Essential Properties Realty Trust
EPRT

$34.10

0.65%

Market Cap: $5.98B

About: Essential Properties Realty Trust Inc is a real estate investment trust. It is an internally managed real estate company acquires, owns and manages single-tenant properties that are net leased on a long-term basis to middle-market companies operating service-oriented or experience-based businesses.

Employees: 40

Financials Real Estate Investment Trusts

0

Funds holding %

of 6,710 funds

0

Analysts bullish %

of 10 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

114% more first-time investments, than exits

New positions opened: 47 | Existing positions closed: 22

45% more repeat investments, than reductions

Existing positions increased: 133 | Existing positions reduced: 92

9% more funds holding

Funds holding: 281 [Q1] → 306 (+25) [Q2]

4% more capital invested

Capital invested by funds: $4.96B [Q1] → $5.18B (+$219M) [Q2]

0.32% more ownership

Funds ownership: 106.31% [Q1] → 106.64% (+0.32%) [Q2]

38% less call options, than puts

Call options by funds: $1.32M | Put options by funds: $2.13M

100% less funds holding in top 10

Funds holding in top 10: 2 [Q1] → 0 (-2) [Q2]

See Fund Rankings

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$30

12%

downside

Avg. target

$33

3%

downside

High target

$35

3%

upside

10 analyst ratings

7 positive

70%

3 neutral

30%

0 negative

0%

Evercore ISI Group Sheila McGrath 0 / 0 met price target	0%downside $34	In-Line Maintained	16 Sept 2024
Evercore ISI Group Sheila McGrath 0 / 0 met price target	3%downside $33	In-Line Maintained	28 Aug 2024
Wells Fargo James Feldman 85% 1-year accuracy 11 / 13 met price target	0%downside $34	Overweight Maintained	26 Aug 2024
Raymond James RJ Milligan 83% 1-year accuracy 15 / 18 met price target	3%downside $33	Outperform Maintained	21 Aug 2024
Wedbush Jay Kornreich 0 / 0 met price target	0%downside $34	Outperform Initiated	19 Aug 2024

See Analyst Rankings

Financial journalist opinion

Based on 6 articles about EPRT published over the past 30 days

Essential Properties Realty Trust: A Solid Option In Retail REITs Despite +9% Gains

Essential Properties Realty Trust focuses on mid-market properties with smaller, non-investment grade tenants, offering higher growth potential and better cap rates despite increased risk. EPRT demonstrates strong fundamentals with low leverage, high diversification, and consistent FFO and dividend growth, despite being a relatively new company. EPRT's valuation is slightly higher than peers due to its growth prospects, lower debt levels, and healthy dividend payout.

Essential Properties Realty Trust: A Solid Option In Retail REITs Despite +9% Gains

Essential Properties Realty Trust, Inc. Announces Quarterly Dividend of $0.29 per Share for the Third Quarter of 2024

PRINCETON, N.J.--(BUSINESS WIRE)--Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share of common stock for the third quarter of 2024. This represents an annualized dividend of $1.16 per share of common stock. The dividend is payable on October 11, 2024, to stockholders of record as of the close of business on September 30, 2024. About Essential Properties Realty Trust, Inc. Essential.

Essential Properties Realty Trust, Inc. Announces Quarterly Dividend of $0.29 per Share for the Third Quarter of 2024

Essential Properties Realty Trust: Great Business At Wrong Price (Rating Downgrade)

In September 2023, I published my initial bull thesis on Essential Properties Realty Trust driven by a low P/FFO multiple, robust balance sheet, and an attractive dividend yield of ~5%. Since then, EPRT's share price has surged higher, increasing the P/FFO multiple to 16.9x, and reducing the dividend yield to 3.6%. Despite strong Q2 2024 AFFO growth and a solid investment pipeline, the valuations still seem too rich, given the current interest rate environment.

Essential Properties Realty Trust: Great Business At Wrong Price (Rating Downgrade)

My Top 3 REITs For The Real Estate Comeback

Real estate is back, with major ETFs up over 20%. While valuations are up, CRE fundamentals show both stabilization and ongoing challenges. The industrial and retail sectors show promise, driven by strong demand and favorable trends. Office spaces, however, remain troubled. I've highlighted three REITs that excel in this market, each with unique strengths aligned to thrive in the current real estate environment.

My Top 3 REITs For The Real Estate Comeback

10 Dividend Blue-Chip Bargains To Potentially Profit From This Irrational Market Freakout

Joel Greenblatt's Magic Formula combines value and quality investing. By focusing on earnings yield and return on capital, it has achieved 40% annual returns for 21 years. The market's recent selloff, driven by weak manufacturing data, is an opportunity to buy high-quality undervalued dividend blue-chip stocks using Joel Greenblatt's Magic Formula. September's market volatility is average. Focus on long-term investment strategies rather than knee-jerk reactions to short-term data.

10 Dividend Blue-Chip Bargains To Potentially Profit From This Irrational Market Freakout

2 REITs I Own But Where I Have Stopped Reinvesting Dividends

The REIT market has been exhibiting positive momentum as the first interest rate cuts seem to have become very likely. This has pushed many REIT prices higher, especially for those names that embody specific fundamental strengths. In my portfolio, I hold two high quality REITs, which currently provide less attractive yields due to favorable share price movements.

2 REITs I Own But Where I Have Stopped Reinvesting Dividends

Essential Properties Realty Trust: Still Buyable, But The 'Bargain' Window Has Closed

Essential Properties Realty Trust operates in the e-commerce/recession-resilient property sector, with 96.4% ABR derived from triple-net leases. EPRT's Q2 2024 performance showed intense investment activity, a high occupancy rate, and solid AFFO per share growth. EPRT remains a strong player with positive investment spreads, occupancy rates, and an effective investment strategy.

Essential Properties Realty Trust: Still Buyable, But The 'Bargain' Window Has Closed

Essential Properties: Interest Rate Cuts Should Boost This REIT

Essential Properties Realty Trust offers stability and growth potential with a diverse portfolio of single tenant properties. EPRT has a well-supported dividend yield of 4% with an average growth CAGR of 5.7% over the last five years. Future dividend growth can be supported by FFO. EPRT's portfolio strength lies in its exposure to service-based businesses, retail, experience-focused, and industrials, with a high occupancy rate and long lease terms.

Essential Properties: Interest Rate Cuts Should Boost This REIT

Essential Properties: Not Essential To My Portfolio

Essential Properties Trust benefits from sale and leaseback trend, with a focus on single-tenant properties across 49 states in the U.S. Stable tenant profile with long-term leases, recession and e-commerce resilient businesses, and diversified geographical presence are traits to like about the company. Strong balance sheet, low cost of debt, and improving leverage reduces risks, but an expensive valuation at 16.3x P/AFFO, limits potential upside for investors.

Essential Properties: Not Essential To My Portfolio

Essential Properties Grows on Strong Operations, Finances

Strong tenant relationships have Essential Properties Realty Trust, Inc. (EPRT) increasing its funds from operations.

Essential Properties Grows on Strong Operations, Finances

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