Essential Properties Realty Trust Stock Price, News & Analysis

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

Essential Properties Realty Trust, Inc. (NYSE: EPRT) has announced the release date for its third quarter 2024 operating results. The company will disclose its financial performance for the quarter ending September 30, 2024, after the market closes on Wednesday, October 23, 2024. Following this, Essential Properties will host an earnings conference call and audio webcast on Thursday, October 24, 2024, at 10:00 a.m. Eastern Time to discuss the results.

Investors and interested parties can access the webcast through the company's website at www.essentialproperties.com. For those participating via telephone, the domestic dial-in number is 877-407-9208, while international callers can use 201-493-6784. A playback of the conference call will be available using the numbers 844-512-2921 (domestic) and 412-317-6671 (international) with the replay pin 13749125.

Essential Properties Realty Trust (NYSE: EPRT) has declared a quarterly cash dividend of $0.29 per share for the third quarter of 2024. This equates to an annualized dividend of $1.16 per share of common stock. The dividend will be paid on October 11, 2024, to stockholders of record as of the close of business on September 30, 2024. This announcement demonstrates the company's commitment to providing regular returns to its shareholders, which is particularly relevant for income-focused investors in the real estate investment trust (REIT) sector.

Essential Properties (NYSE: EPRT) released its Q2 2024 results, reporting a net income per share of $0.29 and AFFO per share of $0.43. Investments amounted to $333.9 million at an 8.0% cap rate. The company reiterated its 2024 AFFO guidance range of $1.72 to $1.75 per share.

Key highlights include a 17% decrease in net income per share, 9% increase in FFO per share, and core FFO per share rising by 7%. Essential Properties raised $137 million through its ATM program, with a pro forma net debt to annualized adjusted EBITDAre ratio of 3.8x at quarter-end.

YTD, investments totaled $582.7 million, while net income per share decreased by 11%. The company also raised $256.2 million through a follow-on offering and $190.4 million via its ATM program. In July, it secured a $450 million term loan with a 4.99% interest rate.