Essential Properties Realty Trust Stock Price, News & Analysis

Essential Properties Realty Trust (NYSE: EPRT) reported strong second-quarter results for 2021, achieving an 82% increase in net income per share to $0.20 and a 23% rise in FFO per share to $0.32. Investment activity was robust, with $223.2 million invested across 94 properties, primarily through sale-leaseback transactions. The company maintained a high rent collection rate of 99%, with July collections nearing 100%. Essential Properties raised its 2021 AFFO guidance to a range of $1.30 to $1.32, up from prior estimates of $1.24 to $1.28 per share.

Essential Properties Realty Trust (NYSE: EPRT) will release its second quarter operating results on July 28, 2021, after market close. The earnings conference call is scheduled for July 29, 2021, at 11:00 a.m. EDT. Investors can access a live audio webcast on the Company's website, with details for participation provided. As of March 31, 2021, Essential Properties owned 1,240 properties, boasting 99.1% leasing and an average lease term of 14.3 years. The Company focuses on single-tenant properties leased to service-oriented businesses.

Essential Properties Realty Trust (NYSE: EPRT) announced a public offering of $400 million in 2.950% Senior Notes due 2031, priced at 99.800% of the principal. The settlement is expected on June 28, 2021. Proceeds will be used to repay secured debt, credit facility amounts, and for general corporate purposes. The offering is under an effective shelf registration with the SEC. BofA Securities and others are managing the offering. The company emphasizes that this does not constitute a sale offer in jurisdictions where it would be unlawful.

Essential Properties Realty Trust (NYSE: EPRT) projects its 2021 Adjusted Funds from Operations (AFFO) at $1.24 to $1.28 per share. The company declared a quarterly cash dividend of $0.25 per share for Q2 2021, marking a 4.2% increase from Q1. The dividend is payable on July 15, 2021, to shareholders on record as of June 30, 2021. CEO Pete Mavoides expressed confidence in the company's investment pipeline and portfolio performance, leading to an increase in AFFO guidance and dividend payout, reflecting a solid foundation for shareholder growth.

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.