Essential Properties Q3 AFFO $0.43/sh (+2%); invests $308M at 8.1% cap rate; 2025 guidance $1.84-$1.89

ESSENTIAL PROPERTIES REALTY TRUST, INC.

2024-Q3 EPS reported $0.84 revenue$329,901,000

Q3 diluted AFFO per share $0.43, up 2% YoY; net income per share $0.27, down 7%.
Invested $307.6M in 57 properties at 8.1% weighted avg cash cap rate; raised $312.4M via ATM at $31.04/share.
2025 AFFO guidance $1.84-$1.89; reaffirms 2024 AFFO guidance $1.72-$1.75.
Pro forma net debt to annualized adj. EBITDAre 3.5x; total liquidity $1.2B.
Board declared Q3 dividend $0.29/share (unchanged, annualized $1.16).

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