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Jun 30, 2021
Essential Properties Q2 2021 Earnings Report
Announced second quarter 2021 results with net income per share of $0.20 and AFFO per share of $0.34. Completed initial public debt offering of $400 million 2.950% Senior Notes due 2031 and increased 2021 AFFO guidance to $1.30 to $1.32 per share.
Key Takeaways
Essential Properties Realty Trust reported strong second-quarter 2021 results, with rent collection at 99% and July collections essentially at 100%. The company invested over $220 million during the quarter, primarily in sale-leaseback transactions. They also completed an inaugural unsecured public bond issuance and raised their 2021 AFFO guidance to $1.30 to $1.32 per share.
Net income per share increased by 82% to $0.20 compared to the second quarter of 2020.
Adjusted Funds from Operations (AFFO) per share increased by 26% compared to the second quarter of 2020.
Invested $223.2 million in 94 properties with a weighted average cash cap rate of 7.1%.
Increased 2021 AFFO guidance to $1.30 to $1.32 per share.
Revenue by Segment
Forward Guidance
The Company is increasing its expectation that 2021 AFFO per share on a fully diluted basis will be within a range of $1.30 to $1.32, which compares to its prior guidance of $1.24 to $1.28.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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