Essential Properties Realty Trust, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 04:20 pm EDT
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Essential Properties Realty Trust, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 86.97 million compared to USD 66.53 million a year ago. Revenue was USD 91.66 million compared to USD 70.66 million a year ago. Net income was USD 45.91 million compared to USD 36.43 million a year ago. Basic earnings per share from continuing operations was USD 0.29 compared to USD 0.26 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to USD 0.26 a year ago.
For the nine months, sales was USD 246.96 million compared to USD 199.73 million a year ago. Revenue was USD 261.86 million compared to USD 212.23 million a year ago. Net income was USD 141.61 million compared to USD 98.78 million a year ago. Basic earnings per share from continuing operations was USD 0.94 compared to USD 0.74 a year ago. Diluted earnings per share from continuing operations was USD 0.94 compared to USD 0.74 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. 
