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Mar 31, 2024
Essential Properties Q1 2024 Earnings Report
Announced first quarter 2024 results with net income per share of $0.28 and AFFO per share of $0.42.
Key Takeaways
Essential Properties Realty Trust reported a positive start to the year, marked by the highest first quarter investments since its inception, totaling $248.8 million at an 8.1% weighted average cash cap rate. The company has updated its 2024 AFFO guidance to $1.72 to $1.75 per share, reflecting confidence in its portfolio and tenant credit trends.
Invested $248.8 million in 79 properties with a weighted average cash cap rate of 8.1%.
Net income per share decreased by 5% to $0.28.
Adjusted Funds from Operations (AFFO) per share increased by 5% to $0.42.
Increased the bottom end of the 2024 AFFO per share guidance range to $1.72 to $1.75.
Essential Properties
Essential Properties
Essential Properties Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.comInterest on loans and lease receivables Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The Company has increased the low end of its previously issued fully diluted 2024 AFFO per share estimate and now expects that 2024 AFFO per share on a fully diluted basis will be within a range of $1.72 to $1.75.
Revenue & Expenses
Visualization of income flow from segment revenue to net income