---
schema_version: "secwatch.filing_event.v1"
accession: "0001728951-23-000045"
form_type: "8-K"
ticker: "EPRT"
cik: "0001728951"
company_name: "ESSENTIAL PROPERTIES REALTY TRUST, INC."
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T13:13:23.156161+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Essential Properties Q1 net income $0.29/share, AFFO $0.40; raises 2023 AFFO guidance

## Summary
- Net income per share $0.29 (up 38% YoY), AFFO per share $0.40 (up 5% YoY).
- Invested $207.1M in 57 properties at 7.6% weighted avg cash cap rate.
- Portfolio occupancy 99.8%, same-store rent growth 1.6%, rent coverage 3.9x.
- Updated 2023 AFFO guidance to $1.60-$1.64 per share (from $1.58-$1.64).
- Raised $217.8M in follow-on offering at $24.60/share in Feb 2023.

## SEC filing metadata
- accession: 0001728951-23-000045
- form_type: 8-K
- ticker: EPRT
- cik: 0001728951
- company_name: ESSENTIAL PROPERTIES REALTY TRUST, INC.
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1728951/000172895123000045/0001728951-23-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1728951/000172895123000045/eprt-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001728951-23-000045
- JSON: https://secwatch.observer/filing/0001728951-23-000045.json
- Plain text: https://secwatch.observer/filing/0001728951-23-000045.txt

## Key facts
- Earnings Releases
  ESSENTIAL PROPERTIES REALTY TRUST, INC. reported three months ended March 31, 2023 results: EPS $0.29.
  - Period: three months ended March 31, 2023
  - EPS: $0.29
  - Result: reported results
  source text: First Quarter 2023 Financial and Operating Highlights: Operating Results (compared to First Quarter 2022): • Investments (57 properties) $ Invested $207.1 million Weighted Avg Cash Cap Rate 7.6% • Dispositions (17 properties) Net Proceeds $37.2 million Weighted Avg Cash Cap Rate 6.1% • Net Income per Share Increased by 38% $0.29 • Funds from Operations ("FFO") per Share Increased by 10% $0.43 • Core Funds from Operations ("Core FFO") per Share Increased by 5% $0.42 • Adjusted Funds from Operations ("AFFO") per Share Increased by 5% $0.40
  evidence_url: https://www.sec.gov/Archives/edgar/data/1728951/000172895123000045/0001728951-23-000045-index.htm
- Earnings Releases
  ESSENTIAL PROPERTIES REALTY TRUST, INC. updated its 2023 guidance (raised).
  - Period: 2023
  - Guidance: raised
  - Result: guidance update
  source text: The Company is updating its range for expected 2023 AFFO per share on a fully diluted basis to $1.60 to $1.64 from its previously announced range of $1.58 to 1.64.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1728951/000172895123000045/0001728951-23-000045-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.