Principal Financial Group Inc. Sells 3,476,926 Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Principal Financial Group Inc. lowered its stake in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 72.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,309,735 shares of the company’s stock after selling 3,476,926 shares during the period. Principal Financial Group Inc. owned approximately 1.25% of Essential Properties Realty Trust worth $27,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC purchased a new stake in shares of Essential Properties Realty Trust during the 1st quarter valued at about $15,261,000. Great West Life Assurance Co. Can increased its position in shares of Essential Properties Realty Trust by 10.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 182,105 shares of the company’s stock valued at $3,521,000 after purchasing an additional 17,440 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Essential Properties Realty Trust by 11.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 444,312 shares of the company’s stock valued at $8,140,000 after purchasing an additional 45,431 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Essential Properties Realty Trust by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,053,453 shares of the company’s stock valued at $19,300,000 after purchasing an additional 61,253 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in shares of Essential Properties Realty Trust by 1.1% during the 3rd quarter. State of Tennessee Treasury Department now owns 53,324 shares of the company’s stock valued at $977,000 after purchasing an additional 586 shares during the last quarter.

Shares of EPRT opened at $23.99 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 14.29 and a quick ratio of 14.29. Essential Properties Realty Trust, Inc. has a 1 year low of $9.78 and a 1 year high of $25.22. The company has a 50 day simple moving average of $23.39 and a two-hundred day simple moving average of $20.88. The firm has a market cap of $2.57 billion, a P/E ratio of 42.09 and a beta of 1.32.

Essential Properties Realty Trust (NYSE:EPRT) last posted its earnings results on Monday, February 22nd. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). Essential Properties Realty Trust had a net margin of 31.54% and a return on equity of 3.73%. On average, sell-side analysts anticipate that Essential Properties Realty Trust, Inc. will post 1.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, March 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.00%. Essential Properties Realty Trust’s dividend payout ratio is currently 152.38%.

Several research firms have recently commented on EPRT. Mizuho lowered shares of Essential Properties Realty Trust from a “buy” rating to an “equal weight” rating and upped their price target for the company from $22.00 to $26.00 in a research report on Thursday, March 4th. Bank of America raised shares of Essential Properties Realty Trust from an “underperform” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Essential Properties Realty Trust in a report on Friday, January 22nd. They issued a “buy” rating for the company. Truist increased their target price on shares of Essential Properties Realty Trust from $23.00 to $26.00 in a report on Tuesday, March 16th. Finally, Raymond James increased their target price on shares of Essential Properties Realty Trust from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, March 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.95.

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, and health and fitness on a long-term basis.

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

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