Allianz Asset Management GmbH Lowers Stake in Essential Properties Realty Trust, Inc. $EPRT

Allianz Asset Management GmbH cut its stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 26.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,713 shares of the company’s stock after selling 68,650 shares during the period. Allianz Asset Management GmbH owned about 0.10% of Essential Properties Realty Trust worth $5,676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in Essential Properties Realty Trust by 8.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,284,712 shares of the company’s stock worth $104,815,000 after acquiring an additional 267,226 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Essential Properties Realty Trust during the third quarter valued at approximately $1,242,000. Exchange Traded Concepts LLC increased its holdings in Essential Properties Realty Trust by 139.6% during the third quarter. Exchange Traded Concepts LLC now owns 118,698 shares of the company’s stock valued at $3,532,000 after buying an additional 69,157 shares during the period. Allworth Financial LP increased its holdings in Essential Properties Realty Trust by 2,890.8% during the second quarter. Allworth Financial LP now owns 22,192 shares of the company’s stock valued at $708,000 after buying an additional 21,450 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Essential Properties Realty Trust by 5.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,378,414 shares of the company’s stock worth $70,782,000 after buying an additional 115,567 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Essential Properties Realty Trust Stock Up 1.3%

EPRT stock opened at $31.89 on Wednesday. The stock has a market capitalization of $6.32 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99. Essential Properties Realty Trust, Inc. has a 52 week low of $27.44 and a 52 week high of $33.35. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $30.40 and a 200 day moving average of $30.46.

Essential Properties Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.30. Essential Properties Realty Trust’s payout ratio is currently 100.00%.

Analysts Set New Price Targets

EPRT has been the topic of several recent research reports. Mizuho increased their target price on Essential Properties Realty Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Essential Properties Realty Trust in a research report on Wednesday, January 28th. Stifel Nicolaus set a $36.00 target price on Essential Properties Realty Trust in a research note on Thursday, October 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Essential Properties Realty Trust in a research report on Monday, January 5th. Finally, Scotiabank raised their price target on shares of Essential Properties Realty Trust from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.41.

Essential Properties Realty Trust 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.