Essential Properties Realty Trust Stock Price, News & Analysis

Essential Properties Realty Trust (NYSE: EPRT) reported strong Q1 2025 financial results with net income per share of $0.29, up 4% year-over-year. The company achieved AFFO per share of $0.45, representing a 7% increase.

Key highlights include:

• Completed $307.7 million in investments across 48 properties at a 7.8% weighted average cash cap rate
• Maintained a robust portfolio of 2,138 properties with 99.7% occupancy rate
• Raised $292.3 million through a follow-on offering and $20.6 million via ATM program
• Achieved a pro forma net debt to Annualized Adjusted EBITDAre of 3.4x

The company reiterated its 2025 AFFO guidance of $1.85 to $1.89 per share, with projected investment volume of $900 million to $1.1 billion. A quarterly dividend of $0.295 per share was declared, representing an annualized dividend of $1.18 per share.

Essential Properties Realty Trust (NYSE: EPRT) has announced it will release its first quarter 2025 operating results after market close on Wednesday, April 23, 2025. The company will host an earnings conference call and audio webcast the following day, Thursday, April 24, 2025, at 10:00 a.m. Eastern Time.

Investors can access the webcast through the company's Investor Relations website at www.essentialproperties.com. Participants are advised to register at least 15 minutes before the scheduled start time. For telephone participation, domestic callers can dial 800-274-8461, while international callers should use 203-518-9814, with the conference ID: EPRT Conference Call.

Essential Properties Realty Trust (NYSE: EPRT) has announced key executive promotions to strengthen its leadership team. Max Jenkins has been elevated to EVP, Chief Operating Officer, while AJ Peil, CFA has been promoted to EVP, Chief Investment Officer. Additionally, Robert Salisbury, CFA has been promoted to SVP, Head of Corporate Finance and Strategy.

According to CEO Pete Mavoides, these promotions recognize the executives' contributions as business partners and reflect the company's strategic expansion of its executive team to support sustained growth and enhance long-term shareholder value.

Essential Properties Realty Trust (NYSE: EPRT) has announced the pricing of an upsized public offering of 8,200,000 shares of common stock, with expected gross proceeds of approximately $254.2 million. The offering is set to close on March 20, 2025.

The company has entered into forward sale agreements with Wells Fargo Securities and BofA Securities as underwriters. The underwriters have a 30-day option to purchase up to an additional 1,230,000 shares. The company expects to physically settle the forward sale agreements within approximately 18 months from the prospectus supplement date.

The net proceeds will be contributed to EPRT's operating partnership in exchange for OP Units, intended for general corporate purposes and potential future investments.

Essential Properties Realty Trust (NYSE: EPRT) has announced a public offering of 8,000,000 shares of common stock through forward sale agreements with Wells Fargo Securities and BofA Securities. The underwriters have a 30-day option to purchase up to an additional 1,200,000 shares.

The forward purchasers will borrow and sell the shares to underwriters, with physical settlement expected within approximately 18 months. The company won't receive immediate proceeds from the share sale by forward purchasers but intends to contribute any net proceeds from the settlement to its operating partnership in exchange for OP Units, which will be used for general corporate purposes and potential future investments.

Essential Properties Realty Trust (NYSE: EPRT) has declared a quarterly cash dividend of $0.295 per share for the first quarter of 2025. The dividend payment represents an annualized dividend of $1.18 per share of common stock. Shareholders of record as of March 31, 2025, will receive the dividend payment on April 11, 2025.

Essential Properties Realty Trust (EPRT) reported its Q4 2024 results with net income per share of $0.30 (down 3%) and AFFO per share of $0.45 (up 7%). The company completed $333.4 million in investments at an 8.0% weighted average cash cap rate during Q4, and $1.2 billion for the full year 2024.

Key highlights include dispositions of 24 properties for net proceeds of $60.4 million in Q4, and an updated 2025 AFFO guidance range of $1.85 to $1.89 per share. The company's portfolio comprised 2,104 properties with a 99.7% weighted average occupancy and 14.0-year weighted average lease term. EPRT amended its credit facility, increasing revolving credit capacity to $1.0 billion with maturity extended to February 2030.

The company maintained strong liquidity with $1.4 billion available on a pro forma basis and a conservative leverage ratio of 3.8x net debt to Adjusted EBITDAre.

Essential Properties Realty Trust (NYSE: EPRT) has announced a significant expansion of its credit facility to $2.3 billion. The amended facility includes a $1.0 billion unsecured revolving credit facility and three existing term loans totaling $1.3 billion.

The revolving credit facility matures in February 2029, with an option to extend until February 2030. This represents a substantial increase from the previous $600 million facility that was set to mature in February 2026.

The amendment includes improvements to the rate structure and financial covenants, enhancing the company's financial flexibility and strengthening its balance sheet. Wells Fargo Securities and BofA Securities served as Joint Bookrunners, with Wells Fargo Bank as Administrative Agent and Bank of America as Syndication Agent.

Essential Properties Realty Trust (NYSE: EPRT) has disclosed its dividend tax classification for 2024. The company reported that 92.6580% of dividends paid to common shareholders are classified as taxable distributions. The company paid quarterly dividends throughout 2024, with amounts increasing from $0.2850 per share in Q1 to $0.2950 per share in Q4.

Each dividend payment includes ordinary dividends, qualified dividends, Section 199A dividends, and non-dividend distributions. The Q4 dividend, payable on January 14, 2025, represents the highest quarterly payment at $0.2950 per share, of which $0.2733 is classified as ordinary dividends.