PRINCETON, N.J.--(BUSINESS WIRE)--Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today that its Board of Directors declared a quarterly cash dividend of $0.285 per share of common stock for the first quarter of 2024. This represents an annualized dividend of $1.14 per share of common stock. The dividend is payable on April 12, 2024, to stockholders of record as of the close of business on March 29, 2024. About Essential Properties Realty Trust, Inc. Essential Properties Real ...

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) (“Red Robin” or the “Company”), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced it completed a third Sale-Leaseback transaction with Essential Properties Realty Trust, Inc. (NYSE: EPRT) to sell and simultaneously lease-back ten owned properties. The transaction generated gross proceeds of approximately $24 million. The Company a ...

PRINCETON, N.J.--(BUSINESS WIRE)--Today, Essential Properties Realty Trust, Inc. (NYSE: EPRT) (the “Company” or “EPRT”) announced the promotion of two executives. Max Jenkins has been promoted to EVP, Head of Investments. AJ Peil, CFA has been promoted to EVP, Head of Asset Management. Pete Mavoides, the Company’s President and Chief Executive Officer, said, “ These promotions highlight the impressive performance of two of our senior leaders and serve as recognition for their contributions over their many ...

Tsokur Introduction The other day, I was playing around with my portfolio and calculating how well I would do financially if I had a 5%-yielding portfolio instead of a sub-3% like I currently have. The reason I do not have a high-yield portfolio is the fact that I'm not even 30 yet. For now, I want to focus on dividend growth instead of income, as I can always shift my portfolio toward income if needed. While I will go into depth in the future, I figured out that a 5.0% yield would allow me to retire in a l ...

Essential Properties Realty Trust, Inc. (NYSE:EPRT) Q4 2023 Earnings Conference Call February 15, 2024 10:00 AM ET Company Participants Rob Salisbury - Senior Vice President and Head of Capital Markets Pete Mavoides - President and Chief Executive Officer Mark Patten - Executive Vice President and Chief Financial Officer Conference Call Participants Connor Siversky - Wells Fargo Securities, LLC Carole Greenough - Bank of America Merrill Lynch Eric Borden - BMO Capital Markets Nate Crossett - BNP Paribas Exa ...

Essential Properties (EPRT) came out with quarterly funds from operations (FFO) of $0.42 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.39 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post FFO of $0.42 per share when it actually produced FFO of $0.42, delivering no surprise.Over the last four quarters, the company has not been able to surpass consensus FFO estimates.Essential Properties, whic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38530 Essential Properties Realty Trust, Inc. (Exact name of Registrant as specified in its Charter) Maryland 82-4005693 (State or ot ...

VioletaStoimenova Introduction Essential Properties (NYSE:EPRT) is now one of my favorite REITs because it is growing rapidly while its share price has not moved much in recent years. In addition, EPRT offers strong growth, favorable tenant metrics and good diversification, and has a strong balance sheet. I first published about Essential Properties in September 2021 and gave it a hold rating. What I like about Essential Properties is that they lease their properties to service-oriented tenants. These b ...

PRINCETON, N.J.--(BUSINESS WIRE)--Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today that 86.0340% of the dividends paid to common shareholders for the 2023 tax year are classified for federal income tax purposes as a taxable distribution. The tax attributes of the common stock dividends paid per share are outlined below. CUSIP: 29670E107 Record Date   Payment Date   Rate Per Share   Ordinary Dividends   Qualified Dividends (Amount included in Ord ...

Financial Data and Key Metrics Changes - The company reported an AFFO of $66.3 million for Q3 2023, an increase of 24% compared to the same period in 2022, and up over 7% from Q2 2023 [29] - Core FFO per share was $0.45 for Q3 2023, representing an 18% increase versus Q3 2022 [29] - Total G&A was approximately $7.2 million in Q3 2023, with cash G&A at $5 million, resulting in a cash G&A as a percentage of total revenue decreasing to 5.5% [12] Business Line Data and Key Metrics Changes - The company acquired 65 properties in Q3 2023, with an initial cash cap rate of 7.6% and an average annual rent escalation of 2% [5] - Same-store rent growth was 1.2%, a decrease of 30 basis points from the previous quarter, impacted by a bankruptcy of a gym operator [7] - The weighted average unit level rent coverage for tenants was 4.0 times, with only 3.1% of ABR having less than 1 times rent coverage [24] Market Data and Key Metrics Changes - The company ended the quarter with 1,793 properties, 99.8% leased to 363 tenants across 16 industries [24] - The largest industry by ABR was car washes at 15.3%, down 30 basis points from the previous quarter [113] - The company sold 10 properties for $28.5 million in net proceeds at a weighted average cash yield of 6.5% [27] Company Strategy and Development Direction - The company aims to selectively take advantage of favorable market pricing to recycle capital and reduce industry concentrations [10] - The focus remains on maintaining a conservative leverage profile and strong liquidity position, with 2024 AFFO per share guidance set at $1.71 to $1.75, implying a 5% growth rate [23] - The company emphasizes portfolio diversity as a risk mitigation tool, focusing on non-credit rated tenants and middle market operators [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the predictability of the business, citing a stable portfolio of long-dated leases and significant free cash flow [36] - The company anticipates continued healthy portfolio performance and improving pricing on new investments, despite a volatile capital markets backdrop [110] - Management noted that consumer discretionary industries tend to perform stably through consumer stress, with casual dining being the most vulnerable [68] Other Important Information - The company closed on a $450 million delayed draw term loan, utilizing $200 million to retire a near-term debt maturity [14] - Total liquidity at the end of Q3 was approximately $989.6 million, up $356 million from the previous quarter [32] - The company has nearly $100 million of forecasted retained free cash flow available for investment without additional reliance on capital markets [110] Q&A Session Summary Question: What gives confidence in the 2024 guidance? - Management highlighted the predictability of the business, stable portfolio, and significant free cash flow as key factors supporting the guidance [36] Question: What are the investment spread assumptions for 2024 guidance? - Management indicated that investment cap rates are expected to remain in the high-7% range [42] Question: Which industries are expected to be most impacted by a weaker consumer? - Management noted that casual dining tends to be hit hardest during economic downturns, but they expect overall portfolio stability [92]