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Essential Properties Realty Trust Inc (EPRT)
NYSE:EPRT
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.31Last Year’s EPS
$0.31Same Quarter Last Year
Strong Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -6.96%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
The call highlighted strong portfolio performance, robust investment activity, and growth in AFFO per share. However, challenges such as the impact of hurricanes, increased G&A expenses, and potential cap rate compression were noted. The overall sentiment is balanced with positive growth and some challenges ahead.Company Guidance
During the third quarter 2024 earnings call for Essential Properties Realty Trust (EPRT), the company provided guidance for 2025, projecting an AFFO per share range of $1.84 to $1.89, suggesting over 7% growth at the midpoint. The guidance anticipates investments between $900 million and $1.1 billion, with expectations of slight cap rate compression in the coming quarters. The company highlighted a strong portfolio performance, maintaining a high occupancy rate of 99.9% across 2,053 properties, with a weighted average lease term of 14.1 years. The company's balance sheet remains robust, with pro forma leverage at 3.5x and liquidity of $1.2 billion. For 2024, they reiterated an AFFO per share guidance range of $1.72 to $1.75, despite a $0.01 headwind from unsettled forward equity shares, which they expect to decrease to a negligible level in 2025. Cash G&A expenses are projected to be between $28 million and $31 million for 2025, reflecting efficiency gains.Strong Portfolio Performance
The portfolio continued to exhibit strong operating trends with high occupancy, healthy same-store growth, and improving credit trends. The weighted average lease term increased to 14.1 years, and the weighted average unit level rent coverage ratio was 3.6x.
Robust Investment Activity
Invested $308 million through 37 transactions with a weighted average cash yield of 8.1%, up 50 basis points from a year ago. The investments had a weighted average initial lease term of 17.2 years and an average GAAP yield of 9.1%.
AFFO Per Share Growth
AFFO per share of $0.43, a 2% increase versus Q3 2023. Total AFFO totaled $77.9 million, up 17% from the same period in 2023.
Strong Balance Sheet
Pro forma leverage of 3.5x and liquidity of $1.2 billion. Income-producing gross assets reached $5.8 billion and expected to eclipse $6 billion by year-end.
Tenant Diversity and Low Concentration
Largest tenant represents 4.3% of ABR, and top 10 tenants account for 17.7% of ABR. Disposed nine properties for $17 million at a 6.8% weighted average cash yield.
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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
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EPRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $33.89 | $33.36 | -1.56% |
| Jul 24, 2024 | $30.11 | $29.68 | -1.43% |
| Apr 24, 2024 | $25.83 | $25.24 | -2.28% |
| Feb 14, 2024 | $23.47 | $23.81 | +1.45% |
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.
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FAQ
When does Essential Properties Realty Trust Inc (EPRT) report earnings?
Essential Properties Realty Trust Inc (EPRT) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Essential Properties Realty Trust Inc (EPRT) earnings time?
Essential Properties Realty Trust Inc (EPRT) earnings time is at Feb 12, 2025, TBA Not 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 2024 (Q4) is $0.31.
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