Lumida
/EPRT
⌘K
Essential Properties Realty Trust Inc

Essential Properties Realty Trust Inc

EPRT
$33.33USD↑+1.25%+0.41 today

MARKET CAP

7.2B

P/E (TTM)

26.2x

FWD P/E

22.7x

DAY RANGE

$33 – $34

52W RANGE

$29
$35

AI Summary

Stalk
StalkMedium

In a Stage 2 advancing (post-pullback corrective repair), the medium-term bias for EPRT remains bullish on clear higher highs and higher lows with rising 9/21 EMAs supporting price, but the asset is currently extended above its EMAs with extreme overbought readings. Consistent with the Stable strategy, execution should be deferred for a shallow pullback into the rising EMAs or the breakout support zone around 31.8–31.3 for a higher-probability entry.

  • ↑Declared Q1 dividend of $0.32/share, AFFO payout ratio 62%
  • ↑Q1 AFFO $0.50/share (+11% YoY); 2026 AFFO guide $2.00–2.05/share
  • ↓Top-10 tenants account for ~16% of ABR; casual dining sectors weakening
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Essential Properties Realty Trust (EPRT) is a well-established real estate investment trust (REIT) that focuses on acquiring and managing single-tenant properties primarily through net lease structures. The company predominantly serves middle-market operators across diverse industries, facilitating sale-leaseback transactions that yield stable cash flows. EPRT has developed a reputation for maintaining strong relationships with tenants and strategic capital management, positioning itself effectively within the net lease sector.

Bull says

  • ↑Declared Q1 dividend of $0.32/share, AFFO payout ratio 62%
  • ↑Q1 AFFO $0.50/share (+11% YoY); 2026 AFFO guide $2.00–2.05/share
  • ↑Liquidity ~$1.5 B with net debt/EBITDA at 3.5x
  • ↑Portfolio occupancy 99.7%; top tenant <4% of rent; same-store rent growth 1.4%
  • ↑New investments yield 7.9% cash cap rate and 9.4% average gap yield
  • ↑High dividend yield, low volatility and prudent leverage support stability

Bear says

  • ↓Top-10 tenants account for ~16% of ABR; casual dining sectors weakening
  • ↓Macroeconomic volatility could strain consumer-driven tenant rent payments
  • ↓Negative earnings yield and low profitability metrics signal margin pressure
  • ↓Interest rate sensitivity may increase capital costs for acquisitions and refinancing
  • ↓Balance-sheet vulnerabilities may limit growth under economic stress
  • ↓Potential regulatory changes in net lease sector could impact tenants

Investment themes with EPRT

Retail REITs↑ +0.51%

KIM · REG · FRT

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 04-24-2026neutral

Transcript signals

Bull points

  • Overall, we were pleased with our first quarter results. The company generated AFFO per share totaling 50 cents, representing an increase of 11% versus the first quarter of last year.
  • This AFFO performance was slightly above our expectations, driven by a combination of earlier deployment timing, lower cash G&A, and favorable portfolio credit trends.
  • As a result of continued cost discipline, we reduced our cash G&A guidance for the year by $1 million to a new range of $30 million to $34 million.

Bear points

  • our way to average cost of capital is in the mid to high fives. You know, we do not see a lot of properties within our portfolio that would trade below that.
  • as you think about, you know, selling a more risky asset, it's not going to garner premium pricing.
  • I think overall, the capital market environment is a little more constrained, but not materially so.
Read full transcript analysis ›