Essential Properties Realty: Strong Growth and Strategic Acquisitions Justify Buy RatingEPRT reported a solid 2Q25 on strong acquisition execution of $334.0M with cap rates expanding +10bps q/q, leading to sector-leading +7.0% growth. Although, 2Q25 AFFOps was -1¢ below the Street, EPRT raised FY25 AFFOps (in-line), and acquisition guidance by +10% to $1.1B. Despite the raise and healthy pipeline, the acquisition target implies full-year deceleration of -10.1%, which may be viewed as underwhelming, with expectations high. Rent coverage remains healthy, but declined -10bps q/q to 3.4x.