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Dec 31, 2019
Essential Properties Q4 2019 Earnings Report
Essential Properties reported an increase in fourth quarter net income per share by 38% and AFFO per share by 11%.
Key Takeaways
Essential Properties Realty Trust, Inc. announced operating results for the three months and year ended December 31, 2019. The company invested $204.7 million in 94 properties at a 7.3% weighted average cash cap rate during the quarter. Net income per fully diluted share increased 38% to $0.18 per share, and Adjusted Funds from Operations (“AFFO”) per fully diluted share grew by 11% to $0.30.
Ended the year at 100.0% leased with a weighted average lease term (“WALT”) of 14.6 years and a weighted average rent coverage ratio of 2.9x
Grew Same-Store Contractual Cash Rents by 1.7%
Reduced top 10 tenant concentration to 23.4%, a 210 bps sequential decline
Invested $204.7 million in 94 properties at a 7.3% weighted average cash cap rate
Revenue by Segment
Forward Guidance
The Company reiterates its previously issued expectation that 2020 AFFO per share on a fully diluted basis will be within a range of $1.27 to $1.30.
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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