Principal Financial Group Inc. Grows Stock Position in Essential Properties Realty Trust, Inc. (NYSE:EPRT)

Principal Financial Group Inc. grew its holdings in Essential Properties Realty Trust, Inc. (NYSE:EPRT - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,948,952 shares of the company's stock after purchasing an additional 469,610 shares during the period. Principal Financial Group Inc. owned about 1.68% of Essential Properties Realty Trust worth $92,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Duff & Phelps Investment Management Co. bought a new stake in Essential Properties Realty Trust in the 3rd quarter worth about $69,473,000. Adelante Capital Management LLC grew its stake in shares of Essential Properties Realty Trust by 3,964.9% in the third quarter. Adelante Capital Management LLC now owns 1,111,634 shares of the company's stock worth $37,962,000 after acquiring an additional 1,084,287 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Essential Properties Realty Trust by 434.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,086,529 shares of the company's stock valued at $37,105,000 after purchasing an additional 883,053 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Essential Properties Realty Trust by 33.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,503,405 shares of the company's stock valued at $85,491,000 after purchasing an additional 621,445 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Essential Properties Realty Trust by 840.9% during the third quarter. Bank of Montreal Can now owns 622,034 shares of the company's stock valued at $21,242,000 after purchasing an additional 555,926 shares during the period. Hedge funds and other institutional investors own 96.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EPRT shares. UBS Group raised their target price on Essential Properties Realty Trust from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Essential Properties Realty Trust in a research report on Wednesday, December 11th. They set a "buy" rating and a $38.00 price objective on the stock. Mizuho increased their price objective on shares of Essential Properties Realty Trust from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Wells Fargo & Company reduced their target price on Essential Properties Realty Trust from $37.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, Capital One Financial assumed coverage on Essential Properties Realty Trust in a research note on Wednesday, February 12th. They issued an "overweight" rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.55.

Essential Properties Realty Trust Trading Down 0.4 %

Shares of NYSE:EPRT traded down $0.12 on Thursday, hitting $31.81. 1,001,378 shares of the company's stock were exchanged, compared to its average volume of 1,064,139. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 2.90 and a beta of 1.40. Essential Properties Realty Trust, Inc. has a 12 month low of $23.58 and a 12 month high of $34.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.36 and a quick ratio of 5.36. The business's 50 day simple moving average is $31.57 and its two-hundred day simple moving average is $32.16.

Essential Properties Realty Trust (NYSE:EPRT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.14. Essential Properties Realty Trust had a return on equity of 6.12% and a net margin of 45.15%. Analysts anticipate that Essential Properties Realty Trust, Inc. will post 1.83 EPS for the current fiscal year.

Essential Properties Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.295 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.71%. This is a positive change from Essential Properties Realty Trust's previous quarterly dividend of $0.29. Essential Properties Realty Trust's dividend payout ratio is currently 103.51%.

About Essential Properties Realty Trust

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.