Essential Properties Realty Trust Stock Price, News & Analysis

Essential Properties Realty Trust (NYSE: EPRT) announced its fourth quarter 2022 operating results release on February 15, 2023, after market close. A conference call will follow on February 16, 2023, at 10:00 a.m. ET, to discuss these results. Interested parties can access the webcast through the Company’s Investor Relations website, with a recommendation to log in 15 minutes early. The call will also be available via phone, with domestic and international numbers provided. Essential Properties Realty Trust specializes in acquiring and managing net leased properties, boasting a portfolio of 1,572 properties as of September 30, 2022.

Essential Properties Realty Trust declared a quarterly cash dividend of $0.275 per share for Q4 2022, with an annualized amount of $1.10, reflecting a $0.02 increase from the previous year. The dividend payment is scheduled for January 13, 2023, to shareholders recorded by December 30, 2022. As of September 30, 2022, the Company owned 1,572 properties, boasting a 99.8% lease occupancy and a weighted average lease term of 14.0 years.

Essential Properties Realty Trust (EPRT) reported strong third quarter results with a net income per share of $0.26, up 13% year-over-year, and an adjusted funds from operations (AFFO) per share of $0.38, reflecting a 15% increase. The company closed investments totaling $195.5 million at a weighted average cash cap rate of 7.1%. EPRT projects 2023 AFFO per share guidance of $1.58 to $1.64. The balance sheet maintains substantial liquidity with nearly $900 million available, supporting future investments amid market uncertainties.

Essential Properties Realty Trust (NYSE: EPRT) will release its third quarter operating results on October 27, 2022, after market close. A conference call to discuss the results is scheduled for October 28, 2022, at 11:00 a.m. ET. Investors can attend via live audio webcast on the company’s website. As of June 30, 2022, EPRT's portfolio included 1,561 properties with a 99.9% lease rate across 46 states.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) announced a quarterly cash dividend of $0.27 per share for Q3 2022, amounting to an annualized dividend of $1.08. The dividend will be paid on October 14, 2022 to stockholders of record by September 30, 2022. As of June 30, 2022, EPRT's portfolio includes 1,561 properties, 99.9% leased to 322 tenants across 46 states, with a weighted average lease term of 13.8 years and a rent coverage ratio of 4.0x.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) announced a public offering of 7,600,000 shares of common stock at $23.00 per share, upsizing from a previous offering of 6,500,000 shares. The underwriters have a 30-day option to purchase up to an additional 1,140,000 shares. The net proceeds will be used to repay outstanding amounts on its revolving credit facility and for general corporate purposes, including future investments. The offering is set to close on August 4, 2022, pending customary conditions.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) has initiated an underwritten public offering of 6,500,000 shares of its common stock, with a potential additional 975,000 shares available to underwriters. Proceeds will be used to repay outstanding amounts on its revolving credit facility and for general corporate purposes, including potential future investments. Wells Fargo Securities, BofA Securities, and Citigroup are the joint book-running managers for the offering. The offering is made under the Company’s effective shelf registration statement with the SEC.

Essential Properties Realty Trust reported significant financial growth for Q2 2022, with net income per share rising 35% to $0.27 and AFFO per share up 12% to $0.38. The company closed investments worth $175.7 million at a 7.0% cap rate, while net proceeds from dispositions totaled $26.1 million. They have raised equity grossing $32.6 million through their ATM program. The company has increased its 2022 AFFO guidance to between $1.52 and $1.54 per share, reflecting strong portfolio performance, high occupancy rates, and solid rent growth.