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, Inc. (NYSE: EPRT) is an internally managed REIT that acquires, owns and manages primarily single-tenant, freestanding commercial properties under long-term net leases. Its tenants operate service-oriented or experience-based businesses, and the company reports a large, highly leased portfolio with a long weighted average remaining lease term and a broad mix of tenant concepts across many U.S. states.
This news page aggregates company announcements, earnings releases and other updates related to EPRT. Readers can follow Essential Properties’ quarterly and annual operating results, including disclosures on net income, Funds from Operations (FFO), Adjusted Funds from Operations (AFFO), investment and disposition activity, capitalization rates, and leverage and liquidity metrics. The company’s releases also describe portfolio statistics such as property counts, occupancy, rent coverage ratios and the share of properties subject to master leases.
In addition to financial results, Essential Properties issues news about capital markets activity, such as public debt offerings, at-the-market equity program usage, follow-on equity offerings and changes to its revolving credit facility. The company also announces board and management changes, including the election of new independent directors and the appointment of senior executives, along with related governance details and indemnification arrangements.
Dividend declarations are another recurring theme in EPRT’s news flow, with the board of directors announcing quarterly cash dividends on common stock and any changes to the dividend rate. Investors and researchers can use this page to review Essential Properties’ press releases and related disclosures over time, providing context on how the company manages its net lease portfolio, finances growth and communicates with the market.
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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.
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.
Essential Properties Realty Trust, Inc. (EPRT) reported fourth quarter net income per share of $0.25, marking a 4% increase year-over-year. The company achieved a record investment of $328.4 million at a 7.5% weighted average cash cap rate. For the full year 2022, EPRT's net income increased by 21% to $0.99 per share, while Adjusted Funds from Operations (AFFO) rose by 14% to $1.53 per share. The company maintains a solid balance sheet with nearly $700 million in available liquidity and reiterates its 2023 AFFO guidance of $1.58 to $1.64 per share.
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.