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Jun 30, 2023
Essential Properties Q2 2023 Earnings Report
Announced second quarter 2023 results, featuring net income per share of $0.35 and AFFO per share of $0.41. Closed investments of $277.4 million at a 7.4% weighted average cash cap rate and increased 2023 AFFO guidance to $1.62 to $1.65 per share.
Key Takeaways
Essential Properties Realty Trust reported strong second-quarter results, driven by a high-performing portfolio and a differentiated investment model. The company closed investments of $277.4 million at a 7.4% weighted average cash cap rate and increased its 2023 AFFO guidance to $1.62 to $1.65 per share.
Net income per share increased by 30% to $0.35 compared to the second quarter of 2022.
Funds from Operations (FFO) per share increased by 5% compared to the second quarter of 2022.
Adjusted Funds from Operations (AFFO) per share increased by 8% compared to the second quarter of 2022.
The company's portfolio was 99.9% leased to 360 tenants operating 560 different concepts in 16 industries across 48 states as of June 30, 2023.
Revenue by Segment
Forward Guidance
The Company is increasing its guidance for 2023 AFFO per share on a fully diluted basis to a range of $1.62 to $1.65 from its previously announced range of $1.60 to 1.64.
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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