EPRT Stock Price & Analysis

Essential Properties Realty Trust Inc

EPRT

Essential Properties Realty Trust Inc

31.700

-0.524(-1.626%)6M

EPRT Stock Price Chart

YTD

EPRT Key Stats

High

31.760

Vol

2.49M

Low

30.540

Amount

78.62M

Open

30.710

VWAP

31.51

Mkt Cap

5.95B

EV/EBITDA(TTM)

27.38

EPRT Company Profile

Essential Properties Realty Trust, Inc. is an internally managed real estate investment trust (REIT). The Company owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. The Company has a diversified portfolio that focuses on properties leased to tenants in businesses, including car washes, restaurants (primarily quick service restaurants and casual dining), early childhood education, medical and dental services, convenience stores, automotive services, equipment rental and sales, grocery, entertainment, industrial, and health and fitness. The Company’s portfolio consists of about 1,873 freestanding net lease properties with a weighted average lease term of 14 years and a weighted average rent coverage ratio of 3.8x. In addition, the Company’s portfolio is leased to about 374 tenants operating 588 different concepts in 16 industries across 48 states.

EPRT Technical Analysis

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EPRT Technical Analysis

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EPRT Why It Moves

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Should I Buy EPRT

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EPRT News Sentiment

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EPRT Fundamental Analysis

buy

Moderate Buy

Buy

Hold

Sell

High

38.00

Averages

34.94

Low

32.00

Analyst

Rating

Action

Price Target

Date

Rating Reason

Scotiabank

Greg McGinniss

Hold

Maintains

$33 → $32

2025-02-28

B. Riley Securities

John Massocca

Strong Buy

→

Hold

Downgrades

$30 → $34

2025-02-19

Barclays

Richard Hightower

Buy

Maintains

$36 → $35

2025-02-04

Barclays

Richard Hightower

Buy

Initiates

$36

2024-12-17

Barclays

Deutsche Bank

Omotayo Okusanya

Strong Buy

Initiates

$38

2024-12-11

Deutsche

Analyst	Rating	Action	Price Target	Date	Rating Reason

Scotiabank Greg McGinniss	Hold	Maintains	$33 → $32	2025-02-28
B. Riley Securities John Massocca	Strong Buy → Hold	Downgrades	$30 → $34	2025-02-19	B.
Barclays Richard Hightower	Buy	Maintains	$36 → $35	2025-02-04
Barclays Richard Hightower	Buy	Initiates	$36	2024-12-17	Barclays
Deutsche Bank Omotayo Okusanya	Strong Buy	Initiates	$38	2024-12-11	Deutsche

EPRT Earnings Analysis

Essential Properties Realty Trust, Inc. Corporation (EPRT.N) Q3 2024 Earnings Conference Call

Positive

AFFO Growth Increase: 1. Strong AFFO Growth: The company reported an AFFO per share of $0.43 for Q3 2024, marking a 2% increase compared to Q3 2023, and a total AFFO of $77.9 million, which is up 17% year-over-year.
Investment Activity Overview: 2. High Investment Activity: Essential Properties invested $308 million through 37 transactions in Q3 2024, achieving a weighted average cash yield of 8.1%, which is an increase of 50 basis points from the previous year.
Strong Tenant Stability: 3. Robust Portfolio Performance: The company ended the quarter with 2,053 properties that were 99.9% leased, with a weighted average lease term of 14.1 years, indicating strong tenant stability and long-term cash flow.
Tenant Profitability Ratio: 4. Healthy Tenant Coverage: The weighted average unit level rent coverage ratio was 3.6x, reflecting strong profitability among tenants at the unit level, which supports the sustainability of rental income.
Strong Liquidity Position: 5. Solid Liquidity Position: The company maintained a liquidity of $1.2 billion and a pro forma leverage of 3.5x, positioning it well for future growth and investment opportunities.

