** Essential Properties Realty Trust EPRT.N shares down 1.9% early Weds to $32.08 after $350 mln follow-on priced

** Princeton, New Jersey-based commercial net-lease REIT announced ~10.9 mln shares at $32.20 in connection with forward sale structure

** Offering, which was increased from 9.5 mln shares, priced at 1.5% discount to their last close

** Co entered into 2-yr forward sales agreements with joint bookrunners BofA, Mizuho, Truist and Wells Fargo, whereby upon settlement of the agreements it plans to use net proceeds for general purposes, including potential investments

** Forward sale enables the REIT to lock in funding at current stock price but postpones issuance of new shares and dilution of earnings until it needs the proceeds

** EPRT has ~209.9 mln shares outstanding

** With the move on the session, stock up 8% YTD

** 17 of 19 analysts rate EPRT "strong buy" or "buy", 2 "hold"; median PT of $36 unchanged over the past three months, per LSEG