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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, Inc. (NYSE: EPRT) has initiated an underwritten public offering of 7,000,000 shares of its common stock, with an option for underwriters to purchase an additional 1,050,000 shares. The company plans to enter into forward sale agreements with BofA Securities, Citigroup, and Wells Fargo Securities, enabling the sale of shares through forward purchasers. The offering aims to support general corporate purposes, including potential future investments. However, the company will not receive any proceeds from the forward purchasers' sale of shares. The offering is registered with the SEC, and a prospectus supplement will be filed shortly.
Essential Properties Realty Trust, Inc. (EPRT) reported fourth quarter net income per share of $0.25, marking a 4% increase year-over-year. The company achieved a record investment of $328.4 million at a 7.5% weighted average cash cap rate. For the full year 2022, EPRT's net income increased by 21% to $0.99 per share, while Adjusted Funds from Operations (AFFO) rose by 14% to $1.53 per share. The company maintains a solid balance sheet with nearly $700 million in available liquidity and reiterates its 2023 AFFO guidance of $1.58 to $1.64 per share.
Essential Properties Realty Trust (NYSE: EPRT) announced its fourth quarter 2022 operating results release on February 15, 2023, after market close. A conference call will follow on February 16, 2023, at 10:00 a.m. ET, to discuss these results. Interested parties can access the webcast through the Company’s Investor Relations website, with a recommendation to log in 15 minutes early. The call will also be available via phone, with domestic and international numbers provided. Essential Properties Realty Trust specializes in acquiring and managing net leased properties, boasting a portfolio of 1,572 properties as of September 30, 2022.
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.
Essential Properties Realty Trust (EPRT) reported strong third quarter results with a net income per share of $0.26, up 13% year-over-year, and an adjusted funds from operations (AFFO) per share of $0.38, reflecting a 15% increase. The company closed investments totaling $195.5 million at a weighted average cash cap rate of 7.1%. EPRT projects 2023 AFFO per share guidance of $1.58 to $1.64. The balance sheet maintains substantial liquidity with nearly $900 million available, supporting future investments amid market uncertainties.
Essential Properties Realty Trust (NYSE: EPRT) will release its third quarter operating results on October 27, 2022, after market close. A conference call to discuss the results is scheduled for October 28, 2022, at 11:00 a.m. ET. Investors can attend via live audio webcast on the company’s website. As of June 30, 2022, EPRT's portfolio included 1,561 properties with a 99.9% lease rate across 46 states.
Essential Properties Realty Trust, Inc. (NYSE: EPRT) announced a quarterly cash dividend of $0.27 per share for Q3 2022, amounting to an annualized dividend of $1.08. The dividend will be paid on October 14, 2022 to stockholders of record by September 30, 2022. As of June 30, 2022, EPRT's portfolio includes 1,561 properties, 99.9% leased to 322 tenants across 46 states, with a weighted average lease term of 13.8 years and a rent coverage ratio of 4.0x.
Essential Properties Realty Trust, Inc. (NYSE: EPRT) announced a public offering of 7,600,000 shares of common stock at $23.00 per share, upsizing from a previous offering of 6,500,000 shares. The underwriters have a 30-day option to purchase up to an additional 1,140,000 shares. The net proceeds will be used to repay outstanding amounts on its revolving credit facility and for general corporate purposes, including future investments. The offering is set to close on August 4, 2022, pending customary conditions.
Essential Properties Realty Trust, Inc. (NYSE: EPRT) has initiated an underwritten public offering of 6,500,000 shares of its common stock, with a potential additional 975,000 shares available to underwriters. Proceeds will be used to repay outstanding amounts on its revolving credit facility and for general corporate purposes, including potential future investments. Wells Fargo Securities, BofA Securities, and Citigroup are the joint book-running managers for the offering. The offering is made under the Company’s effective shelf registration statement with the SEC.
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