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.
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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.