Essential Properties Realty Trust, Inc. (EPRT)
Summary
Essential Properties Realty Trust Is Getting Close To A Buy Rating
EPRT remains a hold, with business fundamentals outpacing peers but valuation not yet compelling enough to upgrade. EPRT's portfolio is highly diversified, with the top 10 tenants accounting for just 15.2% of ABR, mitigating concentration risk. EPRT targets 8% AFFO growth for 2026, supported by robust investment activity and sector-leading investment spreads of 1.4%.
Essential Properties Q2 Earnings: Still Looking Expensive
Essential Properties Realty Trust, Inc. maintains sector-leading growth and operational resilience, but its valuation remains elevated, limiting near-term upside. EPRT's Q2 saw $300M invested at a 7.8% yield, driving 18% AFFO growth and 99.6% occupancy, with guidance raised to $2.01–$2.05 AFFO per share. The company retains a conservative 64% AFFO payout ratio, supporting a defensive balance sheet and dividend protection amid rising acquisition activity.
Essential Properties Realty Trust Q2 Earnings Call Highlights
Essential Properties Realty Trust NYSE: EPRT raised its 2026 outlook after reporting second-quarter results that management said were supported by stronger investment activity, stable portfolio fundamentals and a well-capitalized balance sheet.
Essential Properties Realty Trust, Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Curtis Ellergodt Rothschild Investment LLC | 200 | $6,315.43 | $6,148 | -$167.43 | -2.65% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 15,211 | $454,040 | $465,912.93 | $11,872.93 | 2.61% |
| PER Paul E. Rasmussen SIT INVESTMENT ASSOCIATES Inc. | 37,225 | $965,954.74 | $1.12M | $153,028.76 | 15.84% |
| ABB Alexander Bjornager Bonde Danske Bank A/S | 100 | $2,966 | $3,064 | $98 | 3.3% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 226 | $6,859.91 | $6,793.56 | -$66.35 | -0.97% |
Essential Properties Realty Trust, Inc. (EPRT) FAQ
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Essential Properties Realty Trust, Inc. Profile
| Diversified REITs Industry | Real Estate Sector | Peter Mavoides CEO | NYSE Exchange | 29670E107 CUSIP |
| US Country | 56 Employees | 30 Jun 2026 Last Dividend | - Last Split | 21 Jun 2018 IPO Date |
Overview
Essential Properties Realty Trust, Inc., established in 2016 and based in Princeton, New Jersey, operates as a real estate company within the United States, focusing primarily on the acquisition, ownership, and management of single-tenant properties. As a real estate investment trust (REIT), it is designed to meet federal income tax requirements, avoiding federal corporate income taxes by distributing at least 90% of its taxable income to its stockholders. This strategic positioning allows the company to focus on serving middle-market companies across various industries, leveraging a portfolio of 1,451 properties as of December 31, 2021.
Products and Services
- Real Estate Acquisition - The core operation involves purchasing single-tenant properties, aligning with its strategic focus on bolstering its real estate portfolio across the United States.
- Property Management - Beyond acquisition, Essential Properties Realty Trust takes an active role in managing these properties, ensuring that their value is preserved and enhanced over time through meticulous oversight.
- Leasing to Middle-market Companies - This service is characterized by offering long-term leases to companies in the middle market. Thes leases span across diverse sectors including:
- Restaurants - By leasing properties to restaurant chains or individual eateries, the company supports dining establishments in securing prime locations.
- Car Washes and Automotive Services - Essential Properties provides spaces for automotive-related services, catering to the needs of car wash establishments and other automotive service providers.
- Medical and Dental Services - The company’s portfolio includes properties leased to healthcare providers, including medical and dental practices, facilitating their operation in accessible locations.
- Convenience Stores - By leasing to convenience stores, Essential Properties ensures that these essential services are conveniently located within communities.
- Equipment Rental - Supporting businesses in the equipment rental sector, the company provides properties suitably located for the easy rental and return of equipment.
- Entertainment - From cinemas to recreational centers, Essential Properties leases properties to various entertainment venues, contributing to local leisure and activity options.
- Early Childhood Education - Properties suited for schools and educational centers, particularly those focused on early childhood education, are part of the portfolio, supporting the foundational development of young learners.
- Grocery - The company leases properties to grocery stores, ensuring communities have access to essential food and household items.
- Health and Fitness - By providing spaces for gyms and fitness centers, Essential Properties supports the wellness and health of communities through accessible fitness options.
