Essential Properties Realty Trust Stock Price, News & Analysis

Essential Properties Realty Trust (NYSE: EPRT) reported its Q1 2021 results, highlighting a $197.8 million investment in 74 properties, down 7% in net income per share to $0.14, while Funds from Operations (FFO) per share increased by 7% to $0.30. The company also raised $64.9 million through its ATM program. Subsequent to Q1, EPRT invested $45.6 million in 19 properties and disposed of 4 properties for $4.8 million. The firm's leverage improved with a net debt to Annualized Adjusted EBITDA decreased to 4.1x after a follow-on offering that raised $185.5 million.

Essential Properties Realty Trust (NYSE: EPRT) will release its Q1 2021 operating results on May 3, 2021, after market close. A conference call to discuss these results is scheduled for May 4, 2021, at 10:00 a.m. EDT. Investors can access the call via the Company's Investor Relations website. As of December 31, 2020, Essential Properties owned 1,181 net lease properties, 99.7% leased, with a weighted average lease term of 14.5 years and a rent coverage ratio of 2.9x.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) has priced a public offering of 7,150,000 shares of common stock at $23.50 each, up from an initial offering size of 6,500,000 shares. The underwriters have a 30-day option to purchase an additional 1,072,500 shares. Proceeds will be used to repay revolving credit and for general corporate purposes, including potential investments. The offering is set to close on April 15, 2021. Major banks involved include Citigroup, BofA Securities, and Barclays, among others.

Essential Properties Realty Trust (NYSE: EPRT) has launched a public offering of 6,500,000 shares of common stock, with an option for underwriters to buy an additional 975,000 shares. The proceeds will be used to pay down its revolving credit facility and for general corporate purposes, including future investments. Citigroup, BofA Securities, and Barclays are the offering's joint book-running managers. The offering is conducted under the Company's effective shelf registration with the SEC.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) declared a quarterly cash dividend of $0.24 per share, totaling an annualized dividend of $0.96. This dividend will be payable on April 15, 2021, to stockholders of record as of March 31, 2021. Additionally, the company announced its 2021 Annual Meeting of Stockholders scheduled for May 17, 2021, for stockholders of record as of March 25, 2021 to vote on relevant matters.

Essential Properties Realty Trust (NYSE: EPRT) reported its financial results for Q4 2020 and the full year. Key highlights include a 72% decrease in net income per share to $0.05 and a 30% drop for the full year to $0.44. Funds from Operations (FFO) per share fell 7% in Q4 to $0.25 and dropped 1% year-over-year to $1.08. The company invested $244.1 million in 108 properties in Q4 and $602.8 million in 234 properties for the year. Additionally, the portfolio remains stable with a 99.7% lease rate and strong January rent collections of 95%.

Essential Properties Realty Trust (EPRT) expects 2021 Adjusted Funds from Operations (AFFO) to be between $1.22 and $1.26 per share, with 95% of Cash ABR collected for January 2021. CEO Pete Mavoides highlighted the stability of the portfolio and a robust investment trajectory. In Q4 2020, investments totaled approximately $242 million at a 7.1% cash yield. The company plans to release Q4 and full-year results on February 23, 2021, followed by an earnings call on February 24, 2021.

Essential Properties Realty Trust (EPRT) has declared a quarterly cash dividend of $0.24 per share for Q4 2020, marking an annualized increase to $0.96 per share, up by $0.04 from the previous year. This dividend will be payable on January 15, 2021 to shareholders of record by December 31, 2020. As of September 30, 2020, EPRT's portfolio comprised 1,096 strategically leased properties, achieving a remarkable 99.4% leasing rate across 214 tenants in 43 states, showcasing strong business positioning.

Essential Properties Realty Trust (NYSE: EPRT) reported its Q3 2020 results with a net income per diluted share of $0.13, a 28% decrease. However, Funds from Operations (FFO) rose 11% to $0.30. The company raised $219.6 million through equity offerings and achieved a 99.4% leased portfolio. Cash and equivalents, along with credit capacity, totaled $589.4 million. Investments reached $358.7 million across 126 properties. The weighted average cash cap rate stood at 7.2%. The cash dividend declared was $0.23, paid on October 15, 2020.