Essential Properties Realty Trust, Inc. Increases Quarterly Dividend to $0.275 per Share, a 1.9% Increase Over Prior Quarter

Rhea-AI Summary

Essential Properties Realty Trust declared a quarterly cash dividend of $0.275 per share for Q4 2022, with an annualized amount of $1.10, reflecting a $0.02 increase from the previous year. The dividend payment is scheduled for January 13, 2023, to shareholders recorded by December 30, 2022. As of September 30, 2022, the Company owned 1,572 properties, boasting a 99.8% lease occupancy and a weighted average lease term of 14.0 years.

Positive

• Quarterly dividend of $0.275 per share enhances shareholder income.
• Annualized dividend of $1.10 represents a $0.02 increase over the previous year.
• 99.8% lease occupancy indicates strong demand for properties.

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 fourth quarter of 2022. On an annualized basis, this dividend of $1.10 per share of common stock represents an increase of $0.02 per share over the previous annualized dividend. The dividend is payable on January 13, 2023, to stockholders of record as of the close of business on December 30, 2022.

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 September 30, 2022, the Company’s portfolio consisted of 1,572 freestanding net lease properties with a weighted average lease term of 14.0 years and a weighted average rent coverage ratio of 4.2x. In addition, as of September 30, 2022, the Company’s portfolio was 99.8% leased to 329 tenants operating 486 different concepts in 16 industries across 48 states.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221201005127/en/

Investor/Media:

Essential Properties Realty Trust, Inc.

Daniel Donlan

Senior Vice President, Capital Markets

609-436-0619

info@essentialproperties.com

Source: Essential Properties Realty Trust, Inc.

FAQ

When is the next dividend payment for EPRT?

The next dividend payment for EPRT is scheduled for January 13, 2023.

What is the dividend amount declared by EPRT?

EPRT declared a quarterly cash dividend of $0.275 per share.

How much has EPRT increased its annual dividend?

EPRT increased its annual dividend by $0.02, bringing it to $1.10 per share.

What is the lease occupancy rate of EPRT's properties?

EPRT's properties have a lease occupancy rate of 99.8%.