secwatch.observer — SEC 8-K summary
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Issuer:     ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT)
CIK:        0001728951
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001728951-24-000071
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1728951/000172895124000071/0001728951-24-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1728951/000172895124000071/eprt-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001728951-24-000071

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer