Essential Properties Realty Trust, Inc. (NYSE:EPRT) Announces Quarterly Dividend of $0.27

Essential Properties Realty Trust, Inc. (NYSE:EPRTGet Rating) announced a quarterly dividend on Monday, June 6th, Zacks reports. Shareholders of record on Thursday, June 30th will be paid a dividend of 0.27 per share on Thursday, July 14th. This represents a $1.08 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Wednesday, June 29th. This is an increase from Essential Properties Realty Trust’s previous quarterly dividend of $0.26.

Essential Properties Realty Trust has increased its dividend payment by an average of 32.1% annually over the last three years and has raised its dividend every year for the last 3 years. Essential Properties Realty Trust has a dividend payout ratio of 110.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Essential Properties Realty Trust to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 63.0%.

Shares of Essential Properties Realty Trust stock opened at $22.99 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.20 and a quick ratio of 3.20. Essential Properties Realty Trust has a fifty-two week low of $21.31 and a fifty-two week high of $32.92. The firm has a fifty day moving average price of $24.05 and a two-hundred day moving average price of $25.60. The company has a market cap of $3.02 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.04 and a beta of 1.35.

A number of institutional investors have recently added to or reduced their stakes in EPRT. Walleye Capital LLC bought a new position in Essential Properties Realty Trust in the first quarter valued at approximately $1,651,000. Walleye Trading LLC bought a new position in Essential Properties Realty Trust in the first quarter valued at approximately $491,000. Weiss Multi Strategy Advisers LLC bought a new position in Essential Properties Realty Trust in the first quarter valued at approximately $15,271,000. Jane Street Group LLC bought a new position in Essential Properties Realty Trust in the first quarter valued at approximately $284,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in Essential Properties Realty Trust in the first quarter valued at approximately $538,000. 95.24% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on EPRT shares. The Goldman Sachs Group downgraded shares of Essential Properties Realty Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $26.00 in a report on Wednesday, May 25th. Zacks Investment Research downgraded shares of Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a report on Monday. Raymond James dropped their target price on shares of Essential Properties Realty Trust from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, March 11th. LADENBURG THALM/SH SH increased their target price on shares of Essential Properties Realty Trust from $27.00 to $28.50 in a research report on Tuesday, March 1st. Finally, Truist Financial dropped their target price on shares of Essential Properties Realty Trust from $32.00 to $28.00 and set a “na” rating for the company in a research report on Monday, May 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.39.

Essential Properties Realty Trust Company Profile (Get Rating)

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.

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Dividend History for Essential Properties Realty Trust (NYSE:EPRT)

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