Essential Properties Realty Trust Stock Price, News & Analysis

Essential Properties Realty Trust reported strong financial results for Q1 2023, with net income per share of $0.29, a 38% increase from the previous year, and AFFO per share rising 5% to $0.40. The company closed investments totaling $207.1 million with a weighted average cash cap rate of 7.6%. It also updated its AFFO guidance for 2023 to a range of $1.60 to $1.64 per share. Key portfolio metrics include 99.8% occupancy and a weighted average lease term of 13.9 years. The company maintains strong liquidity with $774.6 million available. Dispositions included 17 properties with net proceeds of $37.2 million. Overall, the results indicate a positive outlook supported by a robust investment pipeline and stable portfolio performance.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) announced its upcoming first quarter operating results for the period ended March 31, 2023. The results will be released after market close on April 26, 2023. A conference call to discuss these results is scheduled for April 27, 2023, at 10:00 a.m. Eastern Time. Interested parties can access the live audio webcast through the Investor Relations section of the company's website at www.essentialproperties.com.

For participation via telephone, dial in five minutes early at Domestic: 866-652-5200 or International: 412-317-6060. Playback of the conference call will be available using the code 10177646.

As of December 31, 2022, Essential Properties owned 1,653 properties leased to 350 tenants across 48 states.

NETSTREIT Corp. (NYSE: NTST) has appointed Daniel P. Donlan as its new Chief Financial Officer and Treasurer, effective April 10, 2023. Donlan brings extensive experience in capital markets and the net lease industry, having previously served as Senior Vice President at Essential Properties Realty Trust, Inc. (NYSE: EPRT). His role will encompass corporate finance, accounting, treasury, and investor relations. CEO Mark Manheimer expressed confidence in Donlan's ability to support the company's growth and investment strategies while acknowledging former Interim CFO Lori Wittman for her contributions.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) declared a quarterly cash dividend of $0.275 per share for Q1 2023, equating to an annualized dividend of $1.10. This dividend will be payable on April 14, 2023 to shareholders on record as of March 31, 2023. The company, focused on acquiring and managing single-tenant properties, reported a portfolio of 1,653 properties with a weighted average lease term of 13.9 years and a rent coverage ratio of 4.0x. As of December 31, 2022, its properties were 99.9% leased across 48 states to 350 tenants.

Essential Properties Realty Trust (NYSE:EPRT) has published its inaugural Corporate Responsibility Report for 2022, aligning it with the Sustainability Accounting Standards Board and the Task Force on Climate-related Financial Disclosures standards. President and CEO Pete Mavoides emphasized that achieving ESG goals is crucial for maximizing stockholder value. As of December 31, 2022, EPRT's portfolio comprised 1,653 net lease properties with an average lease term of 13.9 years and an average rent coverage ratio of 4.0x, demonstrating strong stability with a 99.9% leasing rate across 350 tenants and 538 concepts.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) announced the pricing of a public offering of 7,700,000 shares of common stock at $24.60 per share, upsized from 7,000,000 shares. The offering, expected to close on February 22, 2023, is part of forward sale agreements with BofA Securities, Citigroup, and Wells Fargo Securities. The underwriters have a 30-day option to purchase an additional 1,155,000 shares. Proceeds will be contributed to the Company’s operating partnership for general corporate purposes, including future investments. The Company will not receive proceeds from the forward purchasers' sales.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) has initiated an underwritten public offering of 7,000,000 shares of its common stock, with an option for underwriters to purchase an additional 1,050,000 shares. The company plans to enter into forward sale agreements with BofA Securities, Citigroup, and Wells Fargo Securities, enabling the sale of shares through forward purchasers. The offering aims to support general corporate purposes, including potential future investments. However, the company will not receive any proceeds from the forward purchasers' sale of shares. The offering is registered with the SEC, and a prospectus supplement will be filed shortly.