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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) will announce its fourth quarter operating results for the period ending December 31, 2021, after market close on February 16, 2022. A conference call will be held on February 17, 2022, at 10:00 a.m. EST to discuss these results. Those interested can join the webcast via the Investor Relations section of the Company's website. As of September 30, 2021, EPRT's portfolio included 1,397 net lease properties, boasting a 99.9% lease rate and a weighted average lease term of 13.9 years.
Essential Properties Realty Trust, Inc. (NYSE: EPRT) has declared a quarterly cash dividend of $0.26 per share for Q4 2021. This marks an increase of $0.04 from the previous annualized dividend, bringing the total to $1.04 per share. The dividend will be payable on January 13, 2022, to stockholders of record by December 31, 2021. As of September 30, 2021, EPRT's portfolio included 1,397 leased properties, achieving a 99.9% lease rate and an average lease term of 13.9 years.
Essential Properties Realty Trust (EPRT) reported strong financial results for Q3 2021, achieving a net income per share of $0.23, up 77% year-over-year. The AFFO per share increased 22% to $0.33. The company closed investments totaling $230.8 million at a 7.0% cash cap rate. For 2022, EPRT issued AFFO guidance between $1.46 and $1.50 per share. The company retains solid liquidity, with $427.5 million available, and has a portfolio occupancy rate of 99.9%.
Essential Properties Realty Trust (NYSE: EPRT) will disclose its third quarter operating results for the period ending September 30, 2021, on November 1, 2021, after market close. The company will host a conference call and audio webcast on November 2, 2021, at 11:00 a.m. Eastern Daylight Time to discuss these results. Interested parties can access the live broadcast via the Investor Relations section of the company's website. The company holds a portfolio of 1,325 properties, with a 99.8% lease rate across various sectors.
Essential Properties Realty Trust, Inc. (NYSE: EPRT) announced a quarterly cash dividend of $0.25 per share for Q3 2021, amounting to an annualized dividend of $1.00 per share. This dividend will be payable on October 14, 2021 to stockholders of record by the close of business on September 30, 2021. As of June 30, 2021, EPRT's portfolio comprised 1,325 leased properties, with a 99.8% lease occupancy rate and a weighted average lease term of 14 years.
Essential Properties Realty Trust (NYSE: EPRT) reported strong second-quarter results for 2021, achieving an 82% increase in net income per share to $0.20 and a 23% rise in FFO per share to $0.32. Investment activity was robust, with $223.2 million invested across 94 properties, primarily through sale-leaseback transactions. The company maintained a high rent collection rate of 99%, with July collections nearing 100%. Essential Properties raised its 2021 AFFO guidance to a range of $1.30 to $1.32, up from prior estimates of $1.24 to $1.28 per share.
Essential Properties Realty Trust (NYSE: EPRT) will release its second quarter operating results on July 28, 2021, after market close. The earnings conference call is scheduled for July 29, 2021, at 11:00 a.m. EDT. Investors can access a live audio webcast on the Company's website, with details for participation provided. As of March 31, 2021, Essential Properties owned 1,240 properties, boasting 99.1% leasing and an average lease term of 14.3 years. The Company focuses on single-tenant properties leased to service-oriented businesses.
Essential Properties Realty Trust (NYSE: EPRT) announced a public offering of $400 million in 2.950% Senior Notes due 2031, priced at 99.800% of the principal. The settlement is expected on June 28, 2021. Proceeds will be used to repay secured debt, credit facility amounts, and for general corporate purposes. The offering is under an effective shelf registration with the SEC. BofA Securities and others are managing the offering. The company emphasizes that this does not constitute a sale offer in jurisdictions where it would be unlawful.
Essential Properties Realty Trust (NYSE: EPRT) projects its 2021 Adjusted Funds from Operations (AFFO) at $1.24 to $1.28 per share. The company declared a quarterly cash dividend of $0.25 per share for Q2 2021, marking a 4.2% increase from Q1. The dividend is payable on July 15, 2021, to shareholders on record as of June 30, 2021. CEO Pete Mavoides expressed confidence in the company's investment pipeline and portfolio performance, leading to an increase in AFFO guidance and dividend payout, reflecting a solid foundation for shareholder growth.
Essential Properties Realty Trust (NYSE: EPRT) reported its Q1 2021 results, highlighting a $197.8 million investment in 74 properties, down 7% in net income per share to $0.14, while Funds from Operations (FFO) per share increased by 7% to $0.30. The company also raised $64.9 million through its ATM program. Subsequent to Q1, EPRT invested $45.6 million in 19 properties and disposed of 4 properties for $4.8 million. The firm's leverage improved with a net debt to Annualized Adjusted EBITDA decreased to 4.1x after a follow-on offering that raised $185.5 million.
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