Education
About Us
Working with TipRanks
Follow Us
Essential Properties Realty Trust Inc (EPRT)
NYSE:EPRT
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.32Last Year’s EPS
0.29Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operating and financial positives: raised AFFO guidance, double-digit AFFO per share growth vs. prior year, robust Q4 investment activity with attractive initial yields and long lease terms, very high occupancy (99.7%), strong rent coverage, low leverage (3.8x) and $1.4B of liquidity. Credit metrics and tenant diversification appeared healthy, and management emphasized disciplined, relationship-driven sourcing. Lowlights were limited and largely idiosyncratic or timing-related (one tenant bankruptcy representing ~20 bps of ABR, opportunistic low‑yield dispositions driven by tax-motivated buyers, modest same-store rent growth, and a one-time compensation reversal affecting GAAP comparability). Overall the positives materially outweigh the negatives, indicating a favorable outlook but with standard macro sensitivity around cap rates and competition.Company Guidance
Strong Quarterly and Operating Earnings
Reported GAAP net income of $68.3M and AFFO of $99.7M for the quarter. AFFO per share was $0.49, an increase of 9% versus 2024, consistent with the high end of prior guidance.
Raised 2026 AFFO per Share Guidance
Increased 2026 AFFO per share guidance to $1.99–$2.04, implying roughly 7% growth at the midpoint and ~8% at the high end versus the prior year.
Robust Investment Activity and Attractive Returns
Deployed $296.0M in Q4 across 34 transactions (58 properties) at a weighted average initial cash yield of 7.7% and a GAAP yield of 9.1%. Investments had a weighted average initial lease term of 19.4 years and average investment per property of ~$4.6M.
High Portfolio Occupancy and Resilient Credit Metrics
Portfolio occupancy was 99.7% with only six vacant properties. Same-store rent growth was 1.6% (consistent with prior quarter). Portfolio rent coverage remained strong at 3.6x and unit-level rent coverage for new investments was 4.7x.
Low Watch List and Limited Realized Credit Events
Credit watch list declined to under 1% quarter-over-quarter. Realized credit events were limited to one notable tenant issue (American Signature) that management expects will result in recovery within normal historical ranges.
Healthy Capital Position and Liquidity
Pro forma net debt to annualized adjusted EBITDAre of 3.8x and liquidity of $1.4B at quarter end. Income-producing gross assets exceeded $7.0B. Settled $359M of forward equity in the quarter, with $332M of unsettled forward equity remaining.
Dividend, Cash Generation and Cost Discipline
Declared a Q4 cash dividend of $0.31 representing a 63% AFFO payout ratio. Retained free cash flow after dividends totaled nearly $40M in Q4. Full-year cash G&A was $28.8M (5.1% of revenue), down from 5.4% in 2024.
Tenant Diversification and Low Concentration Risk
Top 10 tenants represented only 16.5% of ABR and top 20 represented 27.1% of ABR, reflecting industry-leading tenant diversification that supports downside protection.
Stable Market Pricing and Strong Pipeline
Management reports a stable cap rate environment (pricing and pipeline in the high-7% range) and record subsequent-quarter investment activity of over $200M, supporting the company’s investment guidance of $1.0B–$1.4B for the year.
Long-Dated Lease Profile
Portfolio weighted average lease term remained ~14 years (for the nineteenth consecutive quarter) with only 5.2% of annual base rent expiring over the next five years, supporting long-term cash flow visibility.
EPRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
EPRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 11, 2026 | $31.55 | $31.65 | +0.32% |
Oct 22, 2025 | $31.37 | $31.86 | +1.56% |
Jul 23, 2025 | $30.27 | $30.24 | -0.10% |
Apr 23, 2025 | $31.48 | $30.92 | -1.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Essential Properties Realty Trust Inc (EPRT) report earnings?
Essential Properties Realty Trust Inc (EPRT) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is Essential Properties Realty Trust Inc (EPRT) earnings time?
Essential Properties Realty Trust Inc (EPRT) earnings time is at Apr 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EPRT EPS forecast?
EPRT EPS forecast for the fiscal quarter 2026 (Q1) is 0.32.