Essential Properties(US:EPRT)2025-10-23 14:00Portfolio Performance - The portfolio is 99.8% leased, demonstrating stability[11] - Same-store rent growth has averaged 1.5% over the last four quarters, indicating consistent performance[11] - Unit-level coverage is strong at 3.6x, with approximately 99% of ABR required to report unit-level P&Ls, reflecting healthy tenant performance[11] - Only 4.5% of ABR is expiring through 2029, with a coverage of 4.0x, indicating low lease expiration risk[11] Balance Sheet & Liquidity - The company issued $400 million of 5.400% senior unsecured notes due 2035, strengthening the balance sheet[11] - Approximately $14 million of common equity was raised through the ATM Program[11] - Proforma Net Debt / Annualized Adjusted EBITDAre is 3.8x at 3Q'25-end, indicating low leverage[11] - The company has ~$1.4 billion of pro forma liquidity, providing excellent financial flexibility[11] Investment & Disposition Activity - Investments of approximately $370 million were closed at an initial cash yield of approximately 8.0%[11] - Dispositions of approximately $11 million were closed at a 6.6% cash yield, demonstrating accretive capital recycling[11]