Essential Properties Realty Trust, Inc. Increases Quarterly Dividend to $0.24 per Share, a 4.3% Increase Over Prior Quarter

Rhea-AI Summary

Essential Properties Realty Trust (EPRT) has declared a quarterly cash dividend of $0.24 per share for Q4 2020, marking an annualized increase to $0.96 per share, up by $0.04 from the previous year. This dividend will be payable on January 15, 2021 to shareholders of record by December 31, 2020. As of September 30, 2020, EPRT's portfolio comprised 1,096 strategically leased properties, achieving a remarkable 99.4% leasing rate across 214 tenants in 43 states, showcasing strong business positioning.

Positive

• Quarterly dividend increased to $0.24 per share.
• Annualized dividend now $0.96 per share, up $0.04.
• 99.4% portfolio leased with a weighted average lease term of 14.6 years.

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 $0.24 per share of common stock for the fourth quarter of 2020. This equates to an annualized dividend of $0.96 per share of common stock and represents an increase of $0.04 per share over the previous annualized dividend. The dividend is payable on January 15, 2021 to stockholders of record as of the close of business on December 31, 2020.

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, 2020, the Company’s portfolio consisted of 1,096 freestanding net lease properties with a weighted average lease term of 14.6 years and a weighted average rent coverage ratio of 2.8x. As of the same date, the Company’s portfolio was 99.4% leased to 214 tenants operating 300 different concepts in 16 industries across 43 states.