MetLife Investment Management LLC Acquires 8,680 Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Posted by on Feb 28th, 2023

MetLife Investment Management LLC boosted its stake in Essential Properties Realty Trust, Inc. (NYSE:EPRT – Get Rating) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,629 shares of the company’s stock after acquiring an additional 8,680 shares during the period. MetLife Investment Management LLC owned 0.05% of Essential Properties Realty Trust worth $1,452,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Essential Properties Realty Trust by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 19,944,341 shares of the company’s stock worth $504,592,000 after purchasing an additional 788,670 shares during the period. Wellington Management Group LLP lifted its holdings in Essential Properties Realty Trust by 0.8% in the first quarter. Wellington Management Group LLP now owns 11,118,105 shares of the company’s stock worth $281,288,000 after buying an additional 92,469 shares during the period. State Street Corp boosted its position in Essential Properties Realty Trust by 6.8% during the 2nd quarter. State Street Corp now owns 7,819,711 shares of the company’s stock valued at $170,065,000 after acquiring an additional 496,224 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Essential Properties Realty Trust by 1.2% during the 1st quarter. Invesco Ltd. now owns 4,807,870 shares of the company’s stock worth $121,638,000 after acquiring an additional 59,194 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Essential Properties Realty Trust by 4.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,389,904 shares of the company’s stock worth $72,849,000 after acquiring an additional 136,111 shares in the last quarter. Institutional investors own 97.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Essential Properties Realty Trust from $26.25 to $26.50 in a research report on Thursday, February 16th. Raymond James upped their target price on shares of Essential Properties Realty Trust from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, December 19th. Truist Financial lifted their price target on shares of Essential Properties Realty Trust from $27.00 to $29.00 in a research report on Monday. Citigroup cut their price objective on shares of Essential Properties Realty Trust to $22.00 in a report on Tuesday, November 15th. Finally, Mizuho lifted their target price on shares of Essential Properties Realty Trust from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, December 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Essential Properties Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Essential Properties Realty Trust Trading Up 0.6 %

NYSE:EPRT opened at $25.98 on Tuesday. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 26.24 and a beta of 1.28. The company has a quick ratio of 5.13, a current ratio of 5.13 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average price is $24.41 and its 200-day moving average price is $22.81. Essential Properties Realty Trust, Inc. has a 52 week low of $18.88 and a 52 week high of $26.75.

Essential Properties Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.23%. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Thursday, December 29th. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 111.11%.

Essential Properties Realty Trust Profile

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Essential Properties Realty Trust, Inc engages in the acquisition, and management of single-tenant properties that are net leased on a long-term basis to middle-market companies, which operates service-oriented or experience-based businesses. Its portfolio includes the following: Captain D’s, Art Van Furniture, Mister and Zips Car Wash, AMC Theaters, Perkins, 84 Lumber, Mirabito, Ruby Tuesday and White Oak Station.

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Institutional Ownership by Quarter for Essential Properties Realty Trust (NYSE:EPRT)

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