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Jun 30, 2020
Essential Properties Q2 2020 Earnings Report
Announced second quarter 2020 results with net income per share of $0.11 and AFFO per share of $0.27. Collected 87% of July rent and closed quarterly investments of $42.4 million at a 7.4% weighted average cash cap rate.
Key Takeaways
Essential Properties Realty Trust reported a challenging second quarter due to the COVID-19 pandemic, but the portfolio performed well. The company invested $42.4 million in 13 properties at a 7.4% weighted average cash cap rate. The portfolio remained highly leased at 99.6% with a strong weighted average lease term of 14.6 years.
Net income per fully diluted share decreased 21% to $0.11
Funds from Operations (“FFO”) per fully diluted share increased 13% to $0.26
Core Funds from Operations (“Core FFO”) per fully diluted share decreased by 7% to $0.27
Adjusted Funds from Operations (“AFFO”) per fully diluted share remained unchanged at $0.27
Forward Guidance
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and the Company may not be able to realize them.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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