Essential Properties Realty Trust, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 04:20 pm EDT
Share
Essential Properties Realty Trust, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 81.82 million compared to USD 67.09 million a year ago. Revenue was USD 86.52 million compared to USD 71.45 million a year ago. Net income was USD 52.8 million compared to USD 35.65 million a year ago. Basic earnings per share from continuing operations was USD 0.35 compared to USD 0.27 a year ago. Diluted earnings per share from continuing operations was USD 0.35 compared to USD 0.27 a year ago.
For the six months, sales was USD 159.99 million compared to USD 133.2 million a year ago. Revenue was USD 170.2 million compared to USD 141.57 million a year ago. Net income was USD 95.7 million compared to USD 62.35 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to USD 0.48 a year ago. Diluted earnings per share from continuing operations was USD 0.64 compared to USD 0.48 a year ago.
Essential Properties Realty Trust, Inc. is an internally managed real estate investment trust (REIT). The Company owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. The Company has a diversified portfolio that focuses on properties leased to tenants in businesses, including car washes, restaurants (primarily quick service restaurants and casual dining), early childhood education, medical and dental services, convenience stores, automotive services, equipment rental and sales, grocery, entertainment, industrial, and health and fitness. The Companyâs portfolio consists of about 1,873 freestanding net lease properties with a weighted average lease term of 14 years and a weighted average rent coverage ratio of 3.8x. In addition, the Companyâs portfolio is leased to about 374 tenants operating 588 different concepts in 16 industries across 48 states.
ESSENTIAL PROPERTIES REALTY TRUST, INC. 
