Essential Properties Q1 2023 Earnings Report
Key Takeaways
Essential Properties Realty Trust reported a strong first quarter in 2023, marked by $207.1 million in investments at a 7.6% weighted average cash cap rate. Occupancy remained high at 99.8%, and the company is refining its 2023 AFFO per share guidance to $1.60 to $1.64.
Invested $207.1 million in 57 properties with a 7.6% weighted average cash cap rate.
Disposed of 17 properties, generating $37.2 million in net proceeds with a 6.1% weighted average cash cap rate.
Maintained a strong portfolio with 99.8% occupancy and a 3.9x weighted average rent coverage ratio.
Refined 2023 AFFO per share guidance range to $1.60 to $1.64.
Essential Properties
Essential Properties
Essential Properties Revenue by Segment
Forward Guidance
The company is updating its range for expected 2023 AFFO per share on a fully diluted basis to $1.60 to $1.64 from its previously announced range of $1.58 to 1.64.
Revenue & Expenses
Visualization of income flow from segment revenue to net income