Essential Properties Q1 AFFO per share $0.42, raises 2024 AFFO guidance to $1.72-$1.75

ESSENTIAL PROPERTIES REALTY TRUST, INC.

2024-Q1 EPS reported $0.28 revenue$103,501,000

Q1 net income $47.1M ($0.28/diluted share); AFFO $71.1M ($0.42/share, up 5% YoY).
Closed $248.8M in investments (79 properties) at 8.1% weighted avg cash cap rate, highest Q1 ever.
Updated 2024 AFFO guidance to $1.72-$1.75 per share from $1.70-$1.75, raising low end.
Net debt to annualized adjusted EBITDAre 4.1x (3.6x pro forma); raised $309.6M equity via follow-on and ATM.
Portfolio 99.9% occupied, 1,937 properties, 14.1 yr WALT, 3.9x rent coverage; dividend $0.285/share.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ESSENTIAL PROPERTIES REALTY TRUST, INC. reported three months ended March 31, 2024 results: net income $0.28, EPS $0.28. Guidance raised.

Period: three months ended March 31, 2024
Net income: $0.28
EPS: $0.28
Guidance: raised
Result: reported results

Exact text from the filing

On April 24, 2024, Essential Properties Realty Trust, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the three months ended March 31, 2024.

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ESSENTIAL PROPERTIES REALTY TRUST, INC. filing history →

Source: SEC EDGAR

accession 0001728951-24-000071

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