Essential Properties Realty Trust, Inc. Announces Quarterly Dividend of $0.275 per Share for the First Quarter of 2023

Rhea-AI Summary

Essential Properties Realty Trust, Inc. (NYSE: EPRT) declared a quarterly cash dividend of $0.275 per share for Q1 2023, equating to an annualized dividend of $1.10. This dividend will be payable on April 14, 2023 to shareholders on record as of March 31, 2023. The company, focused on acquiring and managing single-tenant properties, reported a portfolio of 1,653 properties with a weighted average lease term of 13.9 years and a rent coverage ratio of 4.0x. As of December 31, 2022, its properties were 99.9% leased across 48 states to 350 tenants.

Positive

• Quarterly dividend of $0.275 per share reflects company confidence.
• Annualized dividend of $1.10 per share enhances shareholder income.
• Portfolio of 1,653 net lease properties shows strong asset base.
• 99.9% occupancy rate indicates successful leasing strategy.

Negative

• None.

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 $0.275 per share of common stock for the first quarter of 2023. This represents an annualized dividend of $1.10 per share of common stock. The dividend is payable on April 14, 2023 to stockholders of record as of the close of business on March 31, 2023.

About Essential Properties Realty Trust, Inc.
Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of December 31, 2022, the Company’s portfolio consisted of 1,653 freestanding net lease properties with a weighted average lease term of 13.9 years and a weighted average rent coverage ratio of 4.0x. In addition, as of December 31, 2022, the Company’s portfolio was 99.9% leased to 350 tenants operating 538 different concepts in 16 industries across 48 states.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230309005780/en/

Investor/Media:

Essential Properties Realty Trust, Inc.

Daniel Donlan

Senior Vice President, Capital Markets & Portfolio Management

609-436-0619

info@essentialproperties.com

Source: Essential Properties Realty Trust, Inc.

FAQ

What is the dividend amount declared by Essential Properties Realty Trust for Q1 2023?

Essential Properties Realty Trust declared a dividend of $0.275 per share for Q1 2023.

When is the dividend payable to shareholders?

The dividend is payable on April 14, 2023.

What is the record date for the dividend payment?

The record date for the dividend payment is March 31, 2023.

What is the total number of properties owned by Essential Properties Realty Trust?

Essential Properties Realty Trust owns a total of 1,653 properties.

What is the average lease term of properties owned by Essential Properties Realty Trust?

The average lease term of properties is 13.9 years.