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Essential Properties Realty Trust, Inc. (NYSE: EPRT) is a publicly-traded real estate investment trust (REIT) headquartered in Princeton, NJ. The company specializes in owning, acquiring, and managing single-tenant net lease (STNL) properties. Through sale-leaseback transactions, Essential Properties provides growth capital to middle-market companies with strong credit profiles and reliable operating histories.
Essential Properties focuses on tenants operating service-oriented and experience-based businesses across various industries, including restaurants, car washes, automotive services, convenience stores, gas stations, medical and veterinary services, early childhood education, movie theaters, entertainment venues, and health and fitness centers. As of March 31, 2018, the company's portfolio included 530 properties occupied by 127 tenants, spanning 112 different concepts in 15 industries and located across 42 states.
Essential Properties Realty Trust’s business model emphasizes long-term net leases, providing a stable income stream. The company targets properties that are fundamental to the tenant’s operations, ensuring higher tenant retention and lower vacancy risks.
Recent achievements include strategic sale-leaseback transactions, such as those with Red Robin Gourmet Burgers, Inc., which have helped to generate substantial proceeds used for debt repayment and further investment in high-quality properties. This strategy reflects Essential's commitment to maintaining a robust financial position and supporting tenant growth.
In addition to its core business, Essential Properties Realty Trust, Inc. actively manages its portfolio to optimize performance and maximize shareholder value. The company has established strong partnerships, ensuring a diversified and resilient portfolio that can withstand economic fluctuations.
For up-to-date news and developments, investors and stakeholders can follow the latest reports and announcements on EPRT's performance, strategic initiatives, and market activities.
Essential Properties Realty Trust (NYSE: EPRT) announced it will release its second quarter 2024 operating results on July 24, 2024, after market close. The company will hold an earnings conference call and audio webcast on July 25, 2024, at 10:00 a.m. ET to discuss the results.
Investors can access the webcast via the company's website. Domestic participants can dial 877-407-9208, and international participants can dial 201-493-6784 for the live call. A replay will be available, with domestic playback at 844-512-2921 and international playback at 412-317-6671, using PIN 13747626.
Essential Properties Realty Trust (NYSE: EPRT) announced a 1.8% increase in its quarterly cash dividend, now set at $0.29 per share for the second quarter of 2024. This brings the annualized dividend to $1.16 per share, reflecting a $0.02 increase from the previous rate. The dividend will be payable on July 12, 2024, to shareholders on record as of June 28, 2024.
Red Robin Gourmet Burgers (NASDAQ: RRGB) reported its fiscal first-quarter results ending April 21, 2024. Total revenue was $388.5 million, down $29.3 million from the previous year. Comparable restaurant revenue fell by 6.5%. Net loss widened to $9.5 million from $3.3 million last year. Adjusted EBITDA dropped to $12.2 million from $35.9 million.
Despite early second-quarter improvements, the company initiated a $21.2 million debt repayment and launched a new loyalty program on May 22. In a sale-leaseback transaction, Red Robin generated net proceeds of $23.4 million from ten restaurant properties.
Guidance for fiscal 2024 includes total revenue between $1.250 billion and $1.275 billion, with a slight decline in comparable restaurant revenue. Adjusted EBITDA is projected at $60-$70 million.
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