Essential Properties Realty Trust, Inc. Releases Inaugural Corporate Responsibility Report

Rhea-AI Summary

Essential Properties Realty Trust (NYSE:EPRT) has published its inaugural Corporate Responsibility Report for 2022, aligning it with the Sustainability Accounting Standards Board and the Task Force on Climate-related Financial Disclosures standards. President and CEO Pete Mavoides emphasized that achieving ESG goals is crucial for maximizing stockholder value. As of December 31, 2022, EPRT's portfolio comprised 1,653 net lease properties with an average lease term of 13.9 years and an average rent coverage ratio of 4.0x, demonstrating strong stability with a 99.9% leasing rate across 350 tenants and 538 concepts.

Positive

• Inaugural Corporate Responsibility Report highlights significant commitment to ESG.
• Portfolio includes 1,653 properties with a weighted average lease term of 13.9 years.
• High rent coverage ratio of 4.0x indicates strong financial stability.
• 99.9% of the portfolio is leased to 350 tenants across 48 states.

Negative

• None.

PRINCETON, N.J.--(BUSINESS WIRE)-- Today, Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company” or “EPRT”) released its inaugural Corporate Responsibility Report highlighting the Company’s Environmental, Social and Governance (ESG) initiatives and progress in 2022 (the ‘2022 Corporate Responsibility Report’). EPRT aligned its 2022 Corporate Responsibility Report with the Sustainability Accounting Standards Board and the Task Force on Climate-related Financial Disclosures standards.

“This 2022 Corporate Responsibility Report is an important step in our continued commitment to ESG,” said Pete Mavoides, President and CEO of EPRT. “We believe achieving our ESG goals will be a meaningful contributor to maximizing stockholder value.”

Essential Properties Realty Trust’s 2022 Corporate Responsibility Report is available on its corporate website at: https://essentialproperties.com/corporate-responsibility/

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/20230307006002/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 significance of EPRT's 2022 Corporate Responsibility Report?

EPRT's 2022 report outlines its commitment to Environmental, Social, and Governance initiatives, highlighting its alignment with major sustainability standards.

How many properties does EPRT manage as of December 31, 2022?

As of December 31, 2022, EPRT manages 1,653 freestanding net lease properties.

What is the average lease term for EPRT's properties?

The average lease term for EPRT's properties is 13.9 years.

What was the leasing rate of EPRT's portfolio at the end of 2022?

EPRT's portfolio was 99.9% leased to tenants as of December 31, 2022.

What does EPRT's rent coverage ratio indicate?

EPRT's average rent coverage ratio of 4.0x indicates strong financial stability and the ability of tenants to meet rental obligations.