Negative

AFFO Per Share Decline: 1. Decreased AFFO per Share: The AFFO per share for Q3 2024 was $0.43, which, while a 2% increase year-over-year, reflects only a modest growth rate compared to previous quarters, indicating potential stagnation in earnings growth.
Equity Dilution Impact: 2. Increased Dilution from Equity Issuance: The company faced a headwind of approximately $0.01 to AFFO per share due to the treasury stock method related to unsettled forward equity, with an estimated total dilution reaching $0.02 for the full year 2024.
Tenant Profitability Risk: 3. Tenant Coverage Ratio Decline: The weighted average unit level rent coverage ratio decreased to 3.6x from previous levels, indicating a decline in tenant profitability and potential risk in the portfolio.
Rising General & Administrative Costs: 4. High G&A Expenses: Total G&A expenses increased to $28 million to $31 million for 2025, reflecting a rise in operational costs that could impact profitability if not managed effectively.
Conservative Acquisition Outlook: 5. Reduced Acquisition Guidance: The company provided a conservative acquisition guidance of $250 million per quarter moving forward, down from previous levels, indicating a potential slowdown in growth and investment activity.

Positive

AFFO Growth Increase: 1. Strong AFFO Growth: The company reported an AFFO per share of $0.43 for Q3 2024, marking a 2% increase compared to Q3 2023, and a total AFFO of $77.9 million, which is up 17% year-over-year.
Investment Activity Overview: 2. High Investment Activity: Essential Properties invested $308 million through 37 transactions in Q3 2024, achieving a weighted average cash yield of 8.1%, which is an increase of 50 basis points from the previous year.
Strong Tenant Stability: 3. Robust Portfolio Performance: The company ended the quarter with 2,053 properties that were 99.9% leased, with a weighted average lease term of 14.1 years, indicating strong tenant stability and long-term cash flow.
Tenant Profitability Ratio: 4. Healthy Tenant Coverage: The weighted average unit level rent coverage ratio was 3.6x, reflecting strong profitability among tenants at the unit level, which supports the sustainability of rental income.
Strong Liquidity Position: 5. Solid Liquidity Position: The company maintained a liquidity of $1.2 billion and a pro forma leverage of 3.5x, positioning it well for future growth and investment opportunities.

Negative

AFFO Per Share Decline: 1. Decreased AFFO per Share: The AFFO per share for Q3 2024 was $0.43, which, while a 2% increase year-over-year, reflects only a modest growth rate compared to previous quarters, indicating potential stagnation in earnings growth.
Equity Dilution Impact: 2. Increased Dilution from Equity Issuance: The company faced a headwind of approximately $0.01 to AFFO per share due to the treasury stock method related to unsettled forward equity, with an estimated total dilution reaching $0.02 for the full year 2024.
Tenant Profitability Risk: 3. Tenant Coverage Ratio Decline: The weighted average unit level rent coverage ratio decreased to 3.6x from previous levels, indicating a decline in tenant profitability and potential risk in the portfolio.
Rising General & Administrative Costs: 4. High G&A Expenses: Total G&A expenses increased to $28 million to $31 million for 2025, reflecting a rise in operational costs that could impact profitability if not managed effectively.
Conservative Acquisition Outlook: 5. Reduced Acquisition Guidance: The company provided a conservative acquisition guidance of $250 million per quarter moving forward, down from previous levels, indicating a potential slowdown in growth and investment activity.

EPRT News

2.0

03-11NASDAQ.COM

Notable Two Hundred Day Moving Average Cross - EPRT

8.0

03-10NASDAQ.COM

Daily Dividend Report: AMAT,PGR,EPRT,EGP,ESP

8.0

03-10Newsfilter

Essential Properties Realty Trust, Inc. Announces Quarterly Dividend of $0.295 per Share for the First Quarter of 2025

8.0

03-10SeekingAlpha

Essential Properties declares $0.295 dividend

4.0

02-28Benzinga

Scotiabank Maintains Sector Perform on Essential Properties, Lowers Price Target to $32

EPRT FAQs

Should I buy or sell EPRT Stock?

Based on the analysis of EPRT's stock performance and recent trends, it is currently below the 200-day moving average, indicating bearish momentum. However, the stable dividend yield of 3.65% may make it a hold for income-focused investors.

Sell if you are looking to reduce exposure to underperforming assets. Hold if you value the consistent dividend yield.