Essential Properties Realty Trust Q2 preliminary AFFO per share up; raises FY guidance

ESSENTIAL PROPERTIES REALTY TRUST, INC.

ESSENTIAL PROPERTIES REALTY TRUST, INC.

EPRT

0.00


Overview

  • US net lease REIT's preliminary Q2 net income per share rose 6% yr/yr to $0.34

  • Q2 AFFO per share increased 9% yr/yr to $0.50

  • Company raised 2026 AFFO and investment guidance


Outlook

  • Company raises 2026 AFFO per share guidance to $2.01-$2.05 from $2.00-$2.05

  • Company lifts 2026 investment volume guidance to $1.2 bln-$1.5 bln from $1.1 bln-$1.5 bln

  • Company maintains 2026 cash G&A expense guidance at $30 mln-$34 mln


Result Drivers

  • INVESTMENT ACTIVITY - Q2 results driven by $332.4 mln invested in 103 properties at a 7.8% weighted average cash cap rate

  • PORTFOLIO PERFORMANCE - High occupancy and long lease terms supported results, with 99.6% occupancy and 14.3-year weighted average lease term

  • CAPITAL MARKETS EXECUTION - Debt and equity capital needs largely addressed for the remainder of the year, per CEO Pete Mavoides


Company press release: ID:nBw8SNdw8a


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 EPS

$0.34

Q2 Adjusted FFO Per Share

$0.50


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the diversified reits peer group is "buy"

  • Wall Street's median 12-month price target for Essential Properties Realty Trust Inc is $37.00, about 11.2% above its July 21 closing price of $33.26

  • The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 22 three months ago


Reuters Recommended Reads

  • July 22 - Netstreit Q2 net income per share up 50%, co lifts FY AFFO guidance

  • July 22 - Getty Realty Q2 rental income rises on rental hikes, lifts 2026 AFFO outlook

  • July 20 - LXP Industrial Trust agrees to $5.2 billion deal by Brookfield, CPP Investments


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