diff --git a/Gemfile.lock b/Gemfile.lock
index a4a55eb..4a00a02 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -1,8 +1,8 @@
 PATH
   remote: .
   specs:
-    factory_bot_rails (5.0.1)
-      factory_bot (~> 5.0.0)
+    factory_bot_rails (5.0.2)
+      factory_bot (~> 5.0.2)
       railties (>= 4.2.0)
 
 GEM
@@ -72,7 +72,7 @@ GEM
     diff-lcs (1.3)
     erubi (1.7.1)
     execjs (2.7.0)
-    factory_bot (5.0.0)
+    factory_bot (5.0.2)
       activesupport (>= 4.2.0)
     ffi (1.9.25)
     ffi (1.9.25-java)
diff --git a/NEWS.md b/NEWS.md
index d998d45..f9cd2c5 100644
--- a/NEWS.md
+++ b/NEWS.md
@@ -3,6 +3,11 @@ there might not be any notable changes in new versions of this project.
 
 # NEWS
 
+## 5.0.2 (April 14, 2019)
+* Bugfix: Reload factory\_bot whenever the application changes to avoid holding
+  onto stale object references
+* Bugfix: Avoid watching project root when no factory definitions exist
+
 ## 5.0.1 (February 9, 2019)
 * Bugfix: Avoid watching files and directories that don't exist (to avoid a
   file watching bug in Rails https://github.com/rails/rails/issues/32700)
@@ -10,7 +15,7 @@ there might not be any notable changes in new versions of this project.
 ## 5.0.0 (February 1, 2019)
 * Added: calling reload! in the Rails console will reload any factory definition files that have changed
 * Added: support for custom generator templates
-* Added: definition_file_paths configuration option, making it easier to place factories in custom locations
+* Added: `definition_file_paths` configuration option, making it easier to place factories in custom locations
 * Changed: namespaced models are now generated inside a directory matching the namespace
 * Changed: added newline between factories generated into the same file
 * Removed: support for EOL version of Ruby and Rails
@@ -25,7 +30,7 @@ there might not be any notable changes in new versions of this project.
 * No notable changes
 
 ## 4.8.2 (October 20, 2017)
-* Rename factory_girl_rails to factory_bot_rails
+* Rename factory\_girl\_rails to factory\_bot\_rails
 
 ## 4.7.0 (April 1, 2016)
 * No notable changes
@@ -42,7 +47,7 @@ there might not be any notable changes in new versions of this project.
 ## 4.2.1 (February 8, 2013)
 * Fix bug when configuring FG and RSpec fixture directory
 * Remove debugging
-* Require factory_girl_rails explicitly in generator
+* Require factory\_girl\_rails explicitly in generator
 
 ## 4.2.0 (January 25, 2013)
 * Add appraisal and get test suite working reliably with turn gem
diff --git a/factory_bot_rails.gemspec b/factory_bot_rails.gemspec
index 8f5115f..a40343f 100644
--- a/factory_bot_rails.gemspec
+++ b/factory_bot_rails.gemspec
@@ -1,6 +1,6 @@
 Gem::Specification.new do |s|
   s.name        = "factory_bot_rails"
-  s.version     = "5.0.1"
+  s.version     = "5.0.2"
   s.authors     = ["Joe Ferris"]
   s.email       = "jferris@thoughtbot.com"
   s.homepage    = "https://github.com/thoughtbot/factory_bot_rails"
@@ -14,6 +14,6 @@ Gem::Specification.new do |s|
   s.executables   = []
   s.license       = "MIT"
 
-  s.add_runtime_dependency("factory_bot", "~> 5.0.0")
+  s.add_runtime_dependency("factory_bot", "~> 5.0.2")
   s.add_runtime_dependency("railties", ">= 4.2.0")
 end