Welcome to our dedicated page for Essential Properties Realty Trust news (Ticker: EPRT), a resource for investors and traders seeking the latest updates and insights on Essential Properties Realty Trust stock.
Essential Properties Realty Trust reports recurring REIT developments around a portfolio of primarily freestanding, single-tenant commercial properties net leased on long-term terms to service-oriented and experience-based businesses. Company updates commonly cover property acquisitions, dispositions, portfolio occupancy, lease duration, tenant rent coverage, and geographic and tenant-concept diversification.
Recurring announcements also include quarterly operating results, FFO, Core FFO and AFFO metrics, dividends and dividend tax treatment, leverage and liquidity updates, investor presentations, ATM activity, public common stock offerings, forward sale agreements, and uses of capital through its operating partnership.
Essential Properties Realty Trust (NYSE: EPRT) announced a 1.8% increase in its quarterly cash dividend, now set at $0.29 per share for the second quarter of 2024. This brings the annualized dividend to $1.16 per share, reflecting a $0.02 increase from the previous rate. The dividend will be payable on July 12, 2024, to shareholders on record as of June 28, 2024.
Red Robin Gourmet Burgers (NASDAQ: RRGB) reported its fiscal first-quarter results ending April 21, 2024. Total revenue was $388.5 million, down $29.3 million from the previous year. Comparable restaurant revenue fell by 6.5%. Net loss widened to $9.5 million from $3.3 million last year. Adjusted EBITDA dropped to $12.2 million from $35.9 million.
Despite early second-quarter improvements, the company initiated a $21.2 million debt repayment and launched a new loyalty program on May 22. In a sale-leaseback transaction, Red Robin generated net proceeds of $23.4 million from ten restaurant properties.
Guidance for fiscal 2024 includes total revenue between $1.250 billion and $1.275 billion, with a slight decline in comparable restaurant revenue. Adjusted EBITDA is projected at $60-$70 million.
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