Jennison Associates LLC Sells 40,674 Shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Jennison Associates LLC reduced its position in shares of Essential Properties Realty Trust, Inc. (NYSE:EPRT) by 55.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,576 shares of the company’s stock after selling 40,674 shares during the quarter. Jennison Associates LLC’s holdings in Essential Properties Realty Trust were worth $833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EPRT. Signaturefd LLC lifted its position in Essential Properties Realty Trust by 666.8% in the fourth quarter. Signaturefd LLC now owns 2,492 shares of the company’s stock worth $64,000 after buying an additional 2,167 shares during the last quarter. Covestor Ltd lifted its position in Essential Properties Realty Trust by 15.5% in the third quarter. Covestor Ltd now owns 7,848 shares of the company’s stock worth $170,000 after buying an additional 1,052 shares during the last quarter. Cambria Investment Management L.P. bought a new stake in Essential Properties Realty Trust in the third quarter worth $201,000. Cetera Trust Company N.A bought a new stake in Essential Properties Realty Trust in the fourth quarter worth $241,000. Finally, Glenmede Trust Co. NA bought a new stake in Essential Properties Realty Trust in the third quarter worth $223,000. 96.98% of the stock is currently owned by institutional investors.

Essential Properties Realty Trust Stock Performance

Shares of Essential Properties Realty Trust stock opened at $25.69 on Friday. The firm has a market cap of $4.50 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.90 and a beta of 1.27. The company has a current ratio of 7.61, a quick ratio of 5.01 and a debt-to-equity ratio of 0.51. Essential Properties Realty Trust, Inc. has a 12 month low of $20.49 and a 12 month high of $26.77. The stock’s fifty day moving average price is $25.32 and its 200-day moving average price is $24.51.

Essential Properties Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.285 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.14 annualized dividend and a yield of 4.44%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is presently 92.68%.

Wall Street Analyst Weigh In

EPRT has been the topic of a number of recent analyst reports. Mizuho reduced their target price on Essential Properties Realty Trust from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Citigroup upgraded Essential Properties Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $28.50 in a research note on Friday, March 22nd. BMO Capital Markets initiated coverage on Essential Properties Realty Trust in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $29.00 target price on the stock. Stifel Nicolaus increased their target price on Essential Properties Realty Trust from $27.00 to $27.50 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, B. Riley reiterated a “buy” rating and issued a $29.00 target price (up previously from $27.50) on shares of Essential Properties Realty Trust in a research note on Wednesday, March 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Essential Properties Realty Trust has an average rating of “Buy” and a consensus target price of $28.22.

Insider Buying and Selling at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 9,188 shares of Essential Properties Realty Trust stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the transaction, the chief executive officer now owns 554,904 shares in the company, valued at $14,433,053.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 17,618 shares of Essential Properties Realty Trust stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $24.90, for a total value of $438,688.20. Following the transaction, the chief executive officer now owns 353,303 shares in the company, valued at $8,797,244.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter M. Mavoides sold 9,188 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $26.01, for a total value of $238,979.88. Following the completion of the sale, the chief executive officer now directly owns 554,904 shares of the company’s stock, valued at approximately $14,433,053.04. The disclosure for this sale can be found here. Insiders have sold 44,524 shares of company stock worth $1,113,438 over the last quarter. Insiders own 0.81% of the company’s stock.

Essential Properties Realty Trust Company 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.