03, for a total value of $356,317.36. Following the transaction, the chief executive officer now owns 500,552 shares of the company’s stock, valued at $14,030,472.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Peter M. Mavoides sold 12,712 shares of Essential Properties Realty Trust stock in a transaction on Friday, July 5th. The stock was sold at an average price of $28.03, for a total transaction of $356,317.36. Following the completion of the sale, the chief executive officer now owns 500,552 shares of the company’s stock, valued at $14,030,472.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter M. Mavoides sold 27,817 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.33, for a total transaction of $899,323.61. Following the completion of the transaction, the chief executive officer now owns 446,076 shares in the company, valued at $14,421,637.08. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on EPRT. Stifel Nicolaus boosted their price objective on shares of Essential Properties Realty Trust from $32.00 to $36.25 and gave the stock a “buy” rating in a research report on Thursday, September 26th. UBS Group increased their price objective on shares of Essential Properties Realty Trust from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Truist Financial lifted their target price on Essential Properties Realty Trust from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group began coverage on Essential Properties Realty Trust in a research report on Friday, June 28th. They set a “buy” rating and a $33.00 price target for the company. Finally, Wedbush started coverage on Essential Properties Realty Trust in a research report on Monday, August 19th. They set an “outperform” rating and a $34.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Essential Properties Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $32.37.

Essential Properties Realty Trust Stock Performance

Shares of NYSE EPRT opened at $33.51 on Wednesday. Essential Properties Realty Trust, Inc. has a 12 month low of $20.49 and a 12 month high of $34.51. The stock has a 50 day moving average of $31.49 and a 200-day moving average of $28.62. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $5.87 billion, a P/E ratio of 27.24, a P/E/G ratio of 2.93 and a beta of 1.37.

Essential Properties Realty Trust (NYSE:EPRT) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.13). The company had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.99 million. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. Essential Properties Realty Trust’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, equities research analysts predict that Essential Properties Realty Trust, Inc. will post 1.68 EPS for the current year.

Essential Properties Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.46%. Essential Properties Realty Trust’s dividend payout ratio is currently 94.31%.

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.