Essential Properties Realty Trust Stock Price, News & Analysis

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.

Essential Properties Realty Trust (NYSE: EPRT) has announced it will release its fourth quarter 2024 operating results after market close on February 12, 2025. The company will host an earnings conference call and audio webcast the following day, February 13, 2025, at 10:00 a.m. Eastern Time. Investors can access the webcast through the company's Investor Relations website and are advised to register 15 minutes before the scheduled start time. The conference call will be available via telephone, with domestic and international dial-in numbers provided, and includes a replay option with a dedicated pin number.

Essential Properties Realty Trust (NYSE: EPRT) has announced a quarterly dividend increase for Q4 2024. The company's Board of Directors declared a quarterly cash dividend of $0.295 per share, representing an approximate 2% increase from the previous quarter. The dividend will be paid on January 14, 2025, to stockholders of record as of December 31, 2024. On an annualized basis, this new quarterly dividend amounts to $1.18 per share, marking a $0.02 increase from the previous annual dividend rate.

Essential Properties Realty Trust (EPRT) reported third quarter 2024 results with net income per share of $0.27 (down 7%) and AFFO per share of $0.43 (up 2%). The company closed $307.6 million in investments at an 8.1% weighted average cash cap rate. Key highlights include:

- Completed 57 property investments totaling $307.6 million
- Raised $312.4 million through ATM program at $31.04/share
- Secured new $450 million term loan at 4.9% rate
- Portfolio includes 2,053 properties with 99.9% occupancy
- Issued 2025 AFFO guidance of $1.84-$1.89 per share