Sun Sep 15 11:00:54 UTC 2024: ## Texas School Fund Cuts Essential Properties Realty Stake, Analysts Remain Bullish

**AUSTIN, TEXAS – September 15, 2024** – The Texas Permanent School Fund Corp has trimmed its stake in Essential Properties Realty Trust, Inc. (NYSE: EPRT) by 11.8% in the second quarter, selling 16,133 shares. Despite the reduction, the fund still holds 120,418 shares worth approximately $3.34 million, representing 0.07% of the company.

This move comes amidst a period of positive sentiment surrounding Essential Properties, a real estate investment trust focused on single-tenant properties across the US. While the Texas School Fund lowered its position, several other hedge funds have increased their stakes in the company. Asset Dedication LLC, Principal Securities Inc., Heritage Wealth Advisors, CWM LLC, and GAMMA Investing LLC all made significant purchases of EPRT shares in recent quarters, highlighting the potential investors see in the company.

EPRT stock opened at $32.81 on Friday, boasting a market capitalization of $5.75 billion. The company’s recent performance has been positive, with a 50-day simple moving average of $30.52 and a 200-day simple moving average of $27.84. Additionally, Essential Properties Realty Trust announced a quarterly dividend of $0.29, payable on October 11th, reflecting a dividend yield of 3.54%.

Analysts remain optimistic about the company’s future prospects. UBS Group, Raymond James, Truist Financial, Goldman Sachs Group, and Wedbush all issued positive ratings and raised their price targets on EPRT shares in recent months. Currently, the average rating for EPRT is a “Moderate Buy,” with a target price of $31.73.

While CEO Peter M. Mavoides has sold shares of EPRT in recent transactions, these sales are likely unrelated to the company’s underlying performance and could be attributed to personal financial considerations.

Investors will be watching closely as Essential Properties Realty Trust continues its growth strategy, acquiring and managing single-tenant properties leased to a diverse range of middle-market businesses.

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