Essential Properties Q2 2024 Earnings Report
Key Takeaways
Essential Properties Realty Trust announced strong second-quarter results, marked by significant investment activity of $333.9 million at an 8.0% weighted average cash cap rate. The company's AFFO per share increased by 5% to $0.43, and they reiterated their 2024 AFFO guidance range of $1.72 to $1.75 per share. CEO Pete Mavoides highlighted the company's ability to accretively deploy capital into attractive investments amidst a growing opportunity set.
Invested $333.9 million in 83 properties with an 8.0% weighted average cash cap rate.
Net income per share decreased by 17% to $0.29.
Adjusted Funds from Operations (AFFO) per share increased by 5% to $0.43.
Reiterated 2024 AFFO guidance range of $1.72 to $1.75 per share.
Essential Properties
Essential Properties
Essential Properties Revenue by Segment
Forward Guidance
The Company reiterates its previously issued expectation 